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Dow invests in Clean Filtration Technologies

Clean Filtration Technologies has concluded a first closing of USD1.5m in a new round of financing led by The Dow Chemical Company through its venture capital group.

An additional and final closing is anticipated in 2010 that will bring the total investment to USD3m.

CFT is the company behind the CFT Turboclone hydroclone system, a patented water filtration device designed to efficiently reduce total suspended solids from difficult-to-filter water.

Reducing this particulate matter produces a consistent feed stream that is suitable for numerous applications such as wastewater reuse, potable water processing, industrial processing and agricultural irrigation.

The CFT Turboclone filtration device uses both hydroclone and cross flow filtration technologies. This combination creates an efficient treatment solution for difficult to filter feed waters, such as those from many surface or water reuse sources.

Commercial supplies of CFT Turboclone systems will be available in the second half of 2010 for customers in the US and Mexico.

"We are delighted that Dow recognises that the CFT Turboclone filtration system has the potential to make a major and sustainable impact on the industry," says John Mallard, Clean Filtration Technologies’ chief executive. “This investment by Dow enables us to accelerate our full commercial introduction of this exciting new technology. We welcome the opportunity to work with Dow in this area."

“Part of our investment strategy is to support portfolio companies not only with financing but also with access to Dow’s industry expertise, R&D and manufacturing organizations for technology development, and the significant brand equity and validation of a Fortune 50 company,” adds Monty Bayer, global director, Dow ventures and business development, licensing and venture capital. “Resources like these can be vital to a young company’s progress. CFT is a company that we are excited to help support.”
 

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