GIT Raises CAD$10M Series A to Decarbonize Marine Shipping Globally
Graphite Innovation & Technologies Inc. (GIT) has announced the successful closing of its CAD$10 million Series A financing round. The round was led by BDC Capital’s Climate Tech Fund, in collaboration with a global syndicate of climate, ocean and maritime investors including Seventure Partners’ Blue Forward Fund (France), Stolt Ventures (UK), the investment arm of Stolt-Nielsen, Farvatn Ventures (Norway), Melancthon Capital (Canada), Invest Nova Scotia (Canada), and other new and existing investors.
“The global shipping industry has a dual challenge. It must meet the demand to transport goods and people, while radically reducing its GHG emissions,” said GIT’s CEO, Mo AlGermozi. “GIT is propelling the marine sector forward towards its sustainably goals and this investment will help us reach even more customers around the globe. Our eco-friendly marine coatings increase hull and propeller efficiency, delivering significant fuel savings and GHG emissions reductions relative to existing coatings.”