San Leandro, Calif., based Pasteurization Technology Group, whose wastewater disinfection process creates renewable energy, has raised $1 million from EIC Ventures, the investment arm of Canada-based Concorde Group.
Pasteurization Technology Group (PTG), innovator of the only wastewater disinfection process that creates renewable energy, has secured a $1 million investment from EIC Ventures, an early-stage venture capital investment fund. EIC Ventures is led by David Dubé, an experienced venture capital investor and CEO of Canada-based Concorde Group. Dubé is also a PTG board member and previous investor in the company. The financing will be used to expand PTG’s sales, marketing, R&D and field engineering operations, and to address the rapidly-building customer demand for its technology, which uniquely combines wastewater disinfection with renewable energy generation — solving two problems for the price of one.
“We are extremely pleased by the strong interest Pasteurization Technology Group has received from the investment community over the past year and we are delighted by EIC’s increased investment. EIC Ventures brings strong industry and international expertise that will help us continue our rapid growth,” said Greg Ryan, co-founder and CEO of Pasteurization Technology Group. “We are currently fielding numerous requests from businesses across a variety of industries that want to capture a precious resource—water—while generating renewable energy to offset their electricity costs. Our technology offers a sustainable solution that fits well with current market dynamics and a growing realization that water is a precious and valuable resource that cannot be wasted.” “We are excited to be increasing our investment in Pasteurization Technology Group. As an experienced venture capital investor in the cleantech and energy industries, we see that thousands of wastewater-treatment plants in North America alone are looking for ways to reduce their costs and meet smart sustainability targets,” said David Dubé, managing director of EIC Ventures and CEO of Concorde Group. “PTG’s patented IP offers an extremely efficient solution to industrial customers in the food, beverage, agriculture, and oil and gas industries. In addition, the company’s capital-efficient business model, combined with its growing sales demand, makes PTG highly attractive to us as early-stage venture investors.” PTG’s robust technology is a timely solution for municipal wastewater treatment facilities, many of which are aging rapidly and operating at, or even over, capacity. Additionally, wastewater treatment is facing increasingly stringent water-quality regulations and rising energy costs, driving demand for cost-effective and sustainable solutions that enable the re-use of water. PTG is also experiencing strong demand from industries that include food, beverage, and oil and gas. PTG’s process delivers re-usable water and renewable energy PTG is the first and only company in the world to combine wastewater disinfection with renewable-energy generation. PTG’s patented technology can use the digester gas (often referred to as biogas, a natural by-product of wastewater treatment) as fuel to drive a turbine that generates renewable electricity. The hot exhaust air from the turbine (energy that is typically wasted) is then passed through a series of heat exchangers that increase the temperature of the wastewater to a level that disinfects the wastewater stream. PTG’s technology is significantly more cost-effective and energy-efficient than other methods. And, unlike other wastewater disinfection approaches, PTG’s systems do not require toxic chemicals such as chlorine or costly electrical power and expensive lamps. About Pasteurization Technology Group Located in San Leandro, California, and founded in 2007, Pasteurization Technology Group is revolutionizing the disinfection of wastewater. PTG’s systems utilize its patented “two-for-one” technology that combines wastewater disinfection with the generation of renewable energy. PTG’s process is one of only a handful of technologies to pass the stringent standards of Title 22 in the state of California for the disinfection of water for reuse. By channeling the typically wasted exhaust heat from a turbine to disinfect wastewater, PTG’s process is the most energy-efficient and lowest-cost solution on the market. PTG won the 2011 BlueTech® Go-To-Market Strategy award and the Popular Science 2011 Best of What’s New award. For more information, see http://www.pastechgroup.com and follow @pastechgroup on Twitter.