Halifax-based pHathom Technologies, a climate technology company developing carbon capture solutions for existing coastal bioenergy and industrial facilities, has closed a $4 million seed financing round.
The capital will accelerate deployment of pHathom’s platform for verifiable carbon capture and durable storage using existing coastal infrastructure. Combined with the company’s lead role in the $16 million Bioenergy Carbon Capture and Marine Storage Project supported by Canada’s Ocean Supercluster, the financing brings pHathom’s total committed capital to more than $12 million.
Founded in 2024 by Dr. Kimberly Gilbert, pHathom was recently named one of CleanEnergy.ca’s 10 Canadian Clean Energy Startups to Watch in 2026.
The seed round was led by Propeller Ventures, with participation from the New Brunswick Innovation Foundation, Invest Nova Scotia, and strategic investor Carmeuse Ventures.
In simple terms, pHathom 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 treated water is returned under closely matched conditions, without requiring atmospheric carbon drawdown, new pipelines, long-distance transport, or geological injection.
By operating entirely within existing industrial sites and regulatory frameworks, the approach is designed to deliver durable, verifiable carbon storage while minimizing environmental and permitting complexity. The technology has been developed to meet rigorous scientific standards for monitoring, reporting, 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 standards, and can be governed using established regulatory frameworks.”
The investment will support pilot projects aimed at reducing baseline biogenic greenhouse gas emissions from bioenergy facilities, alongside the scientific, monitoring, and regulatory work required to validate the approach for broader deployment.
“We’re thrilled to support pHathom as they accelerate development of their carbon removal technology,” said Steven Fox, Partner at Propeller Ventures. “The team is addressing carbon removal with highly scalable technology focused on durable outcomes from existing emitters. This financing positions pHathom to validate impact and serve early partners.”
Carmeuse Ventures, an early-stage corporate venture firm focused on climate and deep technology, also participated in the round. “This investment aligns with our strategy to support industrial decarbonization,” said Aurélie Dusausoy, Director at Carmeuse Ventures. “pHathom’s science-based approach translates into measurable climate benefits, consistent with our commitment to sustainability and innovation.”
As further market validation, pHathom was selected for an advanced purchase of carbon removal by Frontier, whose buyers include Stripe, Shopify, and Google. The company was also named Foresight’s 2025 Atlantic Canada Startup of the Year.
pHathom says it remains focused on building trust through rigorous science, transparent measurement, and constructive engagement with regulators and researchers as bioenergy carbon capture and storage moves from research into real-world deployment.