Per Mantra's publications:
100 tons CO2 / day or 3000 tons per month per ERC unit
CO2 Carbon Credit of $10/ton (up to $1000/ton) = $30,000 per month
X .06 royalty = $1800 / month
CO2 to formic acid conversion:
3000 tons CO2 per month X 80% efficiency = 2400 tons formic acid
2400 tons formic acid X $1200/ton = $2,880,000 / month
X .06 royalty = $172,800 / month
Not including upfront licensing fee nor changes in Carbon credits nor changes in formic acid price (as a fuel?).
Wild guessing comes out to $174600/month per unit royalties or about 2 million per year revenue per unit.