Membrane Technology & Research Secures $27 Million in Series B Funding
Membrane Technology & Research, a company specializing in cost-effective membrane gas separation technologies, has announced the completion of a $27 million Series B funding round. This investment aims to support the global expansion of its solutions, particularly in carbon capture and industrial applications. The round was led by Climate Investment, with additional participation from Hartree Partners.
Company Overview
Membrane Technology & Research (MTR) provides innovative membrane-based gas and vapor separation technologies. Their platforms are particularly effective in industrial separations, including monomer, nitrogen, and hydrogen recovery units. MTR's technologies are designed to improve efficiency and reduce emissions in industries such as petrochemicals, natural gas, and refining.
Strategic Leadership
John Gatlin has been appointed as the Chief Executive Officer of MTR. Gatlin brings over 25 years of experience in the energy sector, having previously held leadership roles such as Chief Operating Officer at Flowco Holdings and President of Estis Compression. He expressed his enthusiasm for the new role, stating, "I’m delighted to join MTR at such an exciting time. With the backing of Climate Investment and Hartree Partners, we are well positioned to accelerate commercial deployment of our proven membrane technology platform."
Use of Funds
The newly acquired funds will primarily be used to accelerate the deployment of MTR’s membrane technologies across various industrial applications. This includes enhancing their Polaris membrane technology, which has been validated over 15 years in collaboration with the U.S. Department of Energy. The funding will also support the expansion of MTR's market reach through increased global sales, marketing, and customer engagement initiatives, led by Brett Andrews, the newly appointed Chief Commercial Officer.
Technology and Impact
MTR operates across two main divisions: industrial separations and carbon capture. Their scalable membrane platform supports a range of applications, including carbon capture, BTX aromatics recovery, and acid gas enrichment. These technologies have been deployed in over 450 systems worldwide, with significant installations like the one at the Dry Fork Station coal power plant in Wyoming. The investment from Climate Investment and Hartree Partners reflects the growing demand for scalable and cost-effective emissions reduction technologies.
Investor Insight
Climate Investment, known for its focus on industrial decarbonization, and Hartree Partners, a global commodities firm, are backing MTR as the demand for efficient emissions reduction solutions increases. This funding round is expected to significantly enhance MTR's capacity to meet the rising global needs for its technologies.
For more information on Membrane Technology & Research and their innovative solutions, visit their website.