Mote, Inc., a pioneer in carbon-negative energy generation, has closed the first part of its Series A funding round successfully, raising $7 million in investment. The round was led by Nella Next and Preston-Werner Ventures, with additional backing from Counteract and other strategic partners. This marks the beginning of Mote’s targeted $15 million Series A funding round.
Groundbreaking Carbon-Negative Technology
Mote’s groundbreaking method, Biomass Carbon Removal and Storage (BiCRS), converts wood waste into clean energy, while sequestering and storing CO2. The patented process of the company increases hydrogen production, reduces emissions, and offers a scalable solution for energy security and sustainable forestry. Mote’s technology will solve both energy requirements and climate change by offering a carbon-negative energy solution.
Joshuah Stolaroff, CEO of Mote, said, “Mote addresses both sustainability and energy security, bringing critically needed innovation to the U.S. energy landscape. We’ve received broad support and expert endorsements over the years because of the strong fundamentals of our approach. This initial Series A investment reflects continued demand for carbon-negative energy solutions, reinforcing that clean energy can be economically viable and contribute to US energy leadership.”
US Biomass Resource and Market Potential
According to the Department of Energy, the US has 1.5 billion dry tons of agricultural and forestry waste annually for energy production. This resource is key to Mote’s mission of producing carbon-negative hydrogen. Forecasts show the global low-carbon hydrogen market size at $26.39 billion in 2024 and expanding to $113.13 billion by 2034
Mote’s clean energy solution, based on biomass, is also in line with market expansion as a sustainable, carbon-negative method of addressing energy needs in the future.
Series A funding will be used to construct Mote’s first commercial-scale facility and increase its engineering and development teams. The company also intends to speed up partnerships in the hydrogen, energy, and forestry industries. Mote is being advised by Seaport Global for placement.
Government and Industry Support
Mote’s BiCRS technology, which originated from Lawrence Livermore National Laboratory research, has received strong support from entities such as the US Department of Energy, CalFire, and the US Forest Service. Mote’s solution provides a viable decarbonization route, especially for hydrogen-reliant industries such as transportation, manufacturing, and energy storage.
Also read: DOE Commits $1.5 Billion Loan Guarantee to Wabash Valley Resources for Carbon-Negative Ammonia Plant
Supporting a Circular Economy
Mote is propelling the change to a circular economy with rural agricultural and forest communities. By converting waste to clean energy, the company helps to build up local economies, increase energy resilience, and develop environmental sustainability. Mote’s strategy improves the health of the forest, halts wildfires, and encourages the sustainable use of land, combating both climate and energy challenges.