Halifax-based climate tech startup pHathom Technologies has successfully closed a USD$2.9 million seed funding round to advance its innovative carbon capture solution. This new capital brings the company's total committed funding to over $8.7 million, positioning it to accelerate the deployment of its technology. The firm aims to decarbonize coastal bioenergy and industrial facilities by transforming captured CO₂ into a stable compound naturally found in seawater.
A Novel Approach to Marine Carbon Storage
pHathom's technology is designed to integrate seamlessly with existing coastal industrial infrastructure, capturing biogenic carbon dioxide at its source. The system avoids the need for new pipelines or long-distance transport by processing emissions on-site. This approach allows for durable and verifiable carbon storage within established industrial and regulatory footprints, offering a practical decarbonization pathway.
The core of the process involves converting captured CO₂ into stable dissolved inorganic carbon, commonly known as bicarbonate. Using a slurry of limestone and seawater within a controlled reactor, the technology mimics the Earth's natural carbon cycle. The treated water, containing the bicarbonate, is then safely returned to the local marine environment without altering its natural chemistry.
Strategic Investment to Fuel Growth
The $2.9 million equity round was led by Boston-based Propeller Ventures, with significant participation from several key institutional and strategic investors. The New Brunswick Innovation Foundation, Invest Nova Scotia, and Belgian corporate venture firm Carmeuse Ventures also contributed to the financing. This investment underscores growing confidence in pHathom's science-based approach to permanent carbon removal and storage.
This seed funding complements pHathom's leading role in the $16 million Bioenergy Carbon Capture and Marine Storage Project, backed by Canada’s Ocean Supercluster. The combined capital of over $8.7 million will be instrumental in launching pilot projects across Atlantic Canada. These initiatives are crucial for validating the technology and refining the processes required for large-scale commercial deployment.
Dr. Kimberly Gilbert, CEO of pHathom Technologies, emphasized the importance of a solution that is not only effective but also responsible and verifiable. She stated that the investment enables the company to demonstrate a carbon capture pathway that works within existing infrastructure and meets high scientific standards. This focus on integrity is designed to build trust with regulators, partners, and the public.
Industry Recognition and a Path to Commercialization
pHathom has already gained significant market validation from major players in the carbon removal industry. The company was selected for an advance purchase agreement by Frontier, a coalition that includes buyers like Stripe, Shopify, and Google. This early endorsement signals strong commercial interest in the quality and permanence of the carbon credits pHathom aims to generate.
Further acclaim came when Foresight Canada named pHathom its 2025 Atlantic Canada Startup of the Year, highlighting its potential impact on the cleantech sector. The company is actively collaborating with sustainable biomass producers, research institutions, and verification experts. This collaborative strategy is central to its goal of deploying full-scale commercial projects by the year 2030.
With its recent funding and strong industry backing, pHathom Technologies is well-positioned to make a significant contribution to industrial decarbonization. The company's focus on leveraging existing infrastructure for durable and verifiable carbon storage presents a scalable model for climate action. As it moves from research to real-world deployment, pHathom's progress will be closely watched by the global climate technology community.