In Canada, pHathom Technologies announced the closing of its seed financing round. The capital will accelerate the development and deployment of pHathom’s platform for verifiable carbon capture and durable storage using existing coastal infrastructure. Combined with its lead role in the $16 million Bioenergy Carbon Capture and Marine Storage Project through Canada’s Ocean Supercluster (OSC), the successful close of its $4 million equity round brings pHathom’s total committed capital past $12 million.
The round was led by Propeller Ventures, with participation from the New Brunswick Innovation Foundation (NBIF), Invest Nova Scotia, and strategic investor Carmeuse Ventures. pHathom’s approach captures biogenic carbon dioxide from existing coastal bioenergy facilities and converts it, through controlled land-based industrial processes, into stable dissolved inorganic carbon forms that already occur naturally in seawater. The facility’s treated water is returned at closely matched conditions to the receiving waters, without inducing atmospheric carbon drawdown or requiring any intervention or manipulation in the marine environment.
Tags: Canada, pHathom Technologies
Category: Fuels
