Excited to partner with Michael Walker and the STAX Engineering team to bring enterprise climate solutions to the maritime industry. Providing growth credit for this infrastructure buildout was a unique opportunity for Upper90.
It’s an exciting day for the team at STAX: we're thrilled to announce we have closed a $40 million funding round. The round was led by Upper90, a leading provider of hybrid growth capital. Since our official launch in Q1, STAX has experienced rapid growth, securing exclusive service agreements with major ports and leading international shippers, including NYK Line and Hyundai Motor Company (현대자동차). This significant investment will enable us to expand our fleet of emissions capture and control barges to meet increasing demand across container and auto carrier classes as well as broaden coverage to include tankers, which will become subject to California Air Resources Board regulations in January 2025. By year-end, we will double our fleet to address stricter emissions regulations at California ports. We extend our gratitude to Upper90 for their support and belief in our vision for a cleaner, more sustainable maritime industry. Learn more about our journey and technology at www.staxengineering.com. #MaritimeInnovation #CleanEnergy #Sustainability #FortheFuture