December 4, 2025
FOR IMMEDIATE RELEASE
(HALIFAX, NS) – Today, Canada’s Ocean Supercluster announced five new ocean innovation projects valued at $34.5 million, including the $15.9 million Bioenergy Carbon Capture Marine Storage Project led by pHathom.
This project pioneers an ocean-based bioenergy carbon capture and storage (BECCOS) solution that benefits both ocean and forest health, while creating significant revenue potential through carbon dioxide removal credits. By capturing carbon dioxide from bioenergy plants, converting it into dissolved bicarbonate, and storing it safely in the ocean, the project will advance understanding of how bicarbonate-based approaches may influence coastal pH stability and support Canada’s climate competitiveness objectives.
The project is led by Halifax, NS-based pHathom, in partnership with Cocagne, NB-based ACFOR. With a total project value of $15.9 million, Canada’s Ocean Supercluster is investing $5.8 million, with the balance of funding coming from project partners.
This project has the potential to position Canada as an early leader in the nascent marine carbon dioxide removal (mCDR) industry by demonstrating the commercial viability of capturing carbon dioxide from bioenergy plants. It also supports the development of the scientific and regulatory groundwork needed for future ocean carbon projects and informs long-term planning for responsible deployment.
Through Ambition 2035 and together with Canada’s ocean community, we are bold in our ambition to grow Canada’s ocean economy 5X to $220 billion by 2035. Continued investment in the accelerated development and commercialization of globally relevant, made-in-Canada ocean solutions will help us realize this ambition. Read more about recommendations to help achieve this transformational growth opportunity outlined in Charting the Course to 5X Growth in Canada’s Ocean Economy and the projected benefits to Canada here.
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Media Contacts
Nancy Andrews
Canada’s Ocean Supercluster
nancy.andrews@oceansupercluster.ca
About Canada’s Ocean Supercluster
Canada’s Ocean Supercluster accelerates the development and commercialization of made-in-Canada ocean solutions in energy transition, food security, future of transport, and climate change while also growing more companies, creating more jobs, and attracting ocean talent. As Canada’s national ocean cluster, the OSC is a convenor of members, partners, and networks and a catalyst for transformative growth that helps build the robust ecosystem needed to help realize Ambition 2035 – a 5X growth potential in ocean in Canada by 2035. To date, the OSC has approved about 150 projects valued at more than $500 million, which will deliver more than 300 new made-in-Canada ocean products, processes, and services to sell to the world. Every dollar invested in Ocean Supercluster projects generates more than five times its value in GDP contribution, with the following economic benefits to Canada as of March 2025:
- $1.7 billion in total economic output
- $1 billion in GDP contribution
- Nearly $748 million in total labour income
- Close to 10,000 jobs created
- $286 million in total tax revenues generated
- $295 million in follow-on investment raised
Quotes
“The innovation and collaboration fostered by Canada’s Ocean Supercluster demonstrate our government’s commitment to building a stronger and more resilient ocean economy. These projects in clean energy, digital and AI adoption, and marine sustainability will drive economic opportunities across the country and help strengthen Canada’s position as a world leader in the blue economy.” – The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
“Canada’s new government is driving economic growth through ocean innovation. Clean technologies, advanced marine solutions, and cutting-edge research are creating opportunities that strengthen coastal communities and position Canada as a global leader in the sustainable ocean economy.” – The Honourable Sean Fraser, Minister of Justice and Attorney General of Canada, Minister responsible for the Atlantic Canada Opportunities Agency, and Member of Parliament for Central Nova
“By bringing together ocean innovation and carbon removal technologies, pHathom is supporting Canada’s Climate Competitiveness Strategy and the priorities set out by Prime Minister Carney by creating new economic opportunities, strengthening clean energy infrastructure, and positioning Canada as a leader in the emerging marine carbon dioxide removal industry.” – Kendra MacDonald, CEO, Canada’s Ocean Supercluster