PowerTech Water to Accelerate Commercialization of Breakthrough CapCo™ Products for Removal of Heavy Metals in Battery Manufacturing
October 3, 2019
PowerTech Water, a developer of cleantech water treatment technologies for lead-acid battery manufacturers, has received a $1.5 million Series A round of funding to accelerate the commercialization of its CapCo™ Capacitive Coagulation modules and systems.
PowerTech Water develops and markets water treatment products that remove heavy metals from water using its patent-pending CapCo carbon electrode technology. CapCo actively attracts, immobilizes and filters metals with over 99% selectivity. It provides a simplified yet powerful solution that requires no chemicals and generates no toxic sludge by-products while lowering OpEx by up to 90 percent and reducing maintenance requirements.
CapCo systems are being installed in North America by lead-acid battery manufacturers, as well as aerospace manufacturers and those in the automotive industry to address their heavy metal effluent problems.
“CapCo is a disruptive technology that is reshaping how the industrial sector manages wastewater – in particular, the removal of harmful heavy metals from the wastewater stream. The marketplace has embraced our solution, which provides both environmental benefits such as the elimination of toxic sludge, as well as numerous economic benefits that include shrinking the footprint of the water treatment system, reducing labor requirements, and removing the need for chemicals in the treatment process. We are delighted with the response from our customers and the support from our investors, and look forward to continued strong growth,” said Cameron Lippert, Chief Executive Officer of PowerTech Water.
Chicago-based Mazarine Ventures, an early-stage venture capital and advisory firm focused on high-growth technology companies addressing challenges in water and wastewater, joins lead investor Bluegrass Angels as well as Harbor Street Ventures, Commonwealth Seed Capital and individual angel investors in this funding round.
“Mazarine Ventures tracked the progress of PowerTech Water for quite some time before investing. Whilst we have always viewed the technology itself as impressive, what triggered our investment was their business strategy, which is built on a good understanding of customer needs and strong business acumen,” noted Anders Hallsby, Partner, Mazarine Ventures.
“We’ve invested in PowerTech Water’s team from the very beginning and are excited to see them take this next step in the commercialization of their carbon electrode technology. We look forward to them scaling the company to meet the demands of an increasing customer base,” said Chris Young, Fund Manager, Bluegrass Angels Fund IV.
About PowerTech Water
A cleantech company, PowerTech Water harnesses the power of advanced carbon electrode technology to go beyond traditional water treatment solutions and deliver clean water affordably and effectively with an environmentally responsible, cost-efficient and easy to use platform. Its flagship technology, CapCo™ Capacitive Coagulation, is an electrochemical filter that removes metals from water, using patent-pending carbon electrode technology to actively attract, immobilize and filter metals with 99% selectivity, no sludge production and up to 90% reduction in OpEx.
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