BDC Capital’s Climate Tech Fund led the round, which the company (“GIT” for short) said will help expand production of its graphene-based marine coatings and sell to new customers. Its paint helps ships slide through water more smoothly, GIT said, improving fuel efficiency, reducing carbon emissions and dampening noise that can harm marine life. (The Logic)

Talking point: Freighters are a relatively inexpensive, low-carbon way of moving goods but they burn vast amounts of fuel in absolute terms, so even small efficiency improvements can pay off. Another participant in the round is Stolt Ventures, whose affiliated Stolt-Nielsen shipping line inked a deal last week to put GIT coating on 25 tanker ships’ propellers. A test on one ship, subsequently expanded to five, found the coating cut fuel use and noise. Spun out of Dalhousie University in 2017, GIT also has a contract with Transport Canada to try to quiet small fishing boats.