STAX Engineering, a key player in maritime emissions control, has secured a significant $150 million financing commitment from Bain Capital's Private Capital Group. This investment is earmarked to accelerate the deployment of its emissions capture technology for tanker operators. The funding arrives at a critical time, enabling STAX to scale its service capacity ahead of California's stringent 2027 environmental compliance deadline.
Accelerating Compliance with At-Berth Regulations
The financing directly addresses the upcoming California Air Resources Board (CARB) At-Berth Regulation, which mandates tanker compliance by January 1, 2027. Tankers face unique challenges with traditional shore power due to sensitive cargo and non-standardized connections, making alternative solutions essential. STAX's technology provides a crucial pathway to compliance without requiring disruptive vessel or berth modifications.
Strategic Expansion in Northern California
This capital infusion supports STAX's growing presence, particularly in Northern California, where demand for its services is rapidly increasing. A new agreement with IMTT to service its Richmond terminal expands the company's footprint in the San Francisco Bay Area. This deal, along with a recent contract with TransMontaigne, is projected to support over 6,400 at-berth service hours through 2031.
Investor Confidence and Market Leadership
Bain Capital's role as the sole financing partner underscores strong institutional confidence in STAX's business model and growth trajectory. David Healey, a managing director at Bain Capital, praised STAX's execution capabilities and its vital role in helping ports and operators invest in cleaner operations. This partnership provides STAX with both capital certainty and deep expertise for its next phase of infrastructure deployment.
STAX Engineering's CEO, Mike Walker, noted the strong momentum from tanker operators who are increasingly adopting emissions capture as their preferred compliance method. He emphasized that with over 2,700 vessel calls completed, STAX is already the market leader operating at a significant scale. This new financing will enable the company to build the necessary capacity to serve its expanding customer base.
A Proven Solution for Complex Maritime Needs
STAX's innovative barge-based system is designed for the operational realities of complex port environments, especially for tankers. The system connects directly to a vessel's exhaust stacks from the water, capturing up to 99% of particulate matter and 95% of nitrogen oxides. This process allows vessels to continue normal cargo operations at berth without interruption, a significant advantage over other solutions.
The company's technology received a critical endorsement in August 2025 with CARB's tanker Executive Order, authorizing its fleet to service all major vessel types. This authorization covers container ships, auto carriers, and tankers, making STAX a versatile service provider across California's ports. STAX already supports major clients like Olympus Terminals and Shell in the Ports of Long Beach and Los Angeles.
The $150 million commitment from Bain Capital marks a pivotal moment for STAX Engineering, solidifying its leadership in maritime emissions control. This strategic financing not only validates the company's proven technology but also provides the resources to meet urgent regulatory deadlines. As the maritime industry navigates the energy transition, STAX is now better positioned than ever to deliver scalable, effective clean-air solutions for California's ports.