Claros Technologies, the industry leader in PFAS analytical and destruction technologies, has announced the successful completion of a substantial funding round, led by Ecosystem Integrity Fund and American Century Investments. This strategic investment will enable Claros Technologies to expand the research, development, and market reach of its innovative UV-photochemical PFAS destruction technologies, as well as its durable, bio-based functional materials with antiviral, antibacterial, anti-odor, and broad-spectrum UVA and UVB protection capabilities. Furthermore, the funding will bolster the company’s ISO/IEC 17025:2017 analytical laboratory.
Commenting on the successful funding, Michelle Leonard, CEO and co-founder of Claros Technologies, emphasized the company’s unwavering commitment to environmental responsibility and sustainability. She stated that Claros Technologies is strategically positioned at the forefront of a growing market, providing cutting-edge solutions to address PFAS pollution. Leonard expressed confidence that the company’s technologies will play a pivotal role in ensuring long-term success for its customers, partners, and the planet.
The oversubscribed fundraise is a testament to the trust and confidence placed in Claros Technologies’ technology, commercialization strategy, and vision for a cleaner and safer world. This support will empower Claros Technologies to revolutionize the PFAS destruction landscape and protect the environment for generations to come.
Since its previous financing in 2021, Claros Technologies has achieved significant milestones. The company has successfully scaled its research and development efforts, expanded its commercial partnerships, and strengthened its intellectual property portfolio. Claros Technologies is poised to continue this growth trajectory with the support of its new investors.
The urgent need to address PFAS pollution was highlighted by Peter Davidson, Partner at Ecosystem Integrity. He emphasized the ubiquitous nature of PFAS chemicals, their detrimental environmental and health impacts, and their persistence in the environment. Davidson expressed pride in partnering with Claros Technologies, recognizing their highly effective and cost-efficient methods for eliminating PFAS and analyzing industrial effluent. He believes that Claros Technologies’ capabilities are essential in the fight against PFAS pollution.
PFAS chemicals, a group of over 15,000 compounds, are widely used in various industries, including semiconductor manufacturing, clothing production, furniture manufacturing, and food packaging. They pose significant risks to human health, potentially causing cancer, thyroid disease, kidney dysfunction, birth defects, autoimmune diseases, and other serious ailments. ChemSec estimates the annual societal cost of PFAS in the global economy to be in the trillions of dollars.
Traditional methods of PFAS elimination often perpetuate the PFAS lifecycle, releasing the original or concentrated PFAS back into the environment through wastewater treatment, landfills, incineration, or deep-well injection. These methods are not sustainable and do not fully address the liability concerns associated with PFAS contamination.
AECOM estimates a global PFAS opportunity of over $40 billion. In 2023, the Biden Administration enacted the first regulations and limits on PFAS in drinking water, further emphasizing the critical need for effective PFAS destruction technologies.
Founded upon technical research conducted at the University of California, Berkeley, Claros Technologies is pioneering the use of green chemistry and advanced materials science to combat the global PFAS pollution crisis. The company’s closed-loop PFAS contamination solution permanently destroys all types of PFAS, including long, short, and ultrashort-chain compounds, and outperforms all other technologies in terms of the number of compounds it can eliminate. Claros Technologies is committed to providing the lowest-cost solution with minimal energy usage.
Michelle Leonard, the CEO and co-founder of Claros Technologies, brings a wealth of experience to the company. Prior to founding Claros Technologies, she led the identification, operation, and scaling of technologies at companies such as Intel, IBM, and the Japanese Government’s Ministry of International Trade & Investment. Leonard also served as Managing Director of 3M’s Strategic Corporate Ventures, where she invested in early-stage platform technology companies.
For more information about Claros Technologies, please visit the company’s website.
