Axine Water Technologies, a Vancouver, BC, Canada-based developer of technology for treating toxic organic pollutants in waste water, has raised a financing round of undisclosed amount.
The round was led by Chrysalix Energy Venture Capital, with participation from the Business Development Bank of Canada’s venture capital arm.
Wal van Lierop, Chairman (and President & CEO of Chrysalix), Axine developed proprietary electrolytic oxidation technology designed to treat high concentrations of toxic organics, as well as biodegradable organics, ammonia, and pathogens in a single step without using chemicals and without producing sludge.
The company is initially focused on developing applications in oil and gas, pharmaceuticals, chemicals, food and beverage, and other heavy industries where its technology can be integrated into existing wastewater treatment plants to improve performance and reduce cost. Its longer-term vision is to incorporate the technology into the design of new wastewater plants to displace conventional biological, chemical oxidation, and other traditional wastewater equipment with a single process step.