Stolt Nielsen has backed graphene-based coatings specialist Graphite Innovations & Technology (GIT) in a CAD 10m ($7.5m) fundraising round.

The move by the Oslo-listed chemical tanker giant comes just days after it agreed to deploy the Canadian-based firm’s technology on 25 of its ships.

The series A funding round was led by BDC Capital’s Climate Tech Fund, in collaboration with a global syndicate of climate, ocean and maritime investors including France-based Seventure Partners’ Blue Forward Fund, Norway’s Farvatn Ventures, Canadian companies Melancthon Capital and Invest Nova Scotia and other new and existing investors.