Ground-breaking graphite coatings company scaling up

GIT produces graphene-based, eco-friendly marine coatings which can help vessel owners and operators increase fuel efficiency, reduce drag, and optimise a vessels’ hydrodynamics and overall performance.

This could enable a vessel to score higher on the Carbon Intensity Indicator (CII), a critical measurement of energy efficiency and emissions per vessel, which came into force in January 2023.

GIT’s coatings do not contain any biocides, nor silicone-oils, and therefore do not leach toxins or microplastics into the oceans, unlike traditional marine coatings currently available on the market.

The Series A funds will be used to expand production capacity of GIT’s sustainable marine coatings, grow its global customer base, invest in the development of next-generation coatings, and build strategic partnerships to accelerate commercialisation.

BDC Capital’s Climate Tech Fund partner Matt Stanley said, “The shipping industry is working to develop and adopt innovations to transition towards net-zero emissions and GIT has created an innovative ocean technology that not only meets this need, but delivers additional benefits to the fragile marine ecosystem.”

He added, “With proven products that deliver an attractive ROI for vessel owners and operators, ambitions to scale, and a commitment to help solve the climate crisis, GIT is exactly the type of company we like to invest in.”

In addition to the fuel efficiency benefits, GIT’s coatings absorb underwater-radiant noise, which can reduce stress on sensitive marine life and ecosystems that are rich in biodiversity, thereby improving ’Life Below Water’ (SDG 14).

GIT reports its graphene-based coatings can be applied across a wider temperature range (-5 to 40°C) compared with traditional marine coatings, thereby increasing the length of the coating season.

Seventure Partners chief executive and managing partner Isabelle de Cremoux, said, “GIT is bringing to market a suite of science-based marine coatings able to make a valuable difference on both the energy efficiency of vessels and the conservation of marine ecosystems. Blue Forward Fund is delighted to combine impact and financial performance and to support GIT, which is bringing an immediately actionable solution towards a more efficient and sustainable shipping industry.”

Invest Nova Scotia vice president of investment, Lidija Marusic said, “The GIT team has done an impressive job of navigating the start-up journey to bring a new class of marine coatings to a large market in need of innovation. This investment round brings valuable new partners to the company and marks the transition from R&D phase to commercialisation and growth stage. We are happy to play a part in GIT’s success.”

Hear more of what GIT’s chief executive Mo AlGermozi had to say regarding graphene coatings during the Hull coatings for sustainable shipping, decarbonisation and noise reduction in the webinar library.