New contracts with ZIM and K-Line drive momentum as STAX scales emissions control across global shipping fleets, supported by $70 million in funding led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure
LOS ANGELES, Feb. 26, 2025, a pioneer in maritime emissions capture and control, today announced $70 million in funding led by Firstime Credit and Deutsche Bank Private Credit & Infrastructure, alongside the launch of new carbon capture trials with Seabound, a leader in onboard carbon capture technology. The investment will fuel STAX's rapid growth, scaling the deployment of its emissions capture and control technology while advancing carbon capture initiatives-bringing the company closer to its goal of capturing 1% of global greenhouse gas emissions.
In parallel with this funding, STAX has 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, while Kawasaki Kisen Kaisha, Ltd. (K-Line), a leading Japanese shipping company, specializes in containers, bulk cargo, and automotive logistics. They join 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.
"We're building real momentum at STAX, and this funding marks a pivotal moment for both our company and the maritime industry," said Michael Walker, CEO of STAX Engineering. "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."
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 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. Early results are promising, reinforcing the feasibility of integrating carbon capture into STAX's systems, with full-scale deployment planned for late 2025.
"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," 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."
The $70 million investment-$60 million 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.
"This funding round directly reflects our confidence in STAX's groundbreaking technology, sustainable innovation, and vision," said Yoni Ophir, CEO of Firstime Credit. "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."
"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," said Alexander Gorokhovskiy, Head of North America Venture and Corporate Direct Lending at Deutsche Bank Private Credit & Infrastructure.
Since its launch in Q1 2024, STAX has established itself as the only emissions solution servicing all major vessel classes in California, including container ships, auto carriers, and tankers. As California's new California Air Resource Board (CARB) emissions standards took effect in Jan. 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 innovative 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. 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, reinforcing its commitment to comprehensive emissions capture solutions for a clean-air future.
About STAX Engineering
STAX's patented, flexible exhaust capture system is 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. STAX removes 99% of particulate matter.
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