Membrion Closes $12.5M Series B

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on August 8, 2023

Indico´s Blue Fund invests in the harsh water treatment company

Indico has announced today an investment in Membrion´s $12.5 million Series B round. Membrion develops electro-ceramic desalination technology to treat harsh water effluents from industrial facilities, such as electric battery production, in a highly cost-effective and environmentally friendly manner. Indico joins Samsung Ventures, Lam Capital, PureTerra, GiantLeap, Freeflow and Safar Partners, and other investors in the round.

Founded in 2016 as a spin-out startup from the University of Washington, Membrion created the world’s first desalination membrane made of ceramic materials to selectively remove dissolved salts, minerals, and metals from harsh industrial water streams. Similar processes have been available since the 60’s. However, traditional polymeric membranes could not operate under harsh conditions and so industrial facilities have used CO2-intensive chemical & thermal treatment. The novel technology developed in-house combines the long life and performance advantages of ceramic membranes with the “roll-to-roll” processing that makes polymer desalination membranes so economical. 

The solution will bring new sustainable and cost-effective solutions to both traditional industries such as food & beverage and fast-growing sectors like electric battery production, which results in heavy metal wastewater, concentration of difficult brine streams, or high-temperature wastewaters, often trucked off-site for treatment through costly energy-intensive processes. Using Membrion’s technology, these industrial companies can now recover up to 98% of water in the harshest conditions, allowing for the recycling of previously wasted water.

Greg Newbloom, Founder and CEO of Membrion, says: “We are delighted to welcome Indico to our journey. Their reputation as a firm and focus of the Blue Fund fits perfectly with our mission and development path. We hope to be able to expand to Europe through Portugal in the near future.”

Stephan Morais, Managing General Partner of Indico Capital, stated: “Membrion is a deep tech company that solves a serious environmental problem. Water is increasingly scarce and valuable, particularly clean water running into our oceans. We are delighted to support their expansion and particularly their European plans.”

Membrion’s new fundraise will fuel the company’s growth plans, preceding a future expansion to Europe, allowing them to serve a global market that anxiously awaits better sustainable solutions for water savings and avoidance of ocean contamination around the world.

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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