Posted on March 10, 2025
STAX Engineering, a leader in maritime emissions capture and control, has secured $70 million in funding to accelerate the deployment of its technology and expand carbon capture initiatives. The investment, led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure, comes alongside the company’s new carbon capture trials with Seabound, an onboard carbon capture technology provider. These developments mark a significant step toward STAX’s ambitious goal of capturing 1% of global greenhouse gas emissions.
“This funding marks a pivotal moment for both our company and the maritime industry,” said Michael Walker, CEO of STAX Engineering. “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.”
The funding includes $60 million in debt financing from Firstime Credit and Deutsche Bank Private Credit & Infrastructure, with an additional $10 million secured through a Simple Agreement for Future Equity (SAFE).
“This funding round directly reflects our confidence in STAX’s groundbreaking technology, sustainable innovation, and vision,” said Yoni Ophir, CEO of Firstime Credit.
“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,” added Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending at Deutsche Bank Private Credit & Infrastructure.
STAX strategic partnerships and carbon capture trials at Port of Los Angeles
In parallel, STAX has secured multi-year contracts with global shipping leaders ZIM Integrated Shipping Services and Kawasaki Kisen Kaisha (K-Line). These agreements add to STAX’s existing partnerships with industry giants such as Shell, NYK Line, Hyundai GLOVIS, Toyota, and Olympus, highlighting confidence in STAX’s emissions solutions and their role in meeting evolving environmental regulations.
The carbon capture trials, already underway at the Port of Los Angeles, integrate Seabound’s compact carbon dioxide capture system with the STAX Engineering mobile emissions control units. After pollutants are filtered by STAX technology, the ship’s exhaust passes through Seabound’s capture unit, isolating and storing both carbon and sulfur before releasing clean exhaust gas. Early results indicate strong feasibility, with full-scale deployment anticipated in late 2025.
“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,” said Alisha Fredriksson, Co-Founder & CEO of Seabound. “Together, we’re laying the foundation for a future where shipping can achieve zero-emissions operations.”
Since its launch in Q1 2024, STAX has emerged as the only emissions solution servicing all major vessel classes in California, including container ships, auto carriers, and tankers. With California Air Resource Board (CARB) emissions standards taking effect in January 2025, STAX now plays a crucial role in compliance efforts through exclusive service agreements at major ports, including Los Angeles, Long Beach, Hueneme, Benicia, and Oakland.
To date, STAX has treated at-berth vessels for over 13,000 cumulative hours, capturing 100 tons of pollutants. Its innovative technology attaches to vessels without requiring retrofits, removing 99% of particulate matter (PM) and 95% of nitrogen oxides (NOx). Looking ahead, STAX is evaluating additional carbon capture solutions and expanding into new U.S. and international ports. The company is also exploring opportunities in other industries, such as data centers.
Onboard carbon capture growth
Despite being labeled as a “transitory” solution by some, onboard carbon capture has been seeing strong growth in recent years.
Companies like Value Maritime and Carbon Ridge have either raised funds and are working on viable solutions with ports like Los Angeles and Rotterdam showing an interest in exploring the technology as part of their drive to become carbon neutral.
Solvang and Wartsila are two of the other companies angling for market share and have recently trialed systems that can capture up to 70% of CO2 emissions.
