BEAVERTON, Ore. – Puralytics, a leading provider of advanced water purification technology, announced today the company has completed its $4 million Series A Preferred Stock Round. This round of financing was led by Keiretsu Forum and included other angel, social impact and strategic investors. Puralytics is using the funding to accelerate it sales pipeline, product development and operational capabilities.
“This investment reflects the growing market need for cost-competitive solutions that deliver access to clean, potable water,” said Puralytics CEO Mark Owen. “Our investors see the economic opportunity, as well as the social impact, that our water purification technologies offer.”
“The funding has enabled us to further bolster our company’s foundation and team,” added Owen. “To date, we’ve already introduced two products to market and are in the early stages on a third. And to meet growing demand, we’re also expanding our manufacturing capabilities to support a qualified sales pipeline of $20 million.”
Puralytics develops innovative products that help both the Developing and Developed World meet their growing water needs. The company’s current product focus includes: the SolarBag, Shield and LilyPad:
The SolarBag is a personal water purification device with a patented process that uses sunlight to activate a nanotechnology mesh that removes bacteria, viruses, heavy metals, and chemical contaminants and is the first non-powered, non-chemical system to ever exceed the requirements set by the U.S. Environmental Protection Agency’s Standard and Protocol for Water Purifiers. Last month, the International Water Association announced that Puralytics' SolarBag received its Global Honor Award for Drinking Water Supply for its innovative solution to providing access to safe drinking water in Malawi. To-date, the SolarBag has been sold in more than 50 countries and is available for purchase online and through a growing number of retail outlets.
The Shield is a low cost of ownership and broadly effective advanced water purification system. It’s designed for decentralized solutions for drinking water, industrial waste polishing and laboratory water applications using LEDs, advanced optics and nanotechnology, treating up to 1,000 gallons of water per day. The Shield has been deployed in 11 counties through Puralytics growing network of distribution partners.
The LilyPad is a sunlight activated solution that addresses contaminants from storm water run-off and from other industrial waste water sources in retention ponds. Still in its implementation phase, Puralytics was awarded an OregonBEST grant, courtesy of the Oregon Built Environmental and Sustainable Technologies Center, and is working with Oregon State University to test the LilyPad and bring the technology to a marketable product.
OCTOBER 17, 2013