$11.6 M invested in climate tech company Equatic by Temasek Trust and Kibo Invest
The $11.6 million Series A funding round for Equatic, a global leader in the removal of carbon dioxide and the production of green hydrogen, was successfully closed on Monday.
The company said in a statement that Kibo Invest, a private investment office based in Singapore that specializes in climate technology, and Catalytic Capital for Climate and Health (C3H), a catalytic vehicle by Temasek Trust, were leading the round. Equatic’s patented seawater electrolysis technology will be commercialized and its engineering scale-up expedited by the funding round, which is being participated in by a group of international investors.
Equatic’s first 100-kilotonne carbon dioxide removal (CDR) commercial facility is still being engineered, and this significant investment will help with additional commercialization, manufacturing, and technological advancement.
Equatic’s in-house technology advances two crucial net-zero pathways by capturing atmospheric carbon dioxide and producing green hydrogen in a single, scalable process.
“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 N. Sant, Founder and Chief Technology Officer, Equatic.
“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,” he added.
According to Lord John Browne, the former CEO of British Petroleum, founder and chairman of BeyondNetZero, and chairman of Equatic’s advisory board, genuinely innovative carbon management technologies are required to slow down climate change before its effects become irreversible.
“By removing carbon dioxide and simultaneously generating green hydrogen, Equatic’s solution provides unique advantages in terms of cost and scalability,” he added.
Equatic’s technology and strategy are an example of the kind of audacious and scalable innovation that is consistent with C3H’s mission, said Ryan Tan, Head of C3H.
“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,” he added.
Equatic technology has been successfully implemented at two pilot plants in Singapore and Los Angeles since operations began in 2023.
Equatic-1, a demonstration plant in Singapore, and a commercial-scale plant in Canada are the company’s current expansions.
The U.S. production of oxygen-selective anodes, which enable scalable hydrogen production through direct seawater electrolysis, was a major climate breakthrough announced by Equatic in September 2024.
Equatic’s adoption of an ISO-14064 standard for MRV, which it first published in May 2023, demonstrates its dedication to high-integrity carbon removal.
