Veralto announced an investment of approximately $15 million to establish a minority interest in Axine Water Technologies.
The strategic collaboration with Axine builds upon Veralto’s portfolio of water solutions for customers. Veralto’s minority position in Axine includes a commercial agreement in North America with the company’s Trojan Technologies business aimed at increasing Axine’s customer reach, expanding its presence in municipal and industrial markets and scaling its technology.
“Our water quality operating companies have a proven track record of developing and commercializing technologies that help customers detect and destroy emerging contaminants,” said Jennifer L. Honeycutt, president and CEO of Veralto, in a press release. “A key part of our growth strategy in water quality is developing fit-for-purpose solutions to help our customers meet complex challenges. We believe Axine’s electrochemical oxidation technology provides a promising solution for difficult-to-treat organic contaminants, and our strategic partnership is aligned with our commitment to helping deliver clean water.”
Axine is a provider of electrochemical oxidation technology for industrial wastewater treatment. Axine uses the technology to destroy contaminants in water, including the destruction of long- and short-chain per- and polyfluoroalkyl substances (PFAS). The company has over 150,000 hours of full-scale commercial operating experience since 2017.
“We have a history of treating wastewater, allowing our clients to focus on their valuable core products,” said Mark Ralph, CEO of Axine, in a press release. “I am excited about Veralto’s investment and partnership, which I believe will help position Axine to grow in municipal and industrial markets and deliver greater value to customers.”
