Groundbreaking news from STAX has been revealed, which states that the company is now working on scaling emissions control across global shipping fleets, whilst new contracts have also been created with ZIM and K-Line. Alongside this, a carbon capture trial with Seabound has been set up in order to drive momentum.

So far, a funding round which was led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure, was able to raise $70 million. This investment will help to fuel STAX’s rapid growth and it will also play the role of scaling the deployment of its emissions capture and control technology, whilst simultaneously working to advance carbon capture initiatives. Doing all of this, will be done with the aim of bringing the company closer to its overall goal of capturing 1% of global greenhouse gas emissions.

Right now, carbon capture trials are already underway at the Port of Los Angles and the purpose of these trials is to integrate Seabound’s carbon dioxide capture system, which is both compact and cost-effective, with STAX’s mobile emissions control units. Once STAX’s technology has been able to filter the pollutants, the next step of this system focuses on the ship’s exhaust, which is directed through Seabound’s capture unit, effectively isolating and storing both carbon and sulfur before the clean exhaust makes contact with the atmosphere. Utilising this system effectively and efficiently, reduces the vessel’s greenhouse gas footprint. So far, the results that have been seen already are positive and they neatly emphasise the feasibility of integrating carbon capture into STAX’s systems. As it stands, the company is aiming for full-scale deployment for late 2025.

The $70 million which have been invested, will go towards driving the commercialisation of STAX’s next-generation solutions, whilst simultaneously providing support to the ongoing trials.

Alongside this funding, STAX has also been able to create new multi-year contracts with both ZIM and K-Line. This means that STAX is able to expand their footprint throughout the shipping industry. ZIM Integrated Shipping Services, is well-known as one of the world’s largest container shipping companies, and they operate global cargo routes. Whereas, Kawasaki Kisen Kaisha, Ltd. (K-Line), is a leading Japanese shipping company, and their specialty is in containers, bulk cargo, and automotive logistics. These companies have now joined the list of global leaders who have previously agreed to work with STAX, including Shell, NYK Line, Hyundai GLOVIS, Toyota, and Olympus.

CEO of STAX Engineering, Michael Walker, commented, “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.”

Co-Founder & CEO of Seabound, Alisha Fredriksson, added, “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.”

CEO of Firstime Credit, Yoni Ophir, stated, “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.”