STAX Engineering, a Los Angeles, CA-based maritime emissions capture and control company, raised $70M in funding.
The round consisted of $60M in debt financing provided by Firstime Credit and Deutsche Bank Private Credit & Infrastructure and $10M through a Simple Agreement for Future Equity (SAFE).
The company intends to use the funds to accelerate its growth, scaling the deployment of its emissions capture and control technology while advancing carbon capture initiatives.
Led by CEO Michael Walker, STAX provides a patented, flexible exhaust capture system designed to fit all ships without modification, even in the most congested ports. Once the exhaust is captured and funneled into the STAX system, it is filtered. It removes 99% of particulate matter (PM) and 95% of oxides of nitrogen (NOx) before being released as purified gas.
To date, the company has treated 426 at-berth vessels for a cumulative of 13,000 hours and 100 tons of pollutants—and counting.
FinSMEs
26/02/2025