Equatic, a climate technology startup, has announced the successful raising of $11.6 million in a Series A funding round. The funds will be utilised to scale up its innovative seawater electrolysis technology, which facilitates carbon removal and the production of green hydrogen.
Founded in 2021, the California-based company has developed an electrolytic process that enhances the ocean’s capacity to absorb and permanently store carbon. This process also produces carbon-negative hydrogen as a by-product. Equatic’s system involves pumping seawater into an onshore plant, where renewable energy is used to split the seawater into hydrogen, oxygen, acid, and base streams. The acid stream is neutralised with crushed rock to prevent ocean acidification, while the base stream interacts with the atmosphere to remove CO2. The seawater is then discharged, containing residual dissolved and solid inorganic carbon.
The hydrogen generated through this process can either replace up to 40% of the energy required for carbon dioxide removal or be sold to decarbonise industries that are challenging to abate.
Equatic has already implemented its technology at pilot plants in Los Angeles and Singapore. The company is expanding its operations with a demonstration plant in Singapore and a commercial-scale facility in Canada. The newly acquired capital will support the engineering of this commercial facility, alongside efforts in commercialisation, manufacturing, and technological advancement.
Gaurav N. Sant, Equatic’s Founder and Chief Technology Officer, stated: “This investment marks a pivotal moment for Equatic, enabling us to significantly scale our production capabilities and accelerate our mission to deliver durable carbon removal at scale.”
The Series A round was led by Temasek Trust’s climate and health-focused vehicle, Catalytic Capital for Climate and Health (C3H), and the climate tech-focused private investment office, Kibo Invest. Ryan Tan, Head of C3H, remarked: “Equatic’s technology and approach exemplify the type of bold and scalable innovation that aligns with C3H’s mandate. We are delighted to support Equatic’s goal in advancing promising climate mitigation solutions that offer permanent, durable carbon removal with green hydrogen production for scalable, tangible impact and commercial benefit.”
James Marshall, CEO of Kibo Invest, added: “Equatic represents an exciting opportunity to scale deep-tech innovation that addresses two critical needs: decarbonisation and clean energy. As an investor focused on climate solutions, we are proud to partner with C3H and Equatic to help bring this breakthrough technology to commercial scale.”
