STAX Engineering, a leader in maritime emissions capture and control, announced $70 million in funding led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure. It also launched new carbon capture trials with Seabound, a leader in onboard carbon capture technology.
The funding will advance STAX’s rapid growth, scaling the deployment of its emissions capture and control technology while advancing carbon capture initiatives. This will bring the company closer to its goal of capturing 1% of global greenhouse gas emissions.
Along with this funding, STAX also signed new multi-year contracts with ZIM and K-Line, expanding its footprint across the shipping industry. ZIM Integrated Shipping Services, one of the world’s largest container shipping companies, operates global cargo routes. And Kawasaki Kisen Kaisha (K-Line), a leading Japanese shipping company, specializes in containers, bulk cargo, and automotive logistics. They are joining the list of global leaders working with STAX, including Shell, NYK Line, Hyundai GLOVIS, Toyota, and Olympus, underscoring growing confidence in STAX’s emissions solution and reinforcing its role in meeting compliance with evolving environmental regulations.
The carbon capture trials, already underway at the Port of Los Angeles, integrate Seabound’s compact and cost-effective carbon dioxide capture system with STAX’s mobile emissions control units. After the pollutants are filtered by STAX technology, the ship’s exhaust is directed through Seabound’s capture unit, isolating and storing both carbon and sulfur before the clean exhaust gas enters the atmosphere, reducing the vessel’s greenhouse gas footprint. The early results are promising, reinforcing the feasibility of integrating carbon capture into STAX’s systems, with full-scale deployment planned for late 2025.
The $70 million investment – of which $60 million is in debt financing provided by Firstime Credit and Deutsche Bank Private Credit & Infrastructure and $10 million through a Simple Agreement for Future Equity (SAFE) – will drive the commercialization of STAX’s next-generation solutions while supporting ongoing trials.
Since launching in Q1 2024, STAX established itself as the only emissions solution servicing all major vessel classes in California, such as container ships, auto carriers, and tankers. As California’s new California Air Resource Board (CARB) emissions standards took effect in January 2025, STAX now provides a critical path to compliance for operators via exclusive service agreements at major ports, including Los Angeles, Long Beach, Hueneme, Benicia, and Oakland. In just over a year, STAX has treated at-berth vessels for a cumulative 13,000 hours, capturing 100 tons of pollutants and counting.
STAX’s technology attaches to all vessel classes without requiring retrofits, capturing exhaust and removing 99% of particulate matter (PM) and 95% of nitrogen oxides (NOx). STAX is actively pursuing expansion into additional U.S. and international ports to meet rising demand. And the company is evaluating several best-in-class carbon capture solutions ahead of the fleet-wide rollout in late 2025. These initiatives lay the groundwork for STAX’s continued growth within the maritime industry and entry into new sectors like data centers. They reinforce its commitment to comprehensive emissions capture solutions for a clean-air future.
KEY QUOTES:
“We’re building real momentum at STAX, and this funding marks a pivotal moment for both our company and the maritime industry. 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. Through these partnerships, we’re accelerating our vision to capture 1% of global emissions and set a new standard for carbon capture adoption across shipping and beyond.”
– Michael Walker, CEO of STAX Engineering
“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. Together, we’re laying the foundation for a future where shipping can achieve zero-emissions operations, setting a new standard for sustainability across the industry.”
– Alisha Fredriksson, Co-Founder & CEO of Seabound
“This funding round directly reflects our confidence in STAX’s groundbreaking technology, sustainable innovation, and vision. At Firstime Credit, we partner with companies like STAX to fuel their growth with tailored financing solutions that deliver value to both the company and our global financial partners.”
– 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. This financing underscores our commitment to innovation and partnership with leading management teams.”
– Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending at Deutsche Bank Private Credit & Infrastructure
