Climate Investment (CI) leads $27M Series B investment in Membrane Technology & Research (MTR) to scale the use of membrane technology in industrial applications

London, UK — 07 April, 2026 — Membrane Technology Research (MTR), a global leader in membrane-based industrial gas separations with applications in petrochemicals, oil and gas production, power generation, carbon capture, and other major industries, has raised a $27 million Series B investment round led by Climate Investment, with participation from Hartree Partners. This funding will enable MTR to continue its leadership in membrane research and development, expand manufacturing capacity, and accelerate the deployment of its fully commercialized membrane technologies that provide economical solutions for hydrocarbon recovery, hydrogen separation, natural gas sweetening, and fuel gas conditioning.

Scaling next‑generation industrial separation membranes
Founded in 1982, MTR designs, manufactures, and sells advanced membrane systems for industrial separations and carbon capture. With more than 450 separation systems installed worldwide and a portfolio exceeding 150 patents, MTR combines decades of commercial experience with deep technical expertise. The company continues to push the boundaries of membrane science- developing novel materials and systems for emerging gas and liquid separation needs across a wide array of industries. MTR separation systems offer substantial capex and opex savings over legacy separation technologies, often with short payback times. The lower energy use associated with membrane separations also enables significant GHG emissions reductions. MTR’s technology pipeline includes next generation membranes targeting aromatics purification, H₂S and CO₂ separations, and point source carbon capture. Backed by the financial support of Climate Investment and Hartree Partners, MTR is positioned to accelerate commercialization of these innovations and extend its leadership across an expanding set of industrial applications.

Appointing John Gatlin as Chief Executive Officer
In conjunction with its Series B raise, MTR announced the appointment of John Gatlin as Chief Executive Officer. John brings more than two decades of leadership across the energy value chain including energy services, production technology, and manufactured equipment solutions. Most recently, he served as Chief Operating Officer at Flowco Holdings (Ticker: FLOC), an energy services company specializing in production optimization, artificial lift, and methane abatement solutions where he played a pivotal role in scaling operations to generate profitable growth.

Brett Andrews will serve as Chief Commercial Officer of MTR, where he will build on his successful record of developing high-performance commercial organizations and leading the expansion of technical sales capabilities.

Patrick Yip, Managing Director & Head of Growth Equity, Climate Investment “Membrane technologies offer a highly energy-efficient and compelling cost-effective
industrial gas separation alternative to conventional gas separation methods, and MTR has been at the forefront of this shift—commercializing industrial membrane solutions since the 1980s. As one of the early innovators in industrial decarbonization, MTR has helped create the foundation for today’s low carbon processing technologies. We are thrilled to support the company through our Decarbonization Acceleration Fund, in its next phase of growth and to work alongside our LPs to accelerate expansion into new markets, industries, and high impact applications.”

George Potts, Head of Hartree Partners technology investment business “We have long recognized MTR’s leadership in energy efficient gas separation
technologies, and we are delighted to support the MTR team to deliver the next generation of membrane technologies into a globally important industrial customer
base.”

John Gatlin, Chief Executive Officer, Membrane Technology & Research, Inc. “MTR has a peerless reputation for quality, performance, and innovation. This investment enables us to scale up our manufacturing and service delivery capabilities in order to provide high performance, cost-effective gas separation and carbon capture solutions to more customers throughout the world.”

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About Membrane Technology & Research (MTR)
Membrane Technology and Research, Inc. (MTR) is a global leader in the development and production of advanced membrane-based gas separation systems serving the petrochemical, natural gas, and refining industries. Founded in 1982 and headquartered in Newark, California, MTR has grown alongside industry adoption of membrane technologies, offering a full suite of custom-engineered solutions designed to meet demanding industrial standards for performance, reliability, and safety. Its portfolio includes proven systems for hydrocarbon recovery, natural gas processing, hydrogen purification, and carbon capture, supported by more than four decades of research, engineering, manufacturing, and field expertise. MTR’s innovative membrane platforms—such as VaporSep® for vapor recovery and Polaris® for CO₂ capture—reflect its leadership in advancing membrane science for both established and emerging applications. Visit www.mtrinc.com

About Climate Investment
Climate Investment (CI) is an independently managed specialist investor that invests in decarbonization technologies that underpin the next generation of global infrastructure. CI manages $1.8bn of total committed capital between its venture and growth strategies focused on decarbonization of energy, industry, transport and built environment, to drive market adoption, create value for infrastructure owners and deliver measurable greenhouse gas (GHG) impact. Operational since 2017, CI has invested in over 48 climate tech companies that have collectively delivered over 150 MT CO2e of cumulative greenhouse gas reduction from 2019-2025, along
with delivering financial returns and operational value to our LPs. Climate Investment was founded by member companies of the Oil & Gas Climate Initiative
(“OGCI”). Visit www.climateinvestment.com

About Hartree Partners
Hartree Partners, LP is a leading global merchant commodities firm specializing in energy and associated industries. Established over 28 years ago and jointly owned by senior management and funds managed by Oaktree Capital Management, L.P., Hartree has a unique track record in proprietary trading and investing in energy, metals, and agricultural commodity markets across the globe. For more information, please visit www.hartreepartners.com/

Media Contacts
Climate Investment — Jason Dela Cruz, jasondc@climateinvestment.com
MTR — Mary Alice Sanchez, maryalice.sanchez@mtrinc.com
Hartree Partners — Hartree@fgsglobal.com