Claros Technologies raises 10 million USD to accelerate global PFAS destruction technology
The funding comes as manufacturers face increasing regulatory pressure, prosecutions, and lawsuits over PFAS chemicals in their operations. Also known as 'forever chemicals,' per-or poly-fluoroalkyl substances ('PFAS') are a large group of industrial chemicals characterised by strong carbon-fluorine bonds, which make them resistant to breaking down.
Used in a wide range of applications from waterproof raincoats, hiking pants, and yoga pants to household products such as furnishing and cookware since the 1950s, PFAS have the ability to withstand extremely high temperatures, while being highly resistant to oil and water. Today, PFAS are recognized as persistent environmental pollutants that resist breakdown and have been linked to health problems, including reproductive issues, thyroid disorders, and various cancers.
Now, a growing demand for permanent, cost-effective PFAS destruction technology has driven interest in Claros' solutions across North America, Europe, and Asia. The convertible note attracted both existing investors, including Capita3, University of Minnesota, American Century Private Investments, and F.R. Bigelow Foundation, and new strategic backers, creating a diverse investor base supporting the company's growth and market position.
Michelle Bellanca, CEO and Co-founder of Claros, highlighted the importance of the company's recent progress and the funding raised to support it, saying: 'Our recent pilot with Daikin America, Inc. where our ClarosTechUV PFAS Destruction System achieved 99.99 percent destruction of targeted PFAS in high-flow wastewater—was a watershed moment for industrial operations and a major milestone for Claros.'
'That pilot not only set a new benchmark for what's possible in scalable, low-cost and permanent PFAS destruction, it validated our ability to destroy all PFAS species (long, short, and ultra-short) at scale, efficiently and affordably. Interest in Claros has been building steadily as regulatory pressure intensifies and industrial stakeholders seek permanent and reliable PFAS solutions. The Daikin pilot marked a powerful inflection point, and this convertible note is not just a vote of confidence from our investors, but a critical enabler of our ability to scale quickly and meet the urgency of the moment.'
Steve Sefton, the Chairman of Clearwater Equity, one of the new investors in the note, added: 'There's no denying that Claros is at the forefront of addressing one of the most pressing environmental challenges of our time. While PFAS will remain part of many essential industrial processes for the foreseeable future, there's no reason the waste streams involved in making and using them should continue seeping into the environment. Claros delivers a best-in-class solution that cuts PFAS off at the source, destroying them in a scalable, cost-effective way that meets today's regulatory demands while helping industry stay ahead of the environmental standards of tomorrow.'
The 10 million USD convertible note brings Claros' total funding to 39 million USD since its founding, including grants and investments. The capital will be used to fund the scaling of the ClarosTechUV PFAS Destruction System, expanding pilot and installation programs globally, and building commercial operations across North America, Europe, and Asia.
Summary Claros Technologies secured 10 million USD in funding to accelerate the commercial deployment of its ClarosTechUVnPFAS Destruction System, which addresses the growing problem of PFAS contamination.
The ClarosTechUV PFAS Destruction System achieved 99.99 percent destruction of targeted PFAS in high-flow wastewater during a pilot with Daikin America, Inc., demonstrating its effectiveness and scalability.
Claros' technology offers a cost-effective and permanent solution for destroying all PFAS species, meeting regulatory demands and helping industries stay ahead of environmental standards.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion United
9 hours ago
- Fashion United
90 percent of US imported second-hand garments are reused domestically in Guatemala
The global secondhand clothing market doesn't necessarily carry a good name, as textile waste from developed countries has been disproportionately impacting countries from Ghana and Kenya to Uganda and Nigeria, according to Bank & Vogue. With many third-world countries lacking the proper infrastructure to handle the sheer volume of imported used clothing, the large majority of these textiles end up in overflowing landfills, creating environmental pollution while hindering local textile and apparel industries. However, a new report from Garson & Shaw, a global wholesale supplier of used clothing, has found that nearly 90 percent of imported clothing to Guatemala is not dumped, but actually reused domestically, challenging misconceptions about textile waste dumping while outlining the innovative recycling solutions that exist for non-reusable products. The report found that 98.6 percent of secondhand clothing imported into Guatemala originated from the United States in 2023. Equal to more than 131 million kilograms of apparel, this makes the US Guatemala's largest supplier, while also positioning Guatemala as one of Central America's largest markets for used clothing. At the same time, it also underlines the importance of cross-border supply chains when it comes to recycling and circular economy practices. Secondhand clothing imports in Guatemala are driving local value & job creation The secondhand clothing market in Guatemala is said to operate through both formal and informal channels, according to the report. Megapaca, the country's largest formal retailer, employs over 4,100 people and manages nationwide operations. Next to this, there also exists an extensive informal economy for the used clothing trade, composed of market traders, micro-retailers, and street vendors, who are responsible for last-mile distribution. Imports are largely in the form of unsorted 'ropa cruda' bales, which are high in demand among local businesses that prefer to handle their own sorting operations. These 'ropa cruda' bales allow domestic stakeholders to conduct local sorting, grading, and pricing, supporting value creation within the country. 'Secondhand clothing shipped to Guatemala goes through multiple layers of value extraction by local sorters, retailers, and vendors,' said Jennifer Wang, founder of Full Cycle Resource and lead author of the report, in a statement. 'In fact, 88 per cent to 92 per cent of clothing is sorted for reuse. What we found is that the activity of sorting locally was not only valued but vital. It adds economic value, creates jobs, and ensures clothing can meet the specific needs of local markets.' Prices in informal markets range from 0.13 USD for low-grade garments to 6.48 USD for higher-quality items, meaning that it is poised to be a highly lucrative market for traders. Imported clothing undergoes a two-stage sorting process, according to the report. This includes removing non-reusable items and separating accessories and shoes, followed by detailed quality grading. Waste rates for sorted imports sit at approximately 5 percent, compared to 12.2 percent for unsorted clothing, underlining the importance of sorting. How secondhand clothing imports are suporting women's economic empowerment in Guatemala The report also found that the secondhand clothing market is a notable contributor to women's economic participation. A survey of 382 traders indicated that 60.7 percent were women, with 57.4 percent of all secondhand clothing businesses owned by women, over twice the national average for female business ownership. In addition, 94.2 percent of respondents reported improved household finances, giving Guatemalan women more power in their households. The gender wage gap in this sector is 17 percent, which is below national and regional averages. Lastly, the report found that Guatemala's overall waste management infrastructure remains limited, with a collection rate of approximately 55 percent and no separate tracking of textile waste. However, waste from the secondhand clothing sector represents a small share of total volumes and is managed more effectively than many other waste streams. This report is significant because it shifts the conversation from waste to opportunity,' added Lisa Jepsen, CEO of Garson & Shaw. 'It offers concrete evidence that global reuse systems are not only environmentally beneficial but also economically and socially valuable. It highlights the need to integrate international reuse into US waste and circular economy policy.'
Reuters
15 hours ago
- Reuters
South African rand lifted by gold, focus on inflation data next week
JOHANNESBURG, Aug 15 (Reuters) - South Africa's rand firmed against a weaker dollar on Friday, helped by higher gold prices as worries over the United States' fiscal health sent investors into the safe-haven asset. At 0807 GMT, the rand traded at 17.5250 against the dollar , about 0.5% stronger than its previous close. Gold prices gained on Friday, boosted by a pullback in the dollar which was last trading down about 0.3% against a basket of currencies. Like other major producers of precious metals, South Africa often benefits from higher gold prices. Investors will keep a keen eye on domestic inflation figures due on Wednesday next week, for clues about the health of Africa's most industrialised economy. "... it has been an impressive week for the ZAR so far, as it started the week above 17.70 and could make it 10 cents stronger at the close of trade today," said ETM Analytics in a research note. "Intra-day U.S. retail sales and industrial production will take centre stage and will likely determine how the USD closes out the week," said the note. On the stock market, the Johannesburg Stock Exchange's Top-40 (.JTOPI), opens new tab index was up 0.3%. South Africa's benchmark 2035 government bond was also slightly firmer in early deals, with the yield down 1 basis point to 9.595%.
Reuters
17 hours ago
- Reuters
Gold heads for weekly decline as US inflation data dims Fed rate cut hopes
Aug 15 (Reuters) - Gold prices edged higher on Friday, buoyed by a weaker dollar, but were poised for a weekly decline after hotter-than-expected U.S. inflation data dampened prospects for a super-sized September rate cut by the Federal Reserve. Spot gold rose 0.3% to $3,345.21 per ounce as of 0757 GMT. Bullion has lost 1.5% for the week. U.S. gold futures for December delivery gained 0.3% to $3,391.70. The U.S. dollar index (.DXY), opens new tab fell 0.3%, making gold less expensive for other currency holders. "In the short term, gold has a heightened inverse relationship to moves in the U.S. dollar, which in turn is being whipsawed by economic data and fast news on both tariffs and Ukraine," independent analyst Ross Norman said. U.S. producer prices increased by the most in three years in July amid a surge in the costs of goods and services, signaling a broader inflation uptick, data showed on Thursday. Weekly jobless claims also came in lower than expected, at 224,000 compared to forecasts of 228,000. The economic data shifted expectations for a Fed rate cut, with investors now anticipating easing in October rather than September. Non-yielding gold typically performs well in low-interest-rate environments. Consumer price index data earlier this week showed only a marginal increase in July, briefly boosting hopes for large-size rate cut by the Fed. "We have seen in the past that gold price corrections get smaller and smaller, suggesting that some buyers, who missed out in the past, use these price setbacks as a way to gain exposure to the yellow metal," said UBS commodity analyst Giovanni Staunovo. Physical gold demand in India improved slightly this week as a price pullback lifted buying interest among consumers, while activity in other top Asian hubs remained lacklustre. On the geopolitical front, investors are awaiting the outcome of U.S. President Donald Trump and Russian President Vladimir Putin'smeeting in Alaska later in the day. Elsewhere, spot silver gained 0.1% to $38.02 per ounce, platinum rose 0.5% to $1,363.90, and palladium lost 0.2% to $1,143.25.
