pHathom Technologies, a climate technology startup focused on capturing and storing carbon dioxide from coastal bioenergy and industrial sites, has closed a seed financing round that pushed its total committed capital beyond $12 million.
Investors including Propeller Ventures, the New Brunswick Innovation Foundation, Invest Nova Scotia, and Carmeuse Ventures participated in the $4 million equity raise, which builds on a larger $16 million project funded through Canada’s Ocean Supercluster focused on bioenergy carbon capture and marine storage.
The company says its technology captures biogenic carbon dioxide at source and transforms it into stable dissolved inorganic carbon forms that naturally occur in seawater before returning the treated water to local marine environments without disrupting natural carbon cycles.
This approach is designed to sidestep the need for new pipelines or long-distance CO2 transport, operating within existing industrial footprints and regulatory frameworks.
“Reducing emissions from large facilities isn’t enough unless the solution is durable, verifiable, and responsible,” says Dr. Kimberly Gilbert, CEO of pHathom Technologies.
pHathom plans to use the new funding to support pilot projects aimed at reducing baseline emissions from bioenergy facilities, while advancing the scientific and regulatory work needed to validate this form of carbon removal at scale.
Recent movements in the carbon removal industry show both expansion and consolidation. Major startups are combining operations to pool resources like Terradot and Eion in the enhanced rock weathering space, while other companies have attracted substantial funding for their carbon sequestration projects.
Read more: Terradot Acquires Eion, Forming New Leading Enhanced Rock Weathering Platform
