Temasek Trust’s Catalytic Capital for Climate and Health (C3H) has co-led a US$11.6 million ($14.89 million) Series A round in Equatic, whose patented seawater electrolysis process accelerates the ocean’s ability to absorb and permanently store carbon at scale and simultaneously produce carbon-negative hydrogen.
Kibo Invest, a Singapore-based private investment office with a focus on climate technology, is a co-lead in the round. Other participants include Stacey Nicholas, the Aga Khan Foundation, Adam McKay, Lee Cooper and Grantham Neglected Climate Opportunities.
According to an Aug 12 announcement, the Series A financing will support the ongoing engineering of Equatic’s first 100-kilotonne carbon dioxide removal (CDR) commercial facility — located in Canada. The fresh funds will also support further commercialisation, manufacturing and technological development.
Equatic’s proprietary technology removes carbon dioxide from the atmosphere and produces green hydrogen in a single scalable process. Since commencing operations in 2023, the Equatic technology has been validated through pilots in Los Angeles and Singapore.
The company, formerly known as SeaChange, is now expanding its operations with a demonstration plant in Singapore known as Equatic-1 and a commercial-scale plant in Canada.
Equatic has also adopted an ISO-14064 standard for Monitoring, Reporting and Verification (MRV), validated by two leading carbon removal registries — Isometric and Puro.earth — making it one of the only marine companies able to issue high-quality CDR credits under both registries, according to C3H.
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C3H is a catalytic vehicle by Temasek Trust that provides capital to innovative, early-stage companies in climate and health.
“Equatic’s technology and approach exemplify the type of bold and scalable innovation that aligns with C3H’s mandate,” says C3H head Ryan Tan. “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.”
In 2021, Equatic won The Liveability Challenge, the global crowdsourcing platform for sustainability solutions presented by Temasek Foundation, and was awarded $1 million in catalytic funding. It piloted its carbon removal technology in Singapore in collaboration with national water agency PUB.
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In September 2024, Equatic was named a finalist for The Earthshot Prize (TEP), a global challenge that spotlights and supports innovative solutions to repair the planet. Temasek Trust is a founding partner of TEP.
“We are deeply grateful to all our investors and partners for their support of Equatic. This financing catalyses Equatic’s mission to deliver cost-effective and durable carbon removal at scale,” says 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 are excited to accelerate our journey with partners who share our thesis that technology translation and innovation is fundamental to mitigate worsening climate change, quickly and at scale.”
