Listen to this article
STAX Engineering secures $40 million to expand its fleet of mobile emissions capture and control barges, enhancing compliance with California’s stringent air quality regulations. This funding will enable STAX to double its fleet by year-end, addressing emissions from container ships, auto carriers, and tankers. The company aims to significantly reduce maritime emissions, contributing to global environmental sustainability.
The $40 Million Milestone: A Game Changer for STAX Engineering
STAX Engineering recently secured $40 million in a funding round led by Upper90, a leading provider of hybrid growth capital. This significant financial boost is aimed at expanding STAX’s fleet of mobile emissions capture and control barges. The funds will be utilized to enhance the company’s capabilities in reducing maritime emissions, particularly at California ports. This investment underscores the growing importance of environmental compliance in the shipping industry and reflects the urgent need for innovative solutions to meet stringent emissions standards.
Expanding the Fleet: Doubling Down on Emissions Control
Since its launch in early 2024, STAX Engineering has seen rapid growth, establishing itself as a key player in emissions control technology. Currently, STAX operates a fleet of mobile emissions capture and control barges that serve major California ports, including Los Angeles, Long Beach, and Oakland. With the new funding, STAX plans to double its fleet by the end of the year, enhancing its ability to service a broader range of vessels, including container ships, auto carriers, and tankers.
Meeting Stricter Regulations: California’s Air Quality Standards
California Air Resources Board (CARB) regulations are among the most stringent in the world, requiring significant reductions in emissions from maritime vessels. STAX Engineering’s technology is designed to help shipping companies comply with these regulations without costly retrofits. The company’s systems capture and filter exhaust emissions, removing 99% of particulate matter and 95% of oxides of nitrogen. As CARB expands its regulations to include tanker vessels in January 2025, STAX is well-positioned to provide compliant solutions to this newly regulated class.
Cutting-Edge Technology: STAX’s Innovative Solutions
STAX Engineering’s emissions capture and control technology represents a significant advancement in the maritime industry. The company offers mobile, land-based, and barge-based solutions that are versatile and cost-effective. These systems are designed to fit all types of ships without modification, making them an attractive option for shipping companies looking to meet regulatory requirements. The technology captures exhaust emissions, filters out harmful pollutants, and releases purified gas. To date, STAX has treated 83 at-berth vessels for a cumulative 4,000 hours, controlling 31 tons of pollutants.
Recommended: Volumez Secures $40 Million Series A Funding To Innovate Cloud-Aware Data Management
Strategic Partnerships: Collaborating for a Greener Future
STAX Engineering has secured exclusive service agreements with major international shippers, including NYK Line and Hyundai GLOVIS. These partnerships enhance STAX’s ability to service a wide range of vessels and expand its market reach. Upper90’s investment plays a crucial role in supporting STAX’s growth, providing the capital needed to scale operations and meet increasing demand. These collaborations are essential for advancing environmental sustainability in the maritime industry and achieving broader emissions reduction goals.
Addressing Global Challenges: The Bigger Picture
The maritime sector is a significant contributor to global emissions, and effective emissions control solutions are critical for environmental sustainability. STAX Engineering aims to capture 1% of global CO2 emissions, contributing to global efforts to combat climate change. The company’s technology not only helps shipping companies comply with regulations but also supports global initiatives to reduce greenhouse gas emissions. By providing effective emissions capture and control solutions, STAX is playing a vital role in creating a cleaner and more sustainable future for the shipping industry.
A Step Towards Cleaner Air and Sustainable Shipping
STAX Engineering’s recent $40 million funding round marks a significant milestone in the company’s journey towards enhancing maritime emissions control. The expansion of its fleet and technology advancements will enable STAX to meet the increasing regulatory demands and service a broader range of vessels. These efforts not only benefit the shipping industry but also contribute to global environmental sustainability. As STAX continues to innovate and grow, it is set to play a pivotal role in reducing maritime emissions and promoting cleaner air at ports worldwide.
Please email us your feedback and news tips at hello(at)techcompanynews.com
