Tidal Vision, a company turning tossed crab shells into a green chemical, nets $140M in funding

Tidal Vision, a green chemistry company founded by a former Alaska fishing boat captain, has raised $140 million to fund its efforts, CEO and co-founder Craig Kasberg confirmed for GeekWire. The Bellingham, Wash., company uses an environmentally friendly, zero-waste process to turn discarded crab shells into a valuable industrial chemical called chitosan, as well as products made with the ingredient. Chitosan is something of a wonder chemical and can be used in water purification, to preserve produce, to promote plant growth, as a flame retardant in fabrics, and in pharmaceuticals and cosmetics. It offers a safe alternative to toxic chemicals,… Read More

Feb 11, 2025 - 12:01

Tidal Vision, a company turning tossed crab shells into a green chemical, nets $140M in funding

Tidal Vision, a green chemistry company founded by a former Alaska fishing boat captain, has raised $140 million to fund its efforts, CEO and co-founder Craig Kasberg confirmed for GeekWire.

The Bellingham, Wash., company uses an environmentally friendly, zero-waste process to turn discarded crab shells into a valuable industrial chemical called chitosan, as well as products made with the ingredient.

Chitosan is something of a wonder chemical and can be used in water purification, to preserve produce, to promote plant growth, as a flame retardant in fabrics, and in pharmaceuticals and cosmetics. It offers a safe alternative to toxic chemicals, metals, petroleum products and pesticides used in industry.

Kasberg began his career as a commercial fisherman as a teen and ultimately captained his own boat. Concerned about the wasted byproducts in the seafood industry, he ultimately launched the business with Chief Strategy Officer Zach Wilkinson in 2015.

In recent years, the company has been expanding its headcount — now up to 287 — and its product offerings and footprint.

The Tidal Vision team in 2024. (Tidal Vision Photo / Alex Gaynor)

In 2023, Tidal Vision acquired Clear Water Services, an Everett, Wash.-based business providing water cleaning devices and services. The company was an early customer for Tidal Vision’s cleaning chemicals.

In addition to its Bellingham operations, Tidal Vision has a production site in South Carolina and in July announced that it was breaking ground on a new plant in Texas where its Tidal Grow Agriscience division will produce liquid fertilizers. It’s also building new facilities in Ohio and Europe.

The company last year was a finalist in the Sustainable Innovation of the Year category at the GeekWire Awards.

The $140 million Series B round includes roughly half of the $46.7 million in funding that GeekWire reported in May. The remaining dollars disclosed in May reflected the conversion of previously issued notes into equity.

Cambridge Companies SPG led the round. Additional investors included Eni Next (the corporate venture arm of Eni S.p.A), Milliken & Company, KIRKBI Climate, Convent Capital, SWEN Capital Partners’ Blue Ocean Fund, MBX Capital, Oman Investment Authority’s IDO Investments, and others.

“Tidal Vision is the global leader in chitosan extraction, modification, characterization, and commercial applications. These important investments will enable Tidal Vision to continue to apply these crucial scientific breakthrough technologies commercially across a variety of sectors,” said Filipp Chebotarev, chief operating officer and managing partner at Cambridge Companies SPG, in a statement.

Editor’s note: This story was updated on Feb. 5 to add information on facilities being built in Ohio and Europe, investors’ names, and a comment from Filipp Chebotarev.