pHathom Technologies, a climate technology company developing carbon capture solutions for existing coastal bioenergy and industrial facilities, has closed its seed financing round, bringing total committed capital to over $12 million. The seed round was led by Propeller Ventures, with participation from the New Brunswick Innovation Foundation, Invest Nova Scotia, and strategic investor Carmeuse Ventures.
The Halifax, Nova Scotia-based company said the new funding will accelerate development and deployment of its platform for verifiable carbon capture and durable storage that leverages existing coastal infrastructure. The seed close includes a $4 million equity round and follows pHathom’s lead role in the $16 million Bioenergy Carbon Capture and Marine Storage Project through Canada’s Ocean Supercluster.
pHathom’s approach targets 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 company said treated water is returned at closely matched conditions to receiving waters, without inducing atmospheric carbon drawdown or requiring intervention in the marine environment.
The company positioned the method as a way to achieve durable, verifiable storage without building new pipelines, relying on long-distance transport, or using geological injection, while operating within existing industrial and regulatory footprints. pHathom also said the technology is designed to meet high standards for measurement and verification.
Proceeds from the financing will support pilot projects to reduce baseline biogenic greenhouse gas emissions from bioenergy facilities, alongside scientific, monitoring, and regulatory work to validate the approach for broader deployment.
pHathom also highlighted what it described as market validation, including selection for Frontier’s advanced purchase of carbon removal—representing buyers including Stripe, Shopify, and Google—and being named Foresight’s 2025 Atlantic Canada Startup of the Year. The company said it remains focused on building trust through rigorous science, transparent measurement, and engagement with regulators, researchers, and policymakers as bioenergy carbon capture and storage progresses from research into real-world deployment.
Founded in 2024, pHathom said it is developing scalable carbon capture and storage solutions designed to reduce emissions from existing facilities, operate without degrading ocean chemistry or ecosystems, and align with domestic and international climate governance frameworks.
KEY QUOTES:
“Reducing emissions from large facilities isn’t enough unless the solution is durable, verifiable, and responsible. This investment allows us to demonstrate a bioenergy carbon capture pathway that works within existing infrastructure, meets high scientific and measurement standards, and can be governed using established regulatory frameworks.”
Dr. Kimberly Gilbert, CEO of pHathom Technologies
“We’re thrilled to support pHathom as they close this investment round and accelerate the development of their carbon removal technology. The team is addressing carbon removal with highly-scalable, customer-first technology for durable carbon removal from existing emitters. This financing positions pHathom well to serve initial partners, validate impact, and play a meaningful role in the carbon removal market.”
Steven Fox, Partner at Propeller Ventures
“This investment is consistent with our strategy to support technologies contributing to industrial decarbonization. Leveraging Carmeuse’s 166 years of industrial expertise and engineering capabilities, we aim to help pHathom build on our internal skills to create value beyond the provided capital. Their science-based approach translates into measurable climate benefits, consistent with our commitment to driving innovation and sustainability.”
Aurélie Dusausoy, Carmeuse Ventures Director
