Claros Technologies Raises $10 Million to Expand PFAS Destruction Technology Deployment

Claros Technologies Raises $10 Million to Enhance PFAS Destruction Efforts

Claros Technologies, Inc., renowned for its pioneering work in high-flow PFAS destruction, has made headlines by securing $10 million through convertible note financing. This critical funding will facilitate the swift and effective deployment of its ClarosTechUV™ PFAS Destruction System, aiming to address pressing environmental concerns related to PFAS in various industrial processes.

Amid escalating global regulations that demand compliance from manufacturers over their PFAS usage, this financing comes as a timely boost. With increasing scrutiny, businesses are under pressure to integrate affordable, high-flow technologies capable of completely destroying ultra-short chain PFAS. Claros Technologies has seen a surge in demand for its solutions across North America, Europe, and Asia, as industries adapt to these regulatory shifts.

The convertible note was made possible thanks to a diverse group of investors, including ongoing support from previous backers. Notable participants include Capita3, the University of Minnesota, American Century Private Investments, and the F. R. Bigelow Foundation, alongside various new strategic investors. This blend of stakeholders signifies a robust commitment to propelling Claros' mission and enhancing its market leadership.

Michelle Bellanca, the CEO and Co-Founder of Claros, highlighted the recent advancements the company has achieved, particularly through a successful pilot partnership with Daikin America, Inc. During this pilot, the ClarosTechUV™ system demonstrated an impressive 99.99% destruction rate of PFAS in high-flow wastewater. Bellanca referred to this achievement as a watershed moment, setting new standards for scalable, economically feasible PFAS destruction. As regulatory pressures increase, the need for reliable solutions becomes even more critical, and the recent pilot program serves as a clear validation of Claros' capabilities.

"Our pilot with Daikin was a significant milestone for industrial operations, proving that we can destroy all PFAS species efficiently and affordably," stated Bellanca. The growing interest in Claros’ technology reflects the urgency felt by industries to comply with environmental regulations and seek sustainable solutions for PFAS elimination.

Steve Sefton, the Chairman of Clearwater Equity, echoed Bellanca’s sentiments, emphasizing the urgency of tackling environmental challenges posed by PFAS. He remarked that while PFAS compounds might continue to be integral to many industrial processes, Claros presents a leading solution that effectively addresses PFAS waste streams right at the source. This strategic approach not only meets current regulatory requirements but also positions companies to exceed future environmental standards.

Adding to this perspective, Kathy Tune, Managing Partner at Capita3, expressed her determination in supporting Claros from its inception. She predicts that future narratives about industrial efforts to mitigate PFAS will distinctly mark the timeline, recognizing the transformative impact of Claros. Her remarks highlight how the solutions developed by Claros align with tightening regulations and provide economic incentives for industries striving to minimize their environmental footprint.

The recent funding brings Claros' total capital raised since its founding in 2018 to an impressive $39 million, which includes grants and investments from institutional backers. The newly acquired funds will enhance the scaling and commercialization of the ClarosTechUV™ system, expanding pilot projects and operations globally across North America, Europe, and Asia.

About Claros Technologies

Founded in 2018 and headquartered in Minneapolis, Claros Technologies has established itself as a global leader in PFAS mitigation. The company operates primarily through two divisions: ClarosTech™, focusing on the permanent destruction of PFAS with its field-ready solutions, and ClarosLabs™, an accredited analytical division responsible for PFAS detection and evaluation. With strong ties to the University of Minnesota, Claros is committed to driving innovations that contribute to environmental sustainability, underlining Minnesota's role in fostering cutting-edge technology solutions.

In conclusion, Claros Technologies is on a resolute mission to eradicate PFAS from the environment, fundamentally shifting the landscape of industrial practices toward more sustainable methodologies. The company’s latest developments not only bolster its operational capabilities but also enhance its commitment to environmental stewardship, solidifying its role as a leader in this crucial fight against PFAS pollution.