Strategic mix of investors is driven by Claros’ next growth phase after a groundbreaking pilot project with Daikin America, Inc.
Claros Technologies, Inc. (“Claros”), the industry-leading companies for high-flow pfas destruction and analysis technologies, announced today that it has secured a convertible bond finance of $ 10 million in order to accelerate the commercial use of its Clarostechuv ™ PFAS Destruction System. Funding takes place at a time when the global regulations are tightened and the requirements for compliance with the regulations increase, criminal persecution and civil law proceedings are pending, since manufacturers are faced with increasing surveillance with regard to the use of PFAs in their companies. In view of the increasing pressure to use permanent, inexpensive, practical destruction technologies with high flow, which can destroy the ultra -rooted PFAs, the demand for Claros’ solutions in North America, Europe and Asia has increased significantly.
The change bond was supported by a broad mix of investors, including a new participation of many of Claros’ previous donors – including Capita3, the University of Minnesota, American Century Private Investments and the FR Bigelow Foundation – as well as several new strategic investors. The result is a strong, wide coalition of stakeholders who are committed to promoting the mission and expanding the market leadership of Claros.
Michelle Bellanca, CEO and co -founder of Claros, underlined the importance of the recent dynamic development of the company and the capital secured to support its support:
“Our most recent pilot project with Daikin America, Inc., in which our Clarostechuv ™ PfAS destruction system reached a 99.99 percent destruction of the targeted PFAs in sewage with high flow, was a decisive moment for industry and an important milestone for Claros. This pilot project not only set new standards for the possibilities of scaling, In terms of cost-effective and permanent destruction, but also confirmed our ability to destroy all PFAS types (short and ultra-ores) on a large scale. The convertible bond is not only a confidence of trust for our investors, but also a crucial factor for our ability to scale quickly and to meet the current urgency of the moment. “
Steve Sefton, Chairman by Clearwater Equity, one of the new investors as part of the convertible bond, explains:
“It cannot be denied that Claros plays a pioneering role in coping with one of the most urgent ecological challenges of our time. Pfas will remain part of many important industrial processes for the foreseeable future, but there is no reason why the waste streams that arise during their production and use should continue to come into the environment. Claros offers a first -class solution that is eliminated – and Scalable, cost -efficient way that meets today’s legal requirements and helps industry to be one step ahead of the environmental standards of tomorrow. “
Kathy Tune, Managing Partner at Capita3, adds:
“We believed in Claros right from the start, and this recent financing only underlines this conviction. In a few years, when we look back on how industry has managed to keep PFAs away from the environment, there will be a clear turning point: the time after Claros. Use that is in line with the strict regulations in all countries and brings significant advantages to the economy and the environment. “
With the convertible bond with a volume of $ 10 million, Claros has received a total of $ 39 million in capital since its foundation, including earlier grants, early phase financing and institutional investments. The funds support the further expansion of the Clarostechuv ™ PFAS Destruction System, the expansion of the global pilot and installation programs and the establishment of commercial operation in North America, Europe and Asia.
Information on Claros Technologies The company, which was founded in 2018 in 2018, based in Minneapolis, Minnesota (USA), is a leading global provider in the field of PFAS reduction with two core business areas. The Clarostech ™ division focuses exclusively on the permanent destruction of PFAs and offers affordable, scalable and practical systems that eliminate long, short, short and ultra-root-chain connections with efficiency of 99.99 %. Claroslabs ™, which accredited analysis business area according to ISO/IEC 17025: 2017, is a leading commercial laboratory that specializes exclusively in the proof, quantification and exposure evaluation of PFAs. Claros was originally founded at the University of Minnesota and is proud to be at home in Minnesota. The ongoing partnership between Claros and the University of Minnesota shows how academic research can be converted into practical environmental innovations – and makes Minnesota a pioneer for sustainable technologies. Claros has set itself the task of removing PFAs from the environment. Claros destroys Pfas – forever.