Industrial wastewater treatment startup Membrion is raising a new round of cash from investors. In a filing with the U.S. Securities and Exchange Commission, the Seattle company reports $11.3 million of investment.
Membrion founder and CEO Greg Newbloom declined to comment or confirm the amount raised.
The company offers modular treatment units that use electrical fields and ceramic desalinization membranes to filter salt and heavy metals such as lead, mercury, arsenic and copper out of contaminated wastewater. The membranes are produced using a silica gel that’s something like the material inside the tiny desiccant packets in a box of new shoes.
Newbloom holds multiple patents and spun the company out of the University of Washington in 2016.
Earlier this year he posted on LinkedIn celebrating Membrion’s ninth birthday.
“This last year was the best yet by far — exploding customer base, countless awards, and strong execution towards our goals,” Newbloom wrote. “I have somehow found myself surrounded by people I love working with — customers, partners, investors, advisors, and team members.”
The startup closed a $12.5 million Series B round in August 2023. Membrion’s total funding at that time was $23 million. Past investors include Samsung Venture Capital, Lam Capital and PureTerra Ventures.
The company’s main customers are U.S.-based firms in the microelectronics and semiconductor, automotive, food and beverage, and oil and gas sectors.
Membrion’s technology allows businesses to treat and recycle large quantities of dirty water onsite, avoiding the costs and environmental impacts of trucking it away to be cleaned. It can also be used to recover valuable minerals from the water.
Last year the company ran a pilot project with Colgate-Palmolive in which it recovered 93% of the company’s wastewater using a reverse osmosis process.
The startup’s website lists 23 employees.
Read the full article here
