Puralytics Completes $4M In Series A Funding
Puralytics, a leading provider of advanced water purification technology, announced recently the company has completed its $4M Series A Preferred Stock Round. This round of financing was led by Keiretsu Forum and included other angel, social impact and strategic investors. Puralytics is using the funding to accelerate it sales pipeline, product development and operational capabilities.
“This investment reflects the growing market need for cost-competitive solutions that deliver access to clean, potable water,” said Puralytics CEO Mark Owen. “Our investors see the economic opportunity, as well as the social impact, that our water purification technologies offer.”
“The funding has enabled us to further bolster our company’s foundation and team,” added Owen. “To date, we’ve already introduced two products to market and are in the early stages on a third. And to meet growing demand, we’re also expanding our manufacturing capabilities to support a qualified sales pipeline of $20M.”
Puralytics develops innovative products that help both the developing and developed world meet their growing water needs. The company’s current product focus includes: the SolarBag, Shield and LilyPad.
The SolarBag is a personal water purification device with a patented process that uses sunlight to activate a nanotechnology mesh that removes bacteria, viruses, heavy metals, and chemical contaminants. The SolarBag is the first non-powered, non-chemical system to ever exceed the requirements set by the U.S. Environmental Protection Agency’s Standard and Protocol for Water Purifiers. Last month, the International Water Association announced that Puralytics' SolarBag received its Global Honor Award for Drinking Water Supply for its innovative solution to providing access to safe drinking water in Malawi. To-date, the SolarBag has been sold in more than 50 countries and is available for purchase online and through a growing number of retail outlets.
The Shield is a low cost of ownership and broadly effective advanced water purification system. It’s designed for decentralized solutions for drinking water, industrial waste polishing and laboratory water applications using LEDs, advanced optics and nanotechnology, treating up to 1,000 gallons of water per day. The Shield has been deployed in 11 counties through Puralytics growing network of distribution partners.
The LilyPad is a sunlight activated solution that addresses contaminants from storm water run-off and from other industrial waste water sources in retention ponds. Still in its implementation phase, Puralytics was awarded an OregonBEST grant, courtesy of the Oregon Built Environmental and Sustainable Technologies Center, and is working with Oregon State University to test the LilyPad and bring the technology to a marketable product.
Puralytics, a water purification equipment company headquartered in Beaverton, Oregon, has developed a patented photochemical water purification process using only light to activate an advanced nanotechnology photocatalyst. Water is purified through five simultaneous photochemical reactions, breaking down chemical compounds (such as petrochemicals and pharmaceuticals), reducing and removing heavy metals (like arsenic, lead, and mercury), and sterilizing bacteria, viruses, and other pathogens. Puralytics has won numerous awards including the National Grand Prize at the Cleantech Open, selection as a Global Water Intelligence “Best Investment,” the Zino Green Fund “Best Cleantech Investment,” was listed by Inc Magazine as one of the top 8 water investments of 2012, and finalist for both the ImagineH2O Water Energy Nexus Award and for TechCrunch cleantech award. Puralytics was also named a Top 50 Water Technology Company by The Artemis Project, and placed on the Global Cleantech 100 - a list of the top 100 private companies in clean technology as evaluated by the Cleantech Group LLC. Most recently, Puralytics received the 2013 Global Honor Award from the International Water Association, citing its demonstrated success with the SolarBag as a clean drinking water solution in Africa.