NBIF Backs pHathom Technologies’ $4M Raise to Power a Scalable Climate Solution

New Brunswick Innovation Foundation

 

 

From an early-stage idea to a pilot plant in motion, pHathom Technologies is proving how New Brunswick–born innovation can help tackle one of the world’s most urgent challenges: carbon emissions.

NBIF was the first institutional investor in pHathom Technologies, a Moncton-based climate tech company that recently closed a $4M CAD financing round in January 2026. NBIF’s early conviction now totals $850,000 in investment, including $500,000 in this latest round and $350,000 invested in 2024. The round was led by Propeller Ventures, with participation from Invest Nova Scotia and strategic investor Carmeuse Ventures.

NBIF’s early conviction is now paying off.

pHathom is developing a scalable, at the source carbon capture solution for biomass power plants, using ocean-based storage to permanently remove CO₂ from the atmosphere. With this latest financing, the company will move from concept to execution by building its pilot plant, with testing underway at the Huntsman Marine Science Centre in St. Andrews, New Brunswick – a major milestone on the path to commercialization and global impact.

“pHathom is exactly the kind of company we exist to support,” said Jeff White, President and CEO of NBIF. “We were the first to invest because we saw the potential early – strong leadership, breakthrough technology, and a solution that aligns with New Brunswick’s strengths in ocean and clean technologies. This round marks a critical step forward, not just for the company, but for the province’s role in the global climate transition.”

Co-founded in 2024 by CEO Dr. Kim Gilbert, pHathom has quickly built momentum. The company has raised more than $12M in committed capital to date, including securing a $15.9M Ocean Supercluster project, underscoring both market confidence and the urgency of its solution.

“Having NBIF as our first investor meant more than early capital – it meant early belief,” explained Kim Gilbert. “From the beginning, NBIF understood our vision for responsible carbon removal and shared our commitment to building something that delivers real, measurable impact. That kind of alignment is incredibly powerful at the earliest stages of a company, and we’re thrilled to have the support in New Brunswick.”

For New Brunswick, this investment reflects NBIF’s mandate to fuel innovation, grow priority sectors, and generate long-term economic returns. As pHathom scales, it brings high-value jobs, technical expertise, and international visibility to the province’s ocean and cleantech ecosystem.

From winning NBIF’s Female Founder Pitch Competition at Atlantic Venture Forum to breaking ground on a pilot plant, pHathom’s journey shows what’s possible when bold founders are met with early, strategic support.

NBIF is proud to continue backing that journey, right from the beginning.