#USA #Minneapolis #Claros Technologies #Daikin America #PFAS Destruction

Claros Technologies Secures $10 Million in Financing for PFAS Solutions

In a bid to ramp up its operations globally, Claros Technologies, Inc. has announced a substantial $10 million in convertible note financing. As a frontrunner in advanced PFAS destruction and analytical technologies, the company aims to accelerate the deployment of its state-of-the-art ClarosTechUV™ PFAS Destruction System. This funding arrives at a crucial moment when global regulations concerning per- and polyfluoroalkyl substances (PFAS) are tightening, raising compliance pressures and leading to increased scrutiny in manufacturing sectors using these chemicals.

The Rising Demand for PFAS Solutions

The recent pilot conducted with Daikin America, Inc. was a significant success for Claros. This pilot demonstrated the system's ability to achieve an impressive 99.99% destruction of targeted PFAS in high-flow wastewater, setting a new standard for affordable and effective PFAS destruction. As companies are pressured to adopt sustainable practices, the demand for Claros' novel solutions has surged across North America, Europe, and Asia. The need for permanent, cost-effective technologies that can proficiently eliminate ultra-short chain PFAS is driving this increase.

Claros’ financing is backed by a diverse group of investors, including returning supporters such as Capita3, the University of Minnesota, and American Century Private Investments, complemented by new strategic investors. This diverse coalition not only strengthens Claros but also reinforces its commitment towards environmental sustainability and market leadership.

Leadership’s Insights

Michelle Bellanca, the CEO and Co-Founder of Claros, highlighted the substantial momentum the company is experiencing. “Our recent pilot with Daikin not only marks a pivotal moment for industrial operations but also validates our credibility as a reliable solution provider in the PFAS destruction realm,” stated Bellanca. She expressed her enthusiasm about the impact the new capital would have on their operations, allowing Claros to scale rapidly to meet the urgent demands of the market.

Steve Sefton, Chairman of Clearwater Equity, a new investor, shared his perspective on the pressing need for Claros' solutions, stating, “Claros is breaking ground on one of the most urgent environmental issues today. The innovative technology they offer can help industry stakeholders remain compliant with current regulations while anticipating future standards.” This insight emphasizes the company's role in shaping a more sustainable industrial landscape and addressing significant environmental challenges.

Kathy Tune, Managing Partner at Capita3, reiterated her confidence in Claros’ mission and the essential role it plays in advancing sustainable practices within industrial processes. She envisions that the narrative of how industry addressed the PFAS crisis will mark a clear before-and-after moment in environmental history, highlighting Claros as a pivotal player.

Future Endeavors

The recent funding raises Claros’ total capital to $39 million since its inception, facilitating its ambitious plan to scale up the ClarosTechUV™ PFAS Destruction System. The funding will also support the expansion of global pilot projects and commercial operations in key markets.

Founded in 2018 and based in Minneapolis, Minnesota, Claros Technologies dedicates itself to mitigating PFAS. Their ClarosTech™ division focuses on offering scalable, sustainable solutions that meet the growing industry demands for PFAS destruction, while ClarosLabs™ provides accredited analytical services for PFAS detection and exposure assessment. The partnership with the University of Minnesota illustrates the transformative power of academic research in delivering practical, environmentally conscious innovations.

Claros Technologies is dedicated to a future free from PFAS pollution, asserting a significant presence in the movement towards environmental cleanliness and responsibility. Their goal remains clear: to eradicate PFAS from our environments once and for all.