LONDON--(BUSINESS WIRE)--Puraffinity announced today that it has been awarded a £1.5M grant from Innovate UK, as part of UK Research and Innovation's Transforming Foundation Industries (TFI) Programme. TFI grants fund research and development projects that demonstrate future technologies capable of addressing the resource or energy efficiency challenges of the UK’s foundational industries (including cement, semiconductors, ceramics, metals, and bulk chemicals).
Under Innovation UK and Horizon 2020 grants, Puraffinity has developed several sustainable materials that target the adsorption of highly challenging forever chemicals pollutants, including Perfluoroalkyl and Polyfluoroalkyl Substances (PFAS), from water and wastewater. PFAS are manmade chemicals used for decades across foundational industries like chemical manufacturing and the cement industry. Unregulated PFAS industrial discharges have caused significant detrimental environmental and health impacts.
Puraffinity will use the grant funds to increase and refine its adsorbent materials to address specific requirements of the chemicals foundational industries. The team continues to grow and develop its staff and has recently expanded into a new lab space to improve throughput while reducing the greenhouse gas emissions of its products.
"Our technology targets foundational industries that require PFAS treatment at the source, as well as additional markets needing large-scale PFAS removal,“ said Puraffinity CEO Henrik Hagemann. “We will use the funds to scale up and deploy our technology in global markets that are in immediate need of a solution to the PFAS problem. We’re testing products against new broad-spectrum PFAS standards and we have seen preliminary results exceed regulatory requirements."
US-based HG Ventures partnered with Innovate UK to drive environmentally sustainable innovation in the United Kingdom. HG Ventures was chosen as the only investor outside Europe to participate in the program following a competitive selection process. HG Ventures led the investor group that matched the TFI grant, with participation from US-based group Acecap, and participated in Puraffinity’s Series Seed in 2019, alongside lead VC firm Kindred Capital from the UK and co-investor Verve Ventures from Switzerland.
“We have been impressed by Innovate UK’s ability to work collaboratively with venture investors to support innovative startups, and our partnership continues to deliver outstanding benefits,” said Jon Schalliol, Director at HG Ventures. “We are really pleased to continue to support this program and proud to work with the Puraffinity team as they continue developing smart materials to address the global PFAS problem.”
HG Ventures has made several European-based investments in environmental services, green chemistry, and sustainable infrastructure. UK companies can connect with HG Ventures at InnovateUK@hg.ventures.
About Puraffinity
Puraffinity specialises in the design and development of precision materials and has developed a sustainable novel adsorbent capable of removing highly challenging forever chemicals from contaminated water and wastewater. The company is at the forefront of developing solutions for overcoming imminent water quality challenges, whilst sustainable and positive environmental impact lies at the heart of the company’s ethos. www.puraffinity.com
About HG Ventures
HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis, Indiana. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. We leverage the world-class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners. www.hgventures.com.
