pHathom Technologies Surpasses $12M Committed Capital with Closure of Seed Financing Round

HALIFAX, Nova Scotia -- pHathom Technologies, a climate technology company developing carbon capture solutions for existing coastal bioenergy and industrial facilities, today announced the closing of its seed financing round. The capital will accelerate the development and deployment of pHathom’s platform for verifiable carbon capture and durable storage using existing coastal infrastructure. Combined with its lead role in the $16 million Bioenergy Carbon Capture and Marine Storage Project through Canada’s Ocean Supercluster, the successful close of its $4 million equity round brings pHathom’s total committed capital past $12 million.

“Reducing emissions from large facilities isn’t enough unless the solution is durable, verifiable, and responsible,” said Dr. Kimberly Gilbert, CEO of pHathom Technologies.

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The round was led by Propeller Ventures, with participation from the New Brunswick Innovation Foundation (NBIF), Invest Nova Scotia, and strategic investor Carmeuse Ventures. pHathom’s approach captures biogenic carbon dioxide from existing coastal bioenergy facilities and converts it, through controlled land-based industrial processes, into stable dissolved inorganic carbon forms that already occur naturally in seawater. The facility’s treated water is returned at closely matched conditions to the receiving waters, without inducing atmospheric carbon drawdown or requiring any intervention or manipulation in the marine environment.

This enables durable, verifiable carbon storage outcomes without requiring new pipelines, long-distance transport, or geological injection, while operating entirely within existing industrial and regulatory footprints. The technology is designed to meet the highest standards for measurement and verification.

“Reducing emissions from large facilities isn’t enough unless the solution is durable, verifiable, and responsible,” said Dr. Kimberly Gilbert, CEO of pHathom Technologies. “This investment allows us to demonstrate a bioenergy carbon capture pathway that works within existing infrastructure, meets high scientific and measurement standards, and can be governed using established regulatory frameworks.”

The investment will support pilot projects focused on reducing baseline biogenic greenhouse gas emissions from bioenergy facilities, alongside the scientific, monitoring, and regulatory work required to responsibly validate this approach for wider deployment.

“We’re thrilled to support pHathom as they close this investment round and accelerate the development of their carbon removal technology,” said Steven Fox, Partner at Propeller Ventures. “The team is addressing carbon removal with highly-scalable, customer-first technology for durable carbon removal from existing emitters. This financing positions pHathom well to serve initial partners, validate impact, and play a meaningful role in the carbon removal market.”

Carmeuse Ventures, an early-stage corporate venture capital firm investing in climate and deep tech, also participated in the round. “This investment is consistent with our strategy to support technologies contributing to industrial decarbonization,” said Aurélie Dusausoy, Carmeuse Ventures Director. “Leveraging Carmeuse’s 166 years of industrial expertise and engineering capabilities, we aim to help pHathom build on our internal skills to create value beyond the provided capital. Their science-based approach translates into measurable climate benefits, consistent with our commitment to driving innovation and sustainability.”

As further market validation, pHathom was selected for Frontier’s advanced purchase of carbon removal — representing buyers including Stripe, Shopify, and Google — and was named Foresight’s 2025 Atlantic Canada Startup of the Year. The company remains focused on building trust through rigorous science, transparent measurement, and constructive engagement with regulators, researchers, and policymakers as bioenergy carbon capture and storage moves from research into real-world deployment.

About pHathom Technologies

pHathom Technologies is a Canadian cleantech company founded in 2024 developing scalable, high-integrity carbon capture and storage solutions. The company's technology is designed to reduce emissions from existing facilities, operate without degrading ocean chemistry or ecosystems, and align with domestic and international climate governance frameworks. By combining scientific rigor with collaboration across industry and policy sectors, pHathom advances permanent carbon removal in support of global net-zero goals. Learn more at https://phathom.tech