Conifer Infrastructure Partners

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M2X Energy Announces $40 Million Series B Financing to Accelerate Commercial Operations

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: M2X Energy, Conifer Infrastructure Partners

M2X Energy Inc., an end-to-end developer of modular, transportable gas-to-liquids systems that economically produce low-carbon methanol from stranded methane, announced a $40 million Series B financing round led by Conifer Infrastructure Partners. Also participating in the round are the existing Series A investors including Breakthrough Energy Ventures, Eni Next, Add Ventures by SCG, and Autodesk Foundation.

The funds will be used to accelerate the in-house manufacturing and deployment of M2X’s first commercial fleet of low-carbon methanol production systems. Prior to the Series B funding round, M2X successfully conducted multiple field deployments, which de-risked its patented chemical process technology, and demonstrated the benefits of replacing economies of scale with mass manufacturing and automation to rapidly mitigate methane emissions from otherwise stranded, highly distributed sources. M2X has already established 10,000 square feet of turnkey manufacturing space capable of constructing multiple systems in parallel, and initiated equipment orders to accelerate go-to-market and fleet expansion. On the commercial front, M2X is actively sourcing biogas feedstocks to produce biomethanol, which aligns with regulatory certification schemes and customer demand. M2X expects to deploy its first commercial systems and deliver low-carbon methanol, including biomethanol, under long-term offtake agreements in early 2025.

Read more at Business Wire