Oberlin-based CoreWater Technologies Inc., a trailblazer in sustainable water treatment solutions, has successfully concluded a funding round securing $1.3 million, as per an official announcement. This funding underscores strong support for the company's innovative technology addressing the pervasive issue of PFAS (per- and polyfluoroalkyl substances) in water sources, often referred to as "forever chemicals."
The recent funding was spearheaded by a consortium of investors who recognize the urgency and importance of CoreWater's mission. The injection of capital is expected to significantly expedite the development and implementation of the company's state-of-the-art PFAS remediation technology.
As part of the development, George Gray, a faculty member at the Milken Institute School of Public Health at George Washington and former assistant administrator of the EPA, will join the Board of Directors.
Dennis M. Flood, CEO of CoreWater Technologies Inc., expressed gratitude for the support from investors, emphasizing the company's dedication to combating the widespread threat of PFAS in water sources. The "forever chemicals" are synthetic substances known for their persistence in the environment and potential adverse effects on human health and wildlife.
PFAS compounds, with their robust molecular structure, resist degradation in the environment, earning them the moniker "forever chemicals." These substances have been extensively used in various industrial and consumer products, including nonstick cookware, water-repellent fabrics, firefighting foams, and food packaging, contributing to contamination in water sources.
The release notes that PFAS contamination affects over 200 million people in the U.S., according to estimates from the Environmental Working Group. CoreWater Technologies Inc.'s PFAS remediation technology is positioned as a breakthrough in efficiently and effectively treating water contaminated with these persistent chemicals.
The company's commitment to research and development is highlighted, emphasizing its goal to remove PFAS compounds from potable water, ensuring safer and cleaner drinking water. The recent funding will enable CoreWater Technologies Inc. to expedite field-testing initiatives, scale up production, and further refine its proprietary technology. The company remains resolute in providing reliable, environmentally conscious, and scalable solutions to address PFAS contamination challenges nationally and globally.