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Axine Water Technologies Receives $400,000 Additional Support from NRC-IRAP to Complete Scale-up
Thursday, March 27, 2014Company Profile | Follow Company
$400,000 of new funding to support cell scale-up and multi-cell stack design as Company accelerates commercialization
Vancouver, BC, March 27, 2014--(T-Net)--Axine Water Technologies, developers of a low-cost, chemical-free solution for treating high concentrations of problematic toxic organics, ammonia, and other pollutants in industrial wastewater, today announced additional support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
The new conditional funding of up to $400,000 will be used to complete scale-up of the Company's proprietary electrolytic oxidation cell and to complete preliminary multi-cell stack design modules.
“We continue to receive overwhelming support from the Canadian innovation and investment community enabling us to accelerate commercialization of our industrial wastewater treatment technology,” said Jonathan Rhone, President & CEO of Axine. “With new resources from our equity investors, along with the advisory services, technological expertise, and financial contributions provided by the NRC-IRAP, we're working closely with customers in the oil & gas, chemicals, and waste management markets to deliver field pilot units early next year.”
The additional government funding comes on the heels of Axine's recent $5.6 Million milestone Series A financing and just days before the United Nations' World Water Day focused this year on the interdependency between water and energy.
Water is an integral element of energy resource development and generation but just as important is its role in wastewater treatment. As wastewater volumes hit record highs, pollutant levels increase and become more difficult to break down, and treatment regulations become more stringent, energy consumption (and price) increases making Axine's energy-efficient approach the cost-effective option for water-intensive industries. Axine ensures the most effective handling of produced water and increases water reuse in industrial processes at a fraction of the cost of today's alternatives.
About Axine Water Technologies
Axine has developed a low-cost, chemical-free solution for treating high concentrations of problematic, toxic organics, ammonia, and other pollutants in industrial wastewater solving a multi-billion dollar problem for large companies in a wide range of industries. Its energy-efficient, scalable system treats recalcitrant and non-biodegradable organics and some inorganics (up to 10,000 mg/L COD) at up to five times lower cost than conventional chemical or biological solutions. And due to its compact, modular design, it is designed to seamlessly “plug into” existing treatment plants, targeting specific pain points without disruption to current processes. This means for the first time, oil & gas, refining, chemical production, and other heavy industries can avoid the production bottlenecks, high treatment and disposal costs, water reuse limitations, and difficulties meeting increasingly tougher regulations that have plagued them for decades. For more information, please visit www.axinewater.com.
MEDIA CONTACT:
Hanah Van Borek
Magnolia Marketing Communications
Direct: (778) 322-8967
Email: hanah@magnoliamc
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