Seabound Analysis: $4M Raised
What is Seabound?
Seabound builds retrofittable onboard carbon capture equipment for large cargo ships. Its system sits adjacent to a ship’s funnel and captures up to 95% of CO2 from exhaust, using patent-pending technology. The company says it locks carbon into solid carbonate pebbles that are offloaded and stored later.
Location
London, United Kingdom
Employees
11-50
Founded
2021
Revenue
$2.7-6.2M
Product Features & Capabilities
- ocean-ready carbon capture system, retrofittable design, captures 25-95% CO₂ emissions, locks CO₂ in solid carbonate pebbles, low CAPEX, simple and compact design, fast installation, fully automated, remotely monitored, simple logistics for offloading carbonate, carbonate recycled for reuse, CO₂ sequestered or sold for fuel production.
How much Seabound raised
1 - $4.4 million
May 20, 2022Lead Investor: Y Combinator, other undisclosed investors
Who are the founders of Seabound
AF
Alisha Fredriksson
CEO, Co-founder
Investors
- Chris Sacca's Lowercarbon Capital
- Eastern Pacific Shipping
- Emles Venture Partners
- Hawktail
- Rebel Fund
- Soma Capital
Market Focus
Seabound primarily focuses on the carbon capture technology industry, specifically targeting the maritime sector by providing solutions for shipowners to reduce greenhouse gas emissions.
Business Model
Revenue from sales and installation of carbon capture systems for ships.
Competitors Overview
Seabound operates in the ocean-ready carbon capture technology market, where it faces competition from several notable companies:
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Value Maritime: This company has developed a "plug and play" Filtree System that captures CO₂ emissions from ships. Their technology can potentially capture up to 100% of a vessel's CO₂ emissions, making it highly effective. Value Maritime's system is designed for easy installation and operation, which can be a significant advantage for shipowners looking to retrofit existing vessels.
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Mitsubishi: Mitsubishi is working on a carbon-capture system for ships that promises to reduce emissions by up to 90%. Their approach includes collaborations with research institutions to enhance the technology's effectiveness in marine environments. Mitsubishi's established reputation in the maritime industry and their extensive resources may provide them with a competitive edge in developing and deploying carbon capture solutions.
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Wartsila: Although specific details about Wartsila's carbon capture technology were not found, they are known for their innovations in marine technology and have been involved in various sustainability initiatives. Their experience and existing relationships within the maritime sector could position them well in the carbon capture market.
Notable differences include Value Maritime's focus on a fully integrated system that can capture all emissions, while Mitsubishi emphasizes significant reductions in emissions through advanced technology. Seabound's unique selling proposition lies in its ability to lock CO₂ emissions in solid carbonate pebbles, which may offer a different approach to carbon management compared to its competitors.
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