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Compact Membrane Systems Raises Oversubscribed Series A Round to Develop Revolutionary Carbon Capture Technology

Wilmington, DE (August 2, 2023) – Compact Membrane Systems (CMS), a pioneer in advanced membrane technology, is pleased to announce the successful completion of an oversubscribed Series A funding round of $16.5 million. The round was led by Pangaea Ventures and included GC Ventures, Solvay Ventures, Chevron Technology Ventures, and Technip Energies.

CMS membranes are a breakthrough solution designed for carbon capture in hard-to-abate sectors like steel, cement, and other kiln-process operators that represent over 11% of worldwide emissions. For decades, traditional carbon capture technologies relied on expensive and energy-intensive processes. CMS’s modular, fully electrified, and cost-effective solutions are designed to be contaminant resistant, low energy, and easy to use, eliminating the need for regeneration, steam, or chemical solvents. 

Positioned to be a game-changer in efficiently and sustainably reducing up to 1 gigaton of carbon emissions in heavy industry by 2040, CMS membranes are enabling the equitable creation of the materials we use while preserving the planet we need.

CMS’s Series A funding will accelerate the development and commercialization of their olefins and carbon capture solutions, with the goal of delivering a low-cost, fully electrified solution by 2026.

CMS’s innovation in carbon capture technology follows its successful demonstration of the technology platform for olefins separation, a bolt-on solution for chemical plants to economically boost production from existing systems while reducing GHGs by up to 70% compared to distillation columns. 

“We are delighted to have secured such a strong group of investors who share our vision for delivering a revolutionary carbon capture technology for industrial applications,” said Erica Nemser, CEO of Compact Membrane Systems. “This oversubscribed funding round catalyzes our ability to deliver large projects. Deployment of our commercial systems by 2026 will have measurable environmental and economic benefits to our customers and society.”

CMS is the second investment of Pangaea Ventures’ new fund, Pangaea Ventures Impact Fund, LP. “We are excited to support CMS as they work to bring their innovative carbon capture technology to market,” said Chris Erickson, Partner at Pangaea Ventures. “Their technology has the potential to significantly reduce carbon emissions from industrial processes, and we look forward to seeing their continued progress.”

“GC is excited to be part of CMS’s journey as their team continues to innovate and commercialize their technology,” said Kamel Ramdani, CTO of PTT Global Chemical Public Company Limited (GC) and President of GC Ventures America. “CMS’s platform technology has the potential not only to help GC and the GC ecosystem achieve net-zero goals, but also make a significant impact on reducing industrial emissions at a global scale.”

Solvay Ventures, the venture capital arm of Solvay, a global leader in advanced materials and specialty chemicals, also participated in the funding round. “At Solvay, we are committed to driving progress and delivering sustainable solutions to the world’s most pressing challenges,” said Coppelia Marincovic, Partner of Solvay Ventures. “CMS’s low energy approach using advanced materials aligns with our mission to reinvent the chemicals industry and find new pathways of using CO2 to produce materials of the future. We are thrilled to support their efforts in this space.”

“The technology that CMS has developed has the potential to drive further efficiencies and cost reduction along the CCUS value chain, supporting decarbonization of hard-to-abate sectors and complementing our existing portfolio of investments in this space,” said Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron. “This is the latest investment from our $300 million Future Energy Fund II, which focuses on industrial decarbonization, emerging mobility, energy decentralization, and the growing circular economy. We welcome CMS to the portfolio.”

Technip Energies, a leading Engineering and Technology company for the energy transition, was also a participant in the fundraise. “Technip Energies is very pleased to join other leading investors of CMS,” said Yu Huang, Head of Partnerships and Ventures at Technip Energies. “Carbon Capture and Utilization is one of our strategic focus areas and we look forward to working with CMS to further scale up their innovative carbon capture technology, and to decarbonize heavy industry together.”


About Compact Membrane Systems 

Compact Membrane Systems (CMS) pioneers membrane systems for decarbonizing hard-to-abate sectors. CMS’s breakthrough OptipermTM platform provides bolt-on, modular solutions for existing facilities to reduce energy consumption and greenhouse gas emissions, expand capacity, and deliver new sources of revenue. Operating a 10,000 sqft lab and manufacturing facility in Delaware, CMS has over 20 years of manufacturing experience across power gen, industrial, pharma and O&G operations. For more information about CMS and its technology, please visit 

About Pangaea Ventures

Pangaea Ventures is the world leader in hard tech and impact investing, with offices in Vancouver, B.C., Canada and Phoenix, AZ, USA. With over two decades of hard tech impact investing experience, Pangaea’s portfolio includes companies that are solving fundamental challenges that impact the world including climate change, global food security, access to clean water and poor health outcomes. For more information, visit

About GC Ventures America

GC Ventures America is a wholly owned subsidiary of PTT Global Chemical Public Company Limited (GC), focusing on strategic investments and collaborations between GC and emerging technologies. GC is Thailand’s largest integrated petrochemical business and a leading corporation in the Asia Pacific region, both in size and wide range of products. GC Group has been rated world’s number one in the chemical sector in the Dow Jones Sustainable Index for four consecutive years. GC Group aims to reduce current greenhouse gas emissions by 20 percent by 2030 on our journey towards achieving Net Zero by 2050. For more information, visit

About Chevron Technology Ventures

Chevron Technology Ventures leverages equity investments and its pilot and deployment resources to take technological innovation from early concept all the way through scale within the enterprise. For more information, visit

About Solvay Ventures

Solvay Ventures is the Venture Capital fund of Solvay. Solvay Ventures invests in breakthrough technologies in advanced materials, devices and business model innovation. Operating since 2005, Solvay Ventures is currently investing out of a €80 million global evergreen fund. Solvay Ventures targets early stage investment opportunities (Seed through Series B) with a focus on startups addressing sustainable resources, energy transition, health and well-being, and digital age. Beyond capital, Solvay Ventures looks to leverage the resources at Solvay to help accelerate technology and market adoption. Learn more at

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering. Operating in 35 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow. Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information:


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