STAX Engineering, a leading innovator in maritime emissions capture and control technology, has announced a significant $70 million in funding, which will accelerate the company’s expansion of its emissions solutions across the global shipping industry. The funding round was led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure, and will also support the launch of new carbon capture trials in collaboration with Seabound, a leader in onboard carbon capture technology.
This investment will support STAX’s mission to scale its mobile emissions control units and carbon capture technologies, positioning the company closer to its goal of capturing 1% of global greenhouse gas emissions. STAX is particularly focused on decarbonizing the maritime sector, which has long been a challenging industry to tackle in terms of emissions reduction.
New Partnerships with ZIM and K-Line Bolster STAX’s Momentum in Scaling Emissions Control Across Global Shipping Fleets.
Alongside the funding, STAX has secured new multi-year contracts with prominent global shipping companies ZIM and K-Line. ZIM Integrated Shipping Services, one of the world’s largest container shipping firms, and Kawasaki Kisen Kaisha, Ltd. (K-Line), a leading Japanese shipping company, are joining STAX’s growing roster of partners, including Shell, NYK Line, Hyundai GLOVIS, Toyota, and Olympus. These new partnerships reflect the rising demand for STAX’s emissions capture solutions, as shipping companies seek to comply with tightening environmental regulations and reduce their greenhouse gas footprints.
Michael Walker, CEO of STAX Engineering, expressed his excitement about the progress: “We’re building real momentum at STAX, and this funding marks a pivotal moment for both our company and the maritime industry. Our inaugural partnership with Seabound is critical as we continue expanding our carbon capture capabilities, and the new contracts with ZIM and K-Line are a testament to the growing demand for our emissions control technology across global fleets.”
Carbon Capture Trials and Industry Impact
In addition to the funding, STAX is launching carbon capture trials in collaboration with Seabound, focusing on the integration of Seabound’s cost-effective carbon dioxide capture system with STAX’s mobile emissions control units. These trials, which are already underway at the Port of Los Angeles, aim to filter pollutants from ship exhaust using STAX technology. After being filtered, the exhaust is directed through Seabound’s capture unit, which isolates and stores both carbon and sulfur before the clean exhaust gas is released. Early results from the trials are promising, reinforcing the feasibility of integrating carbon capture technology into STAX’s systems.
“We’re excited to partner with STAX to integrate our carbon capture technology into their mobile emissions systems,” said Alisha Fredriksson, Co-Founder & CEO of Seabound. “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.”
Full-scale deployment of these carbon capture solutions is slated for late 2025, further bolstering STAX’s vision of transforming the maritime sector and reducing its carbon footprint.
Strategic Investment and Future Growth
The $70 million investment consists of $60 million in debt financing from Firstime Credit and Deutsche Bank Private Credit & Infrastructure, alongside a $10 million Simple Agreement for Future Equity (SAFE). The financing will support STAX’s ongoing technology trials and the commercialization of its next-generation solutions, which include expanding the company’s reach to meet the growing demand for emissions control across additional ports in the U.S. and internationally.
“This funding round is a testament to the groundbreaking technology and sustainable innovation that STAX represents,” said Yoni Ophir, CEO of Firstime Credit. “At Firstime Credit, we are proud to partner with companies like STAX to fuel their growth and deliver value to both the company and our global financial partners.”
Deutsche Bank’s Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending, added, “Deutsche Bank Private Credit & Infrastructure is proud to support STAX Engineering in their mission to reduce pollutants and improve air quality. This financing further demonstrates our commitment to innovation and partnership with forward-thinking companies in the sustainability sector.”
STAX’s Growing Footprint and Technology Advancements
Since its launch in early 2024, STAX has made significant strides in the maritime sector, becoming the only emissions solution provider to service all major vessel classes in California, including container ships, auto carriers, and tankers. As of January 2025, STAX’s technology provides a critical path to compliance with the new emissions standards set by the California Air Resource Board (CARB), with exclusive service agreements in major ports including Los Angeles, Long Beach, Hueneme, Benicia, and Oakland.
To date, STAX has treated at-berth vessels for over 13,000 hours, capturing more than 100 tons of pollutants. The company’s technology is capable of capturing 99% of particulate matter (PM) and 95% of nitrogen oxides (NOx) without requiring retrofits to the ships, a significant achievement for emissions reduction.
As demand for STAX’s solutions continues to rise, the company is evaluating additional carbon capture technologies ahead of its planned fleet-wide rollout in late 2025. In addition to maritime applications, STAX is also exploring opportunities to extend its emissions capture technology to other sectors, including data centers, further solidifying its commitment to a clean-air future.
About STAX Engineering
STAX Engineering specializes in developing cutting-edge emissions capture systems for the maritime industry. The company’s patented technology can be fitted to all ship classes without requiring modifications, even in congested ports. STAX’s solutions effectively filter exhaust gases, removing 99% of particulate matter (PM) and 95% of nitrogen oxides (NOx) before releasing purified exhaust into the atmosphere.
In recognition of its innovative contributions to emissions reduction, STAX was named a winner of Fast Company’s Next Big Things in Tech in 2024. With a mission to create a cleaner, more sustainable future, STAX is leading the way in environmental solutions for the maritime industry and beyond.
Source STAX Engineering