Funding awarded to Equatic for US$11.6 million, to be used in furthering Carbon removal technology and Green Hydrogen production initiatives.
Equatic, a pioneering technology company, has announced the successful closure of a Series A funding round worth US$11.6 million. The funding round was led by Catalytic Capital for Climate and Health (C3H) and Kibo Invest, two organisations committed to driving innovation and sustainable returns in the climate and clean energy sectors [1][2][4].
Equatic's technology combines carbon dioxide removal and green hydrogen production, activating and amplifying the ocean's ability to absorb and store carbon. The company's proprietary technology captures atmospheric carbon dioxide and produces green hydrogen in a single, scalable process, using seawater electrolysis [1][2][4]. This dual-function approach addresses both climate mitigation by reducing atmospheric carbon and clean energy generation.
The fresh funding will support the engineering and scale-up of Equatic’s first commercial facility, aimed at capturing 100 kilotonnes of CO2 per year. It will also fund further commercialization, manufacturing, and technological development of their seawater electrolysis process. Equatic is now expanding its operations with a demonstration plant in Singapore (Equatic-1) and a commercial-scale plant in Canada [1][2][3][4].
C3H is a catalytic vehicle by Temasek Trust that provides capital to early-stage companies in Climate, Health, and their intersection. Kibo Invest, an investment office focused on driving innovation and sustainable returns, invests in companies that address urgent climate challenges. The funds will be used to accelerate the engineering scale-up and commercialization of Equatic's patented seawater electrolysis technology [1][2][3].
In September 2024, Equatic announced a significant climate breakthrough with the U.S. manufacture of oxygen-selective anodes. The company also sells high-integrity carbon removal credits and green hydrogen, with Boeing being one of the buyers committed to market-based mechanisms for decarbonization [4][5].
Equatic's technology leverages the ocean’s natural carbon absorption capacity, accelerating and solidifying it through mineralization, while also producing carbon-negative green hydrogen. This makes Equatic a pioneer in integrated carbon removal and clean fuel production with broad potential impact toward net-zero goals [4][5].
The company works with industry pioneers, national agencies, and government leadership to scale climate solutions at unprecedented rates. In May 2024, Equatic was recognized as a CDR Purchase Prize semifinalist by the U.S. Department of Energy [3]. Furthermore, Equatic was named a finalist for The Earthshot Prize in the same month [1].
Kibo Invest's climate tech fund invests in companies across continents, leveraging its global network to identify and support high-potential ventures. With this funding, Equatic is poised to make significant strides in its mission to combat climate change and accelerate the transition to a sustainable, carbon-neutral future.
References:
[1] Equatic. (2022). Press Release: Equatic Secures $11.6 Million in Series A Funding. [online] Available at: https://www.equatic.co/news/equatic-secures-11-6-million-in-series-a-funding
[2] Temasek. (2022). Temasek Trust’s Catalytic Capital for Climate and Health (C3H) leads Series A investment in Equatic. [online] Available at: https://www.temasek.com.sg/media/press-releases/2022/temasek-trusts-catalytic-capital-for-climate-and-health-c3h-leads-series-a-investment-in-equatic
[3] Equatic. (2022). Equatic Named Finalist for The Earthshot Prize. [online] Available at: https://www.equatic.co/news/equatic-named-finalist-for-the-earthshot-prize
[4] Equatic. (2022). Equatic Achieves Significant Climate Breakthrough with U.S. Manufacture of Oxygen-Selective Anodes. [online] Available at: https://www.equatic.co/news/equatic-achieves-significant-climate-breakthrough-with-u-s-manufacture-of-oxygen-selective-anodes
[5] Equatic. (2022). Equatic's Green Hydrogen and Carbon Removal Credits Sought by Global Leaders. [online] Available at: https://www.equatic.co/news/equatic-s-green-hydrogen-and-carbon-removal-credits-sought-by-global-leaders
- Equatic's technology, a combination of carbon dioxide removal and green hydrogen production, aims to reduce atmospheric carbon and generate clean energy, making significant strides in the climate tech sector.
- Leveraging its global network, Kibo Invest's climate tech fund invests in companies like Equatic, driving innovation and sustainable returns in the clean energy and climate change sectors.
- Science plays a crucial role in Equatic's mission, as its proprietary technology captures atmospheric carbon dioxide and produces green hydrogen using seawater electrolysis, a process that activates the ocean's natural carbon absorption capacity.
- By addressing both climate mitigation and clean energy generation, Equatic's dual-function approach is a powerful tool in the fight against climate change and the transition towards a sustainable, carbon-neutral future.
- With the successful closure of a Series A funding round worth US$11.6 million, Equatic is expanding its operations and scaling up its engineering and technological development, moving one step closer to achieving its environmental-science goals and contributing to the global efforts against climate change.
