Axine Water Technologies, a Vancouver-based developer of industrial wastewater treatment methods, has secured $5.6 million in venture funding after closing a series A financing round.
The West Coast company is behind a low-cost, chemical-free solution that treats toxic organics, ammonia and other pollutants.
California-based The Roda Group now joins current investors, Chrysalix Energy Venture Capital and BDC Venture Capital, after the closing of the financing round.
“This important infusion of capital ensures our continued rapid progress towards the commercialization of our ‘best-in-breed’ wastewater treatment technology,” Axine president and CEO Jonathan Rhone said in a statement.
His company offers technology that treats wastewater through an electrolytic process at a cost up to five times lower than typical chemical or biological solutions.
