Axine Water Technologies, a Vancouver, Canada-based developer of low cost, chemical-free solutions for treating ammonia and toxic organics in industrial wastewater, closed an $8m Series B financing.
The round was led by Japanese multinational Asahi Kasei Corporation, with participation from existing shareholders Chrysalix Energy Venture Capital, BDC Energy Venture Capital, and Roda Group.
The company will use the funds to continue to expand operations.
Led by Jonathan Rhone, CEO, Axine develops low cost, chemical-free solutions for treating ammonia and toxic organics in industrial wastewater addressing pain points for customers in microelectronics, chemical, pharmaceutical and other industries.
The company’s solutions are based on an electrochemical technology that is compact, modular and integrates into existing treatment plants to target specific pain points without disrupting operations.