Puraffinity, a startup specializing in advanced technologies that eliminate per- and polyfluoroalkyl substances (PFAS) from water, has revealed its plans for expansion following the appointment of Vincent Caillaud as the new CEO and the acquisition of £6.73 million in fresh investment from BGF.
Caillaud brings over 20 years of experience in the water industry, having previously served as the CEO of Veolia Water Technologies and Solutions, a global unit within Veolia, the largest company in water, energy, and waste management.
With Caillaud’s appointment aimed at enhancing market access for the technology, Puraffinity’s founder, Henrik Hagemann, can now concentrate on advancing the company’s technological leadership as chief product and innovation officer.
Caillaud expressed that Puraffinity “is excited to join BGF’s expanding network of climate tech startups as we continue our mission to provide PFAS-safe water globally.” He added, “With BGF’s expertise in supporting startups with breakthrough technologies, we anticipate significantly enhancing our commercial capabilities and broadening the global impact of our patented PFAS-removal solutions.”
BGF’s investment finalizes Puraffinity’s Series A funding round, totaling £16.93 million, which follows previous investments from Octopus Ventures, HG Ventures, Kindred Capital, Verve Ventures, and the Universal Materials Incubator (UMI), a specialist fund in materials science.
“Puraffinity is strategically positioned to achieve its goal of delivering PFAS-safe water to one billion people by 2030,” noted Luke Rajah, an investor at BGF. “We are excited to collaborate with Puraffinity as it embarks on a new phase of rapid global growth, making significant strides toward improving water safety. BGF has established a strong reputation for identifying and supporting early-stage companies that create technologies with immense potential and societal benefits.”
The funding will allow Puraffinity to increase production of its PFAS-adsorbing material, Puratech, to satisfy rising demand across various sectors. Additionally, it will facilitate the development of new commercial applications utilizing Puraffinity’s materials.
Founded in 2015 by Hagemann and Gabi Santosa and emerging from Imperial College London, Puraffinity offers a unique solution to the escalating PFAS crisis, as its technology effectively removes PFAS from water in a more cost-efficient manner compared to traditional methods.
Puraffinity’s precision technologies position it at the forefront of combating PFAS, substances linked to numerous health concerns, including cancer. Originating in the 1940s, PFAS are resistant to water, grease, and oil, leading to widespread industrial applications.
However, these properties also render them difficult to eliminate, earning them the moniker ‘forever chemicals’. According to the National Institute of Environmental Health Sciences, PFAS have infiltrated water supplies globally, with an estimated 97% of individuals possessing PFAS in their bodies.
International regulators are considering bans or restrictions on PFAS levels in drinking water to address the estimated €16 trillion annual costs associated with environmental cleanup and healthcare.
Puratech, the adsorbent material developed by Puraffinity, is versatile and can be integrated into any existing water treatment system with its customizable plug-in design. It can also be adjusted to target specific PFAS compounds, enabling users worldwide to comply with diverse regulatory standards.
This high-performance material employs green chemistry technology, resulting in 60% lower carbon emissions during production compared to traditional petroleum-based products, according to Systemiq 2022.
“Recruiting a respected figure like Caillaud from the water industry, coupled with BGF’s investment, highlights not only the progress Puraffinity has made but also the tremendous potential of the business,” remarked Hagemann. “This new management structure will enable me to focus on accelerating our current technologies and developing future product strategies.”
Source :Puraffinity
