RPM Sustainable Technologies, a Guilford, Conn.-based chemical process development and equipment marketing company for the biofuels and biochemicals industries, raised a seed funding.
Backers included Connecticut Innovation, which committed $150k, the Clean Energy Finance and Investment Authority and ProFlow (an RPMST’s manufacturing partner), company management and private investors.
The company intends to use the funds for additional pilot testing of its system.
Led by Dr. Fred L. Robson, CEO, Dr. Richard Parnas, CTO, and Richard Madrak, COO, RPMST has developed a patented continuous flow reactor to produce ASTM/EN-quality biodiesel as well as a proprietary preprocessor, which can use feedstocks ranging in quality from virgin vegetable oils to algae oil to fats, oils and greases (FOG) from wastewater treatment facilities. The company has demonstrated that its technology can extract oil, sugar and protein from algae and convert these substances to diesel and butanol fuels, as well as high-value chemicals. Two of its biodiesel production systems are currently operating at the University of Connecticut.
FinSMEs
22/03/2013