Today's News

Vancouver, BC, March 15, 2019--(T-Net)--Vancouver-based cleantech company (and UBC spinoff company) CarboNet has raised a $5.5 million seed-financing round, according to a number of online sources including Business in Vancouver and Crunchbase.

Read the full story (with substantial more detail) on the Business in Vancouver website here.

CarboNet is bringing to market a safe and economic water treatment method to remove contaminants from produced and flowback water. They are for unconventional E&Ps looking to reduce treatment costs, increase recycling and minimize safety risks on site.

The company is led by Barry Yates, CEO. Barry has served in executive management positions for leading technology firms for over 15 years, most recently as the Managing Director for Entrepreneurship at UBC.

Prior to UBC, He was President & CEO of Monexa, a subscription billing Software Company, which was acquired by NetSuite in 2015. Following the acquisition, he served as the General Manager for the Software Vertical market at NetSuite.

Before Monexa, Barry was the Chief Operating Officer at Blast Radius where he led the company's expansion to become one of the top 10 global digital marketing agencies with offices in Canada, the US and Europe.

ABOUT CARBONET

Carbonet's novel technology was developed at the University of British Columbia. The patent pending chemical method is designed to efficiently and safely treat industrial wastewater. Based in Vancouver and Houston, the CarboNet team is composed of experienced entrepreneurs, oil field services operators and chemists that love what they do and are passionate about changing the perspective on how water can be treated.