CoreWater Technologies Inc. in Oberlin, an innovator in sustainable water treatment solutions, announces the successful completion of a $1.3 million funding round, according to a news release.
This funding reflects the robust support for the company’s pioneering PFAS (per- and polyfluoroalkyl substances) remediation technology, affirming its
dedication to addressing the critical issue of “forever chemicals” in water sources, the release said.
The recent investment round was led by a consortium of investors who recognize the urgency and significance of CoreWater’s mission, according to the release.
The infusion of capital will significantly accelerate the development and deployment of the company’s cutting-edge PFAS remediation technology, the release said.
The company also will have George Gray, faculty member, Milken Institute School of Public Health at George Washington and former assistant administrator of the EPA, which is second in command, serving on the Board of Directors, according to the release.
“Securing this funding milestone is a testament to our commitment to combatting the pervasive threat of PFAS in our water sources,” said Dennis M. Flood, CEO of CoreWater Technologies Inc. in the release. “We are grateful for the support from our investors as we continue to advance our innovative technology to protect communities and the environment.”
The PFAS substances are a group of synthetic chemicals that have garnered significant attention due to their persistence in the environment and potential adverse health effects on humans and wildlife, according to the release.
These compounds have been coined “forever chemicals” due to their strong molecular structure that makes them resistant to degradation in the environment, leading to their persistence over time, the release said.
There are thousands of known PFAS chemicals, and they have been used in various industrial and consumer products for decades due to their unique properties, such as resistance to heat, oil, water and stains, according to the release.
They have been commonly found in items like non stick cookware, water-repellent fabrics, firefighting foams, food packaging and many other everyday products, the release said.
Also, PFAS are contaminating water sources, according to the release.
The Environmental Working Group (www.ewg.org) estimates that more than 200 million people in the U.S. are drinking water contaminated with forever chemicals, the release said.
CoreWater Technologies Inc.’s PFAS remediation technology represents a breakthrough in treating water contaminated with these persistent chemicals, according to the release.
“With an unwavering dedication to research and development, the company’s solution aims to remove PFAS compounds efficiently and effectively from potable water, ensuring safer and cleaner drinking water for all,” the release said. “This recent funding will enable CoreWater Technologies Inc. to accelerate its field-testing initiatives, scale up production and further refine its proprietary technology.
“The company remains steadfast in its commitment to delivering reliable, environmentally conscious and scalable solutions to address PFAS contamination challenges in the U.S. and globally.”
For more information about CoreWater Technologies Inc. and its groundbreaking PFAS remediation technology, visit www.corewatertech.com.
CoreWater Technologies Inc. is located at 132 Artino St.
