SEATTLE--(BUSINESS WIRE)--Membrion, a ceramic desalination membrane manufacturer that enables recovery of up to 98% of water in harsh environments, announced a $7M Series B funding round led by PureTerra Ventures, with participation from Safar Partners, GiantLeap Capital, Freeflow, and existing investors. Nic Pannekeet, managing partner of PureTerra Ventures, and Himanshu Sekhar, co-founder and managing partner of GiantLeap Capital, will join Membrion’s Board of Directors.
Membrion was founded in 2016 specifically to address the challenges in industrial wastewater where the only method of dealing with these hard-to-treat discharges was trucking. Membrion CeramIX® desalination membranes offer a cost-effective on-site option for removal of problematic metals, minerals, and salts, and help industry to achieve its zero discharge aspirations.
“It’s mind boggling to me that we still pump wastewater onto trucks and drive it somewhere else to be treated. We're seeing pilot projects convert to full commercial installations, which makes the more sustainable option, treating water on-site, an economically attractive reality. It’s exciting,” Membrion CEO and co-founder Greg Newbloom said in a statement. “This Series B investment helps to solidify our vision of phasing out inefficient legacy water treatment processes. We are grateful to all our customers and investors for their belief in and support of Membrion.”
“Membrion brings to the market a membrane technology like no other we have seen, and we have seen a lot,” said Nic Pannekeet, a partner at PureTerra. “Greg and his talented team have put a twist on the traditional EDR build by the inclusion of ceramic which opens a much wider field of application. We couldn’t be more excited to add Membrion to our portfolio and we look forward to helping this unique technology reach its potential.”
“At GiantLeap, we partner with companies with platform technologies within critical industries where we can meaningfully advance ESG. Membrion brings an elegant solution for critical water infrastructure with diverse applicability across a number of sectors. Greg is an exceptional leader and we are looking forward to actively engaging with him on our value creation playbooks to catalyze the next stage of Membrion's growth,” GiantLeap’s managing partner, Himanshu Sekhar, further added.
This round of funding will be allocated to significantly augmenting manufacturing capacity to meet current and robust future customer demand, expansion of the existing team with key commercial and operations specialists and additions to the IP portfolio family.
Membrion manufactures ceramic desalination membranes that can recover up to 98% of water in the harshest conditions. Membrion’s flexible, ceramic ion exchange membranes yield endless possibilities for water recovery, allowing manufacturers to recycle water at previously inaccessible pH ranges and with challenging trace chemicals. The membranes that Membrion creates are low fouling, require less cleaning, are oxidizer resistant, have ultra-low pH stability, and are economical. For more information, visit membrion.com.
About Pure Terra Ventures
An impact growth fund with a specialization in water technologies, PureTerra invests in early-stage companies that are poised to make a positive impact on the environment at a global level. For more information, visit www.pureterra.com "This operation benefits from support from the European Union under the InvestEU Fund, from the Pan-European Guarantee Fund (EGF) (implemented by the European Investment Fund as part of EIB Group with the financial support of the participating Member States), and from the Dutch Future Fund, with the financial support of Invest-NL."
About GiantLeap Capital
GiantLeap Capital is a recently launched structured growth equity platform. GiantLeap Capital is focused on leveraging emerging technologies to rapidly scale companies providing mission-critical products and services. The firm takes a long-term, thematic approach to provide value-oriented, flexible capital focused on private markets and opportunistic special situations. For more information, visit www.giantleapcapital.com.