Seabound Secures £1.1M Grant for Marine Innovation
Transforming the Future of Maritime Sustainability: Seabound Secures £1.1M Grant
In an exciting leap towards revolutionizing marine sustainability, Seabound, a pioneering UK-based company specialized in marine carbon capture, has been awarded a significant £1.1M grant through Round 6 of the UK Government’s Clean Maritime Demonstration Competition (CMDC6). This funding is designed to spearhead a transformative project that will integrate Seabound’s innovative carbon capture technology with the STAX Engineering emission capture and control system at the bustling Port of Southampton. The collaboration, supported by Associated British Ports (ABP), was first announced during the inaugural Maritime UK Solent Coastal Powerhouse Summit, where industry leaders gathered to discuss innovative solutions for reducing maritime emissions.
Founded in late 2021, Seabound has swiftly established itself as a frontrunner in developing modular carbon capture systems specifically for maritime applications.
The company recently celebrated a milestone achievement by completing the world’s first port-based CO₂ capture demonstration at the Port of Long Beach in partnership with STAX Engineering. Additionally, in a successful prior pilot project with lomarlabs and Hapag-Lloyd, Seabound impressively captured approximately 80% of CO₂ emissions from a container ship operating in the Middle East. These advancements not only showcase the company’s commitment to environmental sustainability but also enhance its attractiveness for potential investors looking to support breakthrough technologies.
To date, Seabound has raised a commendable total of $6.8M from prominent investors including Lowercarbon Capital, Y Combinator, Eastern Pacific Shipping, Elemental Impact, and Collaborative Fund. Furthermore, the company has benefited from £2.3M in grant funding received from the UK Government through the Clean Maritime Demonstration Competition. As the maritime industry faces increasing pressure to reduce carbon emissions, Seabound’s innovative solutions represent not only a necessary shift in practice but also a lucrative opportunity for startup founders and investors eager to participate in the future of sustainable maritime technology. Investing in Seabound may well lead to riding the wave of a cleaner, more sustainable oceanscape.
Key Terms Explained
- Marine Carbon Capture
- A technology focused on capturing and storing carbon dioxide emissions from maritime operations to reduce their impact on the environment.
- Investors
- Individuals or organizations which provide capital to startup companies with the expectation of receiving a return on their investment.
- Clean Maritime Demonstration Competition (CMDC6)
- A UK Government initiative designed to fund innovative projects that promote environmentally friendly practices in the maritime industry.
Frequently Asked Questions
- What funding has Seabound recently secured?-Seabound has recently secured a £1.1M grant through Round 6 of the UK Government’s Clean Maritime Demonstration Competition.
- What are some key achievements of Seabound that may interest investors?+
- Who are some of the prominent investors in Seabound?+
- What is the total funding raised by Seabound to date?+
- Why might investing in Seabound be attractive to startup founders and investors?+
They've invested in Seabound
Get to know these Greentech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Y Combinator( ) | ||||
 Eastern Pacific Shipping( ) | ||||
| All investors | All investor sectors | All funded startups | All funding rounds |
Click here for a full list of 7,589+ startup investors in the UK