Mantle8 banked €31M in Series A funding to fast-track the exploration of natural hydrogen. Sandwater led the round, which included participation from Breakthrough Energy Ventures, Bpifrance via its Ecotechnologies 2 fund, IP Group, Wind Capital, and Calderion. The fresh capital brings the Grenoble-based company’s total funding to €37M.
The startup specialises in identifying and drilling for naturally occurring hydrogen, also known as "white hydrogen." Mantle8 uses a proprietary technology stack, including its HOREX multiphysics platform, to generate 4D images of active underground hydrogen systems. By targeting areas where hydrogen is continuously replenished and trapped in sealed reservoirs, the company aims to produce clean gas at costs as low as €0.80/kg.
This funding will support what the company describes as the world’s most advanced natural hydrogen drilling campaign over the next two years. The objective is to move beyond geological modelling to confirm the purity and volume of underground accumulations. Mantle8 intends to reach commercially viable production by 2030, offering a low-carbon alternative to hydrogen produced via electrolysis or steam methane reforming.
As Europe seeks energy sovereignty, the pursuit of domestic primary energy sources is shifting from traditional hydrocarbons to geologically sourced renewables. This raise underscores a growing conviction that natural hydrogen could provide the necessary scale and price point to decarbonise heavy industrial systems across the continent.
Originally reported by EU-Startups Daily.