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pHathom Technologies has successfully completed its seed financing round, raising $4 million and surpassing $12 million in total committed capital. The round was led by Propeller Ventures and included contributions from the New Brunswick Innovation Foundation, Invest Nova Scotia, and Carmeuse Ventures.

The funding will enhance pHathom's efforts in carbon capture technology, particularly in conjunction with a $16 million project under Canada’s Ocean Supercluster. The technology captures biogenic CO2 from coastal bioenergy facilities and converts it into stable forms, allowing for carbon storage without new infrastructure. Pilot projects will focus on reducing emissions from existing facilities, supported by robust scientific and regulatory frameworks.