Claros Technologies, Inc., a Minneapolis, MN-based leader in PFAS analytical and destruction technologies, raised $22M in new funding.
The round was co-led by Ecosystem Integrity Fund and American Century Investments, with participation from Capita3, Children’s Minnesota, Kureha America Inc., Open Door Foundation, F. R. Bigelow Foundation, other corporate investors, several individual investors alongside incumbent investors Groundswell Ventures and the University of Minnesota.
The company intends to use the funds to continue scaling the research, development and market penetration of its UV-photochemical PFAS destruction technologies, its durable anti-viral, anti-bacterial, anti-odor and broad spectrum UVA and UVB bio-based functional materials technologies and its ISO/IEC 17025:2017 analytical laboratory.
Founded from technical research developed at the University of Minnesota, and led by Michelle Bellanca, CEO and co-founder, ClarosTech is harnessing green chemistry and advanced material science to solve the global human health PFAS pollution crises. The company offers a PFAS contamination solution that permanently destroys ALL types of PFAS (long, short and ultrashort chain).
Since its prior financing in 2021, ClarosTech has:
- Scaled its PFAS destruction solution to field deployable units and is working with manufacturers and other stakeholders to provide sustainable and effective solutions to remediate PFAS pollution in wastewater.
- Built an ISO/IEC 17025:2017 analytical laboratory; and
- Commercialized its durable functional material chemistries from bio-based sources, allowing for durable (wash-safe) anti-bacterial, anti-odor, anti-viral and broad spectrum UVA and UVB properties in textiles and other substrates.
PFAS (perfluoroalkyl and polyfluoroalkyl substance or “forever chemicals”) are a family of over 15,000 chemical compounds used in everything from semiconductor manufacturing to the production of clothing, furniture and food packaging. PFAS chemicals are ubiquitous and linked to cancer, thyroid disease, kidney dysfunction, birth defects, autoimmune disease and other serious health problems.
FinSMEs
28/05/2024