US maritime emissions capture and control company Stax Engineering has received US$ 70m in funding led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure, alongside the launch of new carbon capture trials with onboard carbon capture technology company Seabound.
The investment will fuel Stax’s growth, scaling the deployment of its emissions capture and control technology while advancing carbon capture initiatives—bringing the company closer to its goal of capturing 1% of global GHG emissions.
In parallel with this funding, Stax has signed new multi-year contracts with shipping companies Zim and ‘K’ Line. They join the list of operators working with Stax, including Shell, NYK Line, Hyundai Glovis, Toyota, and Olympus.
Michael Walker, CEO Stax Engineering, said: “We’re building real momentum at Stax, and this funding marks a pivotal moment for both our company and the maritime industry. As we pursue expanding our carbon capture capabilities to drive the industry toward cleaner, more sustainable practices, our inaugural partnership with Seabound is pivotal. At the same time, new partnerships with ZIM and ‘K’ Line reflect rising demand for our emissions capture and control technology, helping us scale our impact across global fleets. Through these partnerships, we’re accelerating our vision to capture 1% of global emissions and set a new standard for carbon capture adoption across shipping and beyond.”
The carbon capture trials, already underway at the Port of Los Angeles, integrate Seabound’s compact CO2 capture system with Stax’s mobile emissions control units. After pollutants are filtered by Stax technology, the ship’s exhaust is directed through Seabound’s capture unit, isolating and storing both carbon and sulphur before the clean exhaust gas enters the atmosphere, reducing the vessel’s GHG footprint. Early results are promising, reinforcing the feasibility of integrating carbon capture into Stax’s systems, with full-scale deployment planned for late 2025.
Alisha Fredriksson, Co-Founder and CEO, Seabound, said: “The maritime industry has long been one of the toughest sectors to decarbonise, and partnering with Stax to integrate our carbon capture technology is a meaningful step forward. Together, we’re laying the foundation for a future where shipping can achieve zero-emissions operations, setting a new standard for sustainability across the industry.”
The US $70m investment — US$ 60m in debt financing provided by Firstime Credit and Deutsche Bank Private Credit & Infrastructure and US$ 10m through a Simple Agreement for Future Equity (SAFE)—will drive the commercialisation of Stax’s next-generation solutions while supporting ongoing trials.
Image: The barge-based Stax system provides emission control compliance for vessels in port (source: Stax Engineering)
