Mote – a tech leader specializing in carbon-negative energy production using innovative approaches to sustainable energy generation and resource management – announced the successful first close of its Series A funding round, securing $7 million in investment funds.
The funding round is led by Nella Next and Preston-Werner Ventures, along with other strategic partners focused on U.S. energy security. This initial phase is part of a targeted $15 million Series A funding effort to further develop its groundbreaking technology.
Mote’s core innovation revolves around converting wood waste into energy while implementing effective carbon capture strategies for a cleaner environment. Their process, known as Biomass Carbon Removal and Storage (BiCRS), effectively sequesters the highest proportions of CO₂ in production.
With patented technology, Mote enhances hydrogen production and efficiency while reducing harmful emissions during energy creation and resource use. Mote offers scalable solutions that bolster domestic energy independence while supporting sustainable forestry and management practices through innovative waste use.
The Department of Energy states that the United States has access to approximately 1.5 billion dry tons of biomass annually. This biomass resource presents a significant opportunity for carbon-negative hydrogen production across various sectors within the renewable energy market.
Projections indicate that the global low-carbon hydrogen market may grow from $26.39 billion in 2024 to $113.13 billion by 2034. This growth is driven by increasing demand for sustainable energy solutions, highlighting the need for innovative approaches to energy production.
The Series A funding will be utilized to advance Mote’s first commercial-scale facility and expand engineering and technological capabilities significantly. Additionally, the funds aim to accelerate strategic partnerships within the hydrogen, forestry, and energy sectors necessary for sustainable growth.
Mote’s BiCRS process derives from Lawrence Livermore National Laboratory, supported by various governmental agencies committed to progress in decarbonization.
