Americas News
STAX Secures $150 Million for Ship Emissions Capture Expansion
US-based STAX Engineering has secured a $150 million financing commitment from Bain Capital to expand its emission capture technology for shipping.
The funding will support contracted fleet builds through 2027 and strengthen STAX's deployment of barge-based emissions capture systems at ports across California, the firm said in a press release on Tuesday.
The investment comes ahead of California's January 1, 2027, tanker emissions compliance deadline under the California Air Resources Board’s (CARB) At-Berth Regulation
STAX Engineering's system captures a ship's exhaust emissions by extending a flexible arm from a barge or a land-based platform and connecting it to the ship's exhaust funnel.
The exhaust emissions are then directed through STAX's filtration system, which removes up to 99% of particulate matter and 95% of nitrogen oxides emissions before releasing the filtered air back into the atmosphere.
STAX also signed an agreement with IMTT to provide emissions capture services at its Richmond terminal, adding to a recently announced deal with TransMontaigne covering its Richmond and Martinez facilities.
The company said the agreements are expected to support more than 6,400 at-berth service hours through 2031.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Americas Average | 962.50 | 8.50 | 1630.50 | 22.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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