MAR Systems meets million-dollar Series-A funding goal
MAR Systems LLC announced that it has met its Series-A funding goal of $1 million after receiving support from private investors and philanthropic organizations during the past year for its processes of removing hazardous contaminants from industrial, drinking and municipal water streams...
SOLON, OH, Dec. 12, 2008 -- MAR Systems LLC announced that it has met its Series-A funding goal of $1 million after receiving support from private investors and philanthropic organizations during the past year for its processes of removing hazardous contaminants from industrial, drinking and municipal water streams.
"The overwhelming support from the business and philanthropic organizations has allowed MAR Systems to continue its mission of developing a faster, cheaper and greener water treatment solution," said Tony Kuhel, chief operating office, MAR Systems. "During the past year, we have increased our staff, initiated pilot plants for industries that want to reduce their impact on the environment and continued research and development on our patented processes."
"Our decision to invest in MAR Systems was based on the performance of their water treatment media. The fact that MAR has developed patented processes that work faster and better than anything else in the market made the decision that much easier," said investor Mark Williams, managing member, Lazy River LLC. "To be a part of a solution that makes our most precious resource cleaner and safer is very exciting."
The presence of metal contaminants, such as arsenic and mercury, from natural and man-made sources is increasing quickly and globally, and the effects of these hazardous materials in water streams has serious consequences for both the human race and the environment.
"The fact that MAR Systems' technology is not just focused on clean water here in the United States, but is patent pending in numerous countries around the world, will provide tremendous international growth opportunities for the Company," Williams added. "Contaminated water affects more than 100 million people worldwide and MAR's advanced technology offers a global solution. Lazy River didn't just look at this from the financial perspective. We also strongly considered the humanitarian impact."
Looking forward, MAR Systems will continue to execute pilot programs, secure product, and continue research and development through a post-doc grant in partnership with Case Western Reserve University School of Engineering.
MAR Systems LLC is a privately owned, Ohio-based company that has developed patented, proprietary processes that remove arsenic, mercury and other heavy metals from industrial water streams through its Sorbster™ media.