Clean Filtration Technologies closes $3.5m to bring next generation water treatment to market

20 May 2010

US water treatment developer Clean Filtration Technologies (CFT) recently closed a $3.5m series B financing round, led by The Dow Chemical Company with a $3m cash investment, to accelerate the commercialisation of its next generation water treatment technology.

Global new business development director for Dow Water & Process Solutions, Dianne J Mccord Maughon, and investment manager in Dow Venture Capital, Christopher Jones, will now serve on CFT’s board of directors.

Dow Water & Process Solutions has also signed a joint development agreement with CFT.

‘We are excited for Dow’s continued support of the CFT Turboclone filter through its second round of financing and the JDA with DWPS. This technology has the potential to make a major and sustainable impact on the industry,’ said John Mallard, CEO of Clean Filtration Technologies.

Mallard said CFT is working with Dow to accelerate the commercial introduction of its new technology.

CFT’s patented Turboclone filtration device is designed to efficiently reduce suspended solids from difficult-to-filter water to produce a consistent feed stream suitable for wastewater reuse, potable water processing, industrial processing and agricultural irrigation.

It combines both hydroclone and cross-flow filtration technologies to create an efficient treatment solution for a variety of feed waters, such as those from many surface or water reuse sources, the company said.

Monty Bayer, global business director, Dow Ventures & Business Development, Licensing, and Venture Capital, said, ‘This investment is strategically aligned to enable and accelerate Dow’s new business growth in the water industry.’

Through its venture capital group, The Dow Chemical Company invests in start-up companies in the US, Europe and Asia supporting its portfolio with capital, technology and a global network of potential development partners. With offices globally, its parent company Dow had annual sales of $45bn in 2009.

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Tags: water treatment

This story was published on Thursday, May 20th, 2010 at 10:00 am and is filed under North America, deals, water. You can follow any responses to article entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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