a day ago
- Business
- Los Angeles Times
Climate-focused Equatic Raises $11.6 Million Series A Round
Santa Monica-based Equatic raised $11.6 million in a Series A round led by Catalytic Capital for Climate and Health (C3H), a catalytic vehicle by Temasek Trust, and Kibo Invest, a Singapore-based private investment office with a focus on climate technology. The funding will accelerate the engineering scale-up and commercialization of Equatic's patented seawater electrolysis technology.
This fund supports the ongoing engineering of Equatic's first 100-kiloton carbon dioxide removal commercial facility, alongside further commercialization, manufacturing and technological development. Its technology is designed to capture atmospheric carbon dioxide and produce green hydrogen in a single, scalable process, advancing two critical net-zero pathways.
'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,' said Gaurav Sant, founder and chief technology officer of Equatic, in a statement. 'The Temasek Trust ecosystem has been a foundational partner to Equatic, from early-stage philanthropic backing from Temasek Foundation to catalytic investment through C3H. We welcome Kibo Invest as co-lead and recognize their commitment to invest in companies that are revolutionizing industries and addressing urgent climate challenges.'
The company was founded in 2023 and has successfully deployed technology at two pilot plants in Los Angeles and Singapore. It is expanding its operations with a demonstration plant in Singapore, known as Equatic-1, and a commercial-scale plant in Canada.
Information for this article was sourced from Equatic.
