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GIT Raises $10.2M

The Series A deal was led by BDC’s ClimateTech Fund and included British maritime giant Stolt-Nielsen.

Halifax-based marine coatings maker Graphite Innovations & Technology, or GIT, has closed a $10.2 million Series A funding round led by BDC Capital’s ClimateTech Fund as it looks to scale up its commercialization activities.

Also investing is U.K.-based Stolt Ventures, the investment arm of Stolt-Nielsen, which was founded in 1959 and now operates more than 150 tanker ships, as well as fish farms and shipping terminals. GIT earlier this month inked a two-year deal to apply its new coating for ship propellers to 25 vessels owned by the London maritime giant.

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