Mantle8 Secures €31 Million Series A to Advance Natural Hydrogen Production

France‑based clean‑tech firm Mantle8 announced a €31 million (about $44 million) Series A funding round. Led by venture firm Sandwater, the round also included Breakthrough Energy Ventures, Bpifrance’s Ecotechnologies 2 fund, IP Group, Wind Capital and Calderion. The capital will fund a two‑year global exploration and drilling campaign aimed at identifying the first commercially viable high‑purity natural hydrogen reservoirs.

Mantle8’s proprietary geoscience and imaging technology is designed to reduce exploration risk and lower projected production costs to as little as €0.80 per kilogram. If successful, the low‑cost natural hydrogen could transform clean‑hydrogen economics, provide Europe with a domestic low‑carbon energy source and support industrial decarbonisation.

Founder and CEO Emmanuel Masible said the raise reflects growing confidence among investors that natural hydrogen is a scalable resource. The company plans to rank prospects across its global pipeline, drill selected sites, and evaluate volume, purity and reservoir quality for large‑scale commercial production.