U.S.-based maritime emissions capture and control company STAX Engineering has secured a $70 million funding boost, alongside launching new carbon capture trials with UK-based carbon capture technology company Seabound.
The investment is expected to 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 greenhouse gas (GHG) emissions.
Specifically, $60 million in debt financing provided by Firstime Credit and Deutsche Bank Private Credit & Infrastructure and $10 million through a Simple Agreement for Future Equity (SAFE) will, reportedly, drive the commercialization of STAX’s next-generation solutions while supporting ongoing trials.
Yoni Ophir, CEO of Firstime Credit, commented: “This funding round directly reflects our confidence in STAX’s groundbreaking technology, sustainable innovation, and vision. At Firstime Credit, we partner with companies like STAX to fuel their growth with tailored financing solutions that deliver value to both the company and our global financial partners.”
Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending at Deutsche Bank Private Credit & Infrastructure, stated: “Deutsche Bank Private Credit & Infrastructure is proud to support STAX Engineering in their mission to reduce criteria pollutants and improve air quality with their market-leading technology. This financing underscores our commitment to innovation and partnership with leading management teams.”
As for the carbon capture trials, already underway at the Port of Los Angeles, it is understood they integrate Seabound’s carbon dioxide capture system with its 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 sulfur before the clean exhaust gas enters the atmosphere, reducing the vessel’s greenhouse gas footprint. Early results are promising, reinforcing the feasibility of integrating carbon capture into STAX’s systems, with full-scale deployment planned for late 2025,” STAX explained.
In parallel with the funding, STAX has signed new multi-year contracts with shipping companies ZIM and K-Line. ZIM Integrated Shipping Services, an Israeli container shipping company, operates global cargo routes, while Kawasaki Kisen Kaisha (K-Line), a Japanese shipping company, specializes in containers, bulk cargo and automotive logistics.
Michael Walker, CEO of 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.”
Alisha Fredriksson, Co-Founder and CEO of Seabound, remarked: “The maritime industry has long been one of the toughest sectors to decarbonize, 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.”
To note, STAX is said to be the only emissions solution servicing all major vessel classes in California, U.S., including containerships, auto carriers and tankers. The company emphasized that its technology attaches to all vessel classes without requiring retrofits, capturing exhaust and removing 99% of particulate matter (PM) and 95% of nitrogen oxides (NOx).
To meet demand, STAX aims to expand into additional U.S. and international ports. The company revealed it is evaluating several “best-in-class” carbon capture solutions ahead of the fleet-wide rollout in late 2025.