Vaperma scoops up $5.5 for ethanol-filtration
Vaperma, maker of the Siftek membrane system used to drain water from ethanol, brought in a $5.5 million tranche of a $17.2 million second round of funding. The money will go toward the Quebec City company’s first shipments of filters and additional product research, reports VentureWire.
The filtration system — also capable of separating out nitrogen and oxygen for industrial purposes — will be sold for between $5 and $10 million. Vaperma is already testing two of the products in Canada and Brazil, and claims that they could eventually save 7 cents for every gallon of ethanol by shaving some of the cost off the expensive de-watering process.
The round included investments from Low Carbon Accelerator (which kicked in $2.3 million), Volvo Technology Transfer, Emerald Technology Ventures, BDC Capital and Fonds d’investissement en developpement durable (FIDD).
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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