M2X has announced the successful completion of a $40 million Series B financing round. This round was spearheaded by Conifer Infrastructure Partners ("Conifer"), a notable investment firm with a focus on sustainable infrastructure projects. The substantial funding will be instrumental in accelerating M2X’s commercial operations, enhancing their capacity to deploy innovative gas-to-liquids solutions more broadly and effectively. By leveraging this investment, M2X aims to address the challenges of stranded methane by transforming it into valuable, low-carbon methanol, thereby contributing to a more sustainable energy landscape. This financing round not only signifies a strong vote of confidence from Conifer and other investors but also positions M2X for significant growth and impact in the burgeoning field of clean energy technology.

Series A investors, including Eni Next, Breakthrough Energy Ventures ("BEV"), Add Ventures by SCG, and Autodesk Foundation, also participated in the round. The raised capital will be utilized to expedite the in-house manufacturing and deployment of M2X’s inaugural commercial fleet of low-carbon methanol production systems. Before securing the Series B funding, M2X successfully executed multiple field deployments that de-risked its patented chemical process technology, showcasing the advantages of replacing traditional economies of scale with mass manufacturing and automation to quickly reduce methane emissions from otherwise stranded, highly distributed sources. M2X has already established a 10,000-square-foot turnkey manufacturing facility capable of constructing multiple systems simultaneously and has initiated equipment orders to accelerate market entry and fleet expansion. Commercially, M2X is actively sourcing biogas feedstocks to produce biomethanol, aligning with regulatory certification requirements and customer demand. The company anticipates deploying its first commercial systems and delivering low-carbon methanol, including biomethanol, under long-term offtake agreements by early 2025.

Nicholas Stork, Managing Partner at Conifer Infrastructure Partners, expressed enthusiasm about formalizing their strategic partnership with M2X by spearheading the Series B funding round. This investment equips M2X with the necessary capital to accelerate the manufacturing and deployment of their low-carbon methanol production systems. He expressed strong support for M2X's groundbreaking technology that converts emissions into a clean and usable methanol fuel. Stork highlighted that Conifer and M2X are perfectly aligned on developing a standardized, repeatable system capable of economically converting any size or source of stranded methane gas into low-carbon energy.

Josh Browne, Chief Executive Officer at M2X Energy, said that the overwhelmingly successful funding round marked a pivotal moment for M2X, advancing them into a new era as a mature operating company with commercially validated systems and technology. He expressed gratitude to the Conifer team for their leadership in the Series B funding round and looked forward to having them as long-term partners. Browne added that the Series B financing, along with a recently announced $10 million award from the DOE’s Office of Fossil Energy and Carbon Management, significantly contributed to M2X’s impact on methane emissions.