PowerTech Water, a US developer of cleantech water treatment technologies, has secured a US$1.5 million Series A round of funding to accelerate the commercialization of its CapCo™ Capacitive Coagulation modules and systems.
Mazarine Ventures, a Chicago-based early-stage venture capital and advisory firm, joins lead investor Bluegrass Angels as well as Harbor Street Ventures, Commonwealth Seed Capital and individual angel investors in the funding round.
Lexington, Kentucky-based 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 99% selectivity. The company says 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% and reducing maintenance requirements.
“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,” said Cameron Lippert, CEO of PowerTech Water. “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 labour requirements, and removing the need for chemicals in the treatment process.”
CapCo systems are being installed in North America by lead-acid battery manufacturers as well as aerospace manufacturers and the automotive industry to address their heavy metal effluent problems.