pHathom Technologies Secures Over $12M in Total Capital with Seed Financing Round Completion
pHathom Technologies has closed its seed financing round, raising $4 million, bringing total committed capital to over $12 million. The investment, led by Propeller Ventures with participation from the New Brunswick Innovation Foundation, Invest Nova Scotia, and Carmeuse Ventures, will support the development of its carbon capture platform. pHathom is involved in a $16 million Bioenergy Carbon Capture and Marine Storage Project through Canada's Ocean Supercluster, aiming for verifiable carbon capture utilizing existing coastal infrastructure.
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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.
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