Follow-on investments in Current Chemicals, Perpetual Next, Anaeco and Seaborough, among others, to meet rising global demand
AMSTERDAM and BOSTON, October 20, 2026 – Momentum Global Ventures (Momentum) is investing a total of $50 million in the second half of 2026 to further strengthen its ventures in raw materials and critical materials. The decision follows clearly accelerating market momentum: across Europe and the United States, governments and industry are moving quickly to secure reliable access to rare earth elements, renewable base chemicals and clean production processes.
The investments will fund, among other things, expanded production capacity for critical materials – used to manufacture high-performance magnets – at Current Chemicals, torrefaction production lines for Perpetual Next in Europe and the United States, the commercial scale-up of PFAS destruction at Anaeco, and the photonic chip project of nanomaterials company Seaborough.
Accelerating Market Momentum
Critical materials are high on the global agenda. China is estimated to process nearly 90 percent of the rare earth elements used in magnets. In addition, starting January 1, 2027, U.S. defense contractors may no longer supply magnets whose raw materials were mined or refined in China, Russia, North Korea or Iran.
At the same time, demand for renewable methanol as a critical molecule is growing, not only from shipping but increasingly from the chemical industry. And stricter regulation of PFAS and other harmful gases calls for technology that destroys these substances at the source.
Current Chemicals: Critical Materials Capacity for High-Performance Magnets
Current Chemicals Inc. (CCI), based in Cleveland, Ohio, is one of the few Western processors of rare earth elements and critical materials. The company, formerly part of General Electric, became independent in 2025 with Momentum’s backing.
The follow-on investment will expand production capacity. It is driven by sharply rising demand for critical materials used to manufacture high-performance permanent magnets, which are essential for wind turbines, electric drivetrains and defense systems.
Perpetual Next: Hardware Investments in Europe and the United States
Renewable methanol producer Perpetual Next is investing Momentum’s additional capital in, among other things, torrefaction production lines in Europe and the United States. Torrefaction is an essential step in Perpetual Next’s Biomethanol Blueprint: a standardized concept that combines torrefaction, gasification, gas cleaning and methanol synthesis to convert residual streams such as waste wood into biomethanol.
For the methanol synthesis in the Blueprint, Perpetual Next is partnering with Air Liquide, one of the world’s largest suppliers of industrial gases and process technology. On October 13, 2026, the two companies signed a License and Engineering Agreement. Under it, Air Liquide Engineering & Technologies will supply its Rectisol™ and Lurgi™ Methanol technology, first for Delfzijl and with an option for additional sites. The technology has been proven in numerous industrial plants worldwide.
In Europe, Delfzijl is the first application of the Blueprint, with a planned capacity of 220,000 metric tons of biomethanol per year; Moerdijk, Poland and Estonia will follow. In the United States, Perpetual Next has selected a site in Georgia and is developing three facilities in the Southeast.
Methanol is a critical molecule. Beyond shipping, demand now comes primarily from the chemical industry, where methanol serves as a platform feedstock for a wide range of base chemicals and materials.
Anaeco: Scaling Up PFAS Destruction
Anaeco, headquartered in Nashville, Tennessee, has developed technology that accelerates atmospheric chemistry to destroy PFAS, HFCs, anesthetic gases and nitrous oxide directly at the source. The technology has been validated in collaboration with partners including Rigshospitalet and the City of Copenhagen.
Momentum recently invested in Anaeco. The follow-on investment will scale commercial deployment across three markets: anesthetic gases in hospitals, refrigerants, and process emissions from semiconductor manufacturing.
Seaborough: Nanomaterials for Photonic Chips
Amsterdam-based Seaborough develops luminescent nanomaterials and is the only company in the world that produces nanophosphors ranging from under 20 nanometers to several micrometers with consistent performance. With this investment, Seaborough is advancing its project to apply nanomaterials in photonic chips, which use light instead of electrons.
Comment from Momentum
“We are seeing a clear global acceleration in demand for critical materials and molecules. Western industries want to make their supply chains more secure, and our ventures respond directly to that need: from magnet materials for energy and defense to renewable methanol for the chemical industry. With this $50 million, we are strengthening their position at exactly the moment the market calls for it. Since mid-2024, we have increasingly focused our investments on critical materials, raw materials and emissions reduction. Today, more than 80 percent of our invested capital is allocated to these areas.” — Joost Oostveen, Partner, Momentum Global Ventures.
