Captura raises $12.5M in first close of Series B financing to expand electrodialysis platform across critical minerals, carbon removal, and industrial markets

Funding was led by Equinor Ventures and will support expanded U.S.-based manufacturing of Captura’s electrodialysis systems amid growing commercial demand

Raise comes as Captura delivers its first systems for lithium extraction and advances commercially validated Direct Ocean Capture technology

PASADENA, Calif., Thursday, 25 June, 2026 – Captura, a U.S.-based electrochemical platform provider and carbon removal company, today announced the first close of a US$12.5 million Series B financing round. The funding will enable Captura to expand domestic manufacturing of its bipolar membrane electrodialysis platform for a range of resource-critical markets, including critical minerals, industrial water, energy storage, and carbon management.

Located in Pasadena, Captura operates the only U.S.-based manufacturing facility producing complete electrodialysis systems and is planning increased production capacity to meet growing demand for energy-efficient, low-cost electrochemical solutions.

The financing was led by Equinor Ventures, alongside continued support from existing investors across the energy, maritime, and aviation sectors, including Aramco Ventures, EDP Ventures, Eni Next, Freeflow Ventures, Hitachi Ventures, Japan Airlines & TransLink Innovation Fund, L.P. (JAL Innovation Fund), Maersk Growth, mTerra Ventures, and National Grid Partners. Equinor’s investment follows the successful commercial validation of Captura’s Direct Ocean Capture (DOC) technology through a joint technology qualification program and builds on a long-term collaboration agreement between the companies.

“Our decision to lead this round builds on strong progress in our partnership with Captura, including the joint development of a 1,000-ton pilot system and completion of the technology qualification program,” said Katherine Peachey, Head of Equinor Ventures. “We are pleased to deepen our support as Captura scales U.S. manufacturing and advances toward broader commercial deployment.”

Captura’s PFAS-free bipolar membrane electrodialysis platform was first developed to power its DOC system, an engineered carbon removal solution that removes CO₂ from seawater for permanent storage or utilization. The platform uses a specialized stack of membranes to generate acid and base streams, and Captura’s proprietary technology has demonstrated greater performance than leading alternatives while significantly reducing energy and capital costs.

Image: Rolls of Captura’s proprietary membranes

Alongside the continued scale-up of DOC, the company’s membranes and electrodialysis stacks are now being commercialized across multiple industrial applications where low-cost, on-site acid and base generation is critical. These include direct lithium extraction, desalination and wastewater valorization, and long-duration energy storage supporting AI and data center infrastructure. Applying Captura’s platform across these sectors can unlock significant improvements in resource efficiency and security, cost structure, and sustainability performance.

Captura will use Series B funds to transition its Pasadena facility into commercial production, which includes an increase in annual polymer production, membrane casting, and stack fabrication capacity to support growing demand across multiple markets. In 2026, Captura secured purchase orders for its first electrodialysis stacks serving the lithium extraction market, with initial deliveries expected this summer.

“Captura is entering a new phase of commercial execution,” said Steve Oldham, CEO of Captura. “We are now manufacturing electrodialysis systems for customers while continuing to advance commercial deployment of direct ocean capture globally. This financing allows us to scale the only U.S.-based manufacturing capability of its kind at a time when demand is accelerating for high-performance electrochemical solutions. We’re grateful for the continued support of our investors and, given our momentum, look forward to welcoming additional investors who share our vision for transformative platform technologies.”

Following two years of joint development, Captura and Equinor recently completed a technology qualification program that validated the DOC system against commercial operating requirements. This provided a rigorous validation pathway for the underlying electrodialysis platform, while also supporting the advancement of first commercial DOC projects. Captura is now working with global partners on commercial DOC plant design and evaluating candidate sites across the United States, Europe, the United Kingdom, and Asia-Pacific. First facilities are expected to capture between 30,000 and 50,000 tonnes of CO₂ annually.

Image: Captura and Equinor’s joint 1000 ton-per-year Direct Ocean Capture pilot plant in Kona, Hawaii