Industrial wastewater treatment developer closes $5.6M in Series-A funding

Sponsored by


VANCOUVER, BC, Feb. 12, 2014 -- A $5.6-million Series-A financing round that paved the way for new California-based investor, The Roda Group, to join existing investors, Chrysalix Energy Venture Capital and BDC Venture Capital, was recently closed.

Axine Water Technologies, developers of a low-cost, chemical-free solution for treating high concentrations of problematic, toxic organics, ammonia, and other pollutants in industrial wastewater, announced the closure today.

Over the past 12 months, Axine has worked closely with industry leaders in oil & gas, refining, waste management, and chemical processing to verify and benchmark the capability of its technology in treating the most difficult wastewaters at a low cost.

Dealing with ammonia? Try these resources:

Industrial wastewater treatment developer closes $5.6M in Series-A funding

Lagoon Logic: Elimination of Biosolids Build-up through Biodredging

MBBR system to be installed at Chicago WTP; first of its kind in IL state

Control system at Grand Rapids WWTP helps save residents money, energy

Fertilizer reused from sewage with UK's first nutrient-recovery technology

Deammonification Process Brings Carbon, Energy, and Sludge Reductions

Wastewater treatment process commended for cuts in energy use, chemical costs

Accordingly, this enables customers to reduce chronic production bottlenecks, lower operating costs, avoid regulatory penalties, and enable wastewater to be treated and reused on-site to offset the rising cost of freshwater.

Axine's new technology addressses significant challenges throughout the oil and gas industry, from oil sands SAGD to refinery effluent, while simultaneously preserving the environment, said Jean-Michel Gires, former president and CEO of Total E&P Canada and now venture partner with Chrysalix EVC, in a recent press release.

Marty Reed, new investor and principal at The Roda Group, added, "Waste treatment and water reuse are massive global problems and top investment priorities for Roda. Axine represents the kind of breakthrough technology we're looking for as it stands to solve significant issues across a wide range of water-intensive industries."

Axine's Series-A round marks the largest water and wastewater Series-A financing in North America in the past year and one of the largest internationally in the last two years.

See also: "Axine Water receives funding from Canadian government for water technology development"

About Axine Water Technologies

Axine Water Technologies has developed a low-cost, chemical-free solution for treating high concentrations of problematic toxic organics, ammonia, and other pollutants in industrial wastewater solving a multi-billion dollar problem for large companies in a wide range of industries. For more information, visit www.axinewater.com.

###

Sponsored by

TODAY'S HEADLINES

EPA announces major modifications to ongoing VT landfill Superfund site remedy

EPA has proposed major recommended modifications to the ongoing remedy of the BFI Rockingham Landfill Superfund Site in Rockingham, Vt., that include an increased timeframe to cleanup groundwater, additional groundwater restrictions, and revised arsenic and lead cleanup levels.

Chevron certified as first company to complete rigorous CSSD evaluation process

Chevron was certified by the Center for Sustainable Shale Development as the first company to successfully complete its rigorous evaluation and verification process.

IEC grants final unanimous approval for ISA100 wireless standard

The International Society of Automation announced that ANSI/ISA-100.11a-2011, "Wireless Systems for Industrial Automation: Process Control and Related Applications," has been unanimously approved by the International Electrotechnical Commission as an international standard.

Eastern Singapore to receive second major water supply plant

PUB has selected BESIN-UEN Consortium as the Preferred Bidder for the second NEWater Plant located in the region of Changi, Singapore. The facility is expected to add another 50 million gallons per day to the nation's water supply.

FOLLOW US ON SOCIAL MEDIA