Vancouver’s Axine Technologies Gets $400K from Government Following $6.5 Million Series A Round
Axine Water Technologies this week announced additional support from the National Research Council of Canada Industrial Research Assistance Program: new conditional funding of up to $400,000 that the Canadian company says will be used to complete scale-up of its proprietary electrolytic oxidation cell and to complete preliminary multi-cell stack design modules.
Just last month Vancouver-based Axine closed a $5.6 million Series A financing round.
“We continue to receive overwhelming support from the Canadian innovation and investment community enabling us to accelerate commercialization of our industrial wastewater treatment technology,” said Jonathan Rhone, CEO of Axine, which develops a low-cost, chemical-free solution for treating high concentrations of problematic, toxic organics, ammonia, and other pollutants in industrial wastewater.
As wastewater volumes hit record highs, pollutant levels increase and become more difficult to break down, and treatment regulations become more stringent, energy consumption (and price) increases making Axine’s energy-efficient approach the cost-effective option for water-intensive industries.
“With new resources from our equity investors, along with the advisory services, technological expertise, and financial contributions provided by the NRC-IRAP, we’re working closely with customers in the oil and gas, chemicals, and waste management markets to deliver field pilot units early next year,” he added.
