Novinda Raises $6M in Series C Financing
Novinda Corp., a Denver, CO-based developer of non-Carbon reagent for mercury emission control, has received $6m in Series C equity financing.
Backers include existing investors New Venture Partners and Altira Group.
The company intends to use the funds to launch its non-carbon reagent for mercury emission control in coal-fired power plants.
Formed in 2009 as a spin out of CH2M HILL to commercialize environmental technologies for the power utility industry, and led by CEO Ed Williams, Novinda pioneered the concept of a reagent for removing mercury with chemical reactions, rather than through absorption technologies. Its Amended Silicates® is a non-carbon mercury control product 100% compatible with fly ash use in concrete products. It meets the mercury removal rates required by the EPA’s proposed Maximum Achievable Control Technology (MACT) standards.