Clean Filtration Technologies Inc., a Redwood City, Calif.-based developer of water treatment technology, has raised $3.5 million in Series B funding led by Dow Venture Capital.
Efficient treatments for difficult-to-filter waters are one step closer now that Clean Filtration Technologies, Inc. (CFT) recently closed its Series B financing of $3.5 million led by The Dow Chemical Company with a $3 million cash investment through its Venture Capital group.
Dianne J. Mccord Maughon, New Business Development Director globally for Dow Water & Process Solutions, and Christopher Jones, Dow Investment Manager in Dow Venture Capital, will serve on CFT’s Board of Directors. Dow Water & Process Solutions (DW&PS) business has also signed a joint development agreement with CFT.
CFT is the company behind the CFT Turboclone™ filtration device, a patented water filter designed to efficiently reduce total suspended solids (TSS) from difficult-to-filter water.
Reducing this particulate matter produces a consistent high quality feed stream that is suitable for numerous applications such as wastewater reuse, potable water processing, industrial processing and agricultural irrigation. The CFT Turboclone™ filtration device 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.
“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, Clean Filtration Technologies’ CEO. “We’re looking forward to working with Dow to accelerate the commercial introduction of this exciting new technology.”
“We’re excited to help support CFT in the finance and development of this technology. Sustainability is one Dow’s core values and this technology offers the potential to further support ‘green operations’ across the industry,” said Monty Bayer, global business director, Dow Ventures & Business Development, Licensing, and Venture Capital. “This investment is strategically aligned to enable and accelerate Dow’s new business growth in the water industry.”
About Clean Filtration Technologies, Inc. (CFT)
Clean Filtration Technologies, Inc. engineers efficient, next generation, water treatment technology. The CFT Turboclone™ hydroclone system is a high capacity filtration device for drinking, waste and process water applications. The CFT Turboclone™ hydroclone system uses a non-consumable, proprietary metal membrane. The membrane is self cleaning and virtually maintenance free. The CFT Turboclone™ hydroclone system can process high turbidity water and reduce suspended solids without fouling or plugging. When used as a pre-filter, the CFT Turboclone™ hydroclone system can allow other treatment technologies to operate with peak efficiency and can reduce maintenance and operation expenses. (www.cleanfiltration.com) CFT Turboclone™ is a trademark of Clean Filtration Technologies, Inc.
About Dow Venture Capital
The Dow Chemical Company working through its Venture Capital group (www.dow.com/venture) invests in promising start-up companies in North America, Europe, and Asia supporting its portfolio with capital, technology, and a global network of potential development partners. Dow Venture Capital is active in sustaining these companies throughout their early critical years, from seed to later stage investment. Dow Venture Capital professionals are located in Midland, Michigan, Zurich, Switzerland and Gotemba, Japan.
About Dow Water & Process Solutions
Dow Water & Process Solutions has a 50 year legacy of providing innovative water and process solutions to both communities and industries alike. A differentiated business unit of The Dow Chemical Company, Dow Water & Process Solutions offers a broad portfolio of ion exchange resins, reverse osmosis membranes, ultrafiltration membranes and electrodeionization products, with strong positions in a number of major application areas, including industrial and municipal water, pharmaceuticals, power, residential water and wastewater and water reuse. More information about Dow Water & Process Solutions can be found at www.dowwaterandprocess.com.
Dow combines the power of science and technology with the “Human Element” to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world’s most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow’s diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2009, Dow had annual sales of $45 billion and employed approximately 52,000 people worldwide. The Company’s more than 5,000 products are manufactured at 214 sites in 37 countries across the globe. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
®TM Trademark of The Dow Chemical Company