Osmoses, a Cambridge, MA-based industrial separations technology company, raised $11M in Seed funding.
The round was led by Energy Capital Ventures with participation from Engine Ventures, Fine Structure Ventures, New Climate Ventures, Collaborative Fund, Little Green Bamboo, BlindSpot Ventures and angel investors including Martin Madaus.
Founded in 2021 and spun out of MIT, and led by CEO Francesco Maria Benedetti, Osmoses has developed patented novel membrane technology that purifies gas molecules, with a significantly smaller physical footprint than today’s traditional separation processes. In some applications involving hydrogen purification, Osmoses’ family of polymer materials can deliver high product recoveries at a fraction of the cost and reduction in footprint. They can also power profitable hybrid separation system designs for low feed concentrations such as those in hydrogen de-blending and helium recovery.
its polymer platform is reducing the energy and capital needed to drive global energy transition.
In addition to its venture capital funding, Osmoses recently received a $1.5M grant from the U.S. Department of Energy (DOE), as well as additional grant support from ARPA-E and NSF, among other organizations.
The company intends to use the funds to develop commercial scale membrane modules for field deployment and establish pilot partnerships. In the coming months, Osmoses will double its full-time employee headcount, increase its pilot programs with chemical and petrochemical companies, utilities, and alternative energy companies, and develop partnerships with engineering and manufacturing firms.
FinSMEs
04/10/2023