Making Waves: pHathom Raises C$4 million to Scale its Coastal Carbon Capture Technology

Inside pHathom’s weathering reactor, captured carbon dioxide is combined with a slurry of abundant limestone and seawater. This process converts the carbon dioxide into bicarbonate, which is a naturally occurring and ocean-stable form of carbon that can then be safely stored for tens of thousands of years.

The company recently closed a C$4 million equity financing round, bringing its total committed capital to more than C$12 million. The round was led by Propeller Ventures, with participation from Carmeuse Ventures, Invest Nova Scotia and the New Brunswick Innovation Foundation. According to Dr. Kimberly Gilbert, CEO of pHathom, the funding will allow the company “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.”

Looking ahead, pHathom plans to launch a pilot project in late 2027, followed by the development of a commercial-scale unit to further validate its technology. The company’s vision is to have removed millions of tonnes of atmospheric carbon dioxide by 2035, resulting in impactful, community-supported climate action.

pHathom’s work is already drawing industry attention. It was named Startup Venture of the Year at the 2025 Atlantic Canada Cleantech Awards. It was also recognized as one of CleanEnergy.ca’s 10 Canadian Clean Energy Startups to Watch in 2026, signalling growing momentum behind its efforts to scale durable carbon dioxide removal.