Puraffinity, a London-based startup specializing in the removal of perfluoroalkyl and polyfluoroalkyl substances (PFAS) from water, has recently announced a new investment of £6.73M from BGF. The funding will contribute to Puraffinity’s Series A round, taking the total raised to £16.93M. This financial boost will support the scaling up of their patented PFAS-capturing material, Puratech, and aid in the development of new commercial applications for their technology.
Efforts to remove PFAS contamination have been ongoing, with various companies trying to tackle the issue over the years. Puraffinity’s approach involving precision technology has set it apart from other solutions. Their innovation in addressing “forever chemicals” through adaptable materials has shown a higher efficacy rate compared to traditional methods. The company’s rapid growth and substantial funding indicate a promising future in a market increasingly focused on environmental sustainability.
Past reports on PFAS contamination have highlighted its pervasive presence and the challenges in mitigating its effects. Puraffinity’s breakthrough technology offers a more targeted solution, aligning with stricter regulatory requirements globally. These advancements underscore the importance of evolving technologies in managing environmental health risks.
New Leadership Appointment
In conjunction with the new funding, Puraffinity also announced the appointment of Vincent Caillaud as its new CEO. With over two decades of experience in the water sector, Caillaud previously served as CEO of Veolia Water Technologies & Solutions. His appointment aims to enhance market access and allow co-founder Henrik Hagemann to focus on technological advancements as Chief Product and Innovation Officer.
“At Puraffinity, we are delighted to join BGF’s growing network of climate tech startups as the company continues on its mission of providing PFAS-safe water to the world,” said Vincent Caillaud, CEO of Puraffinity.
Commitment to Environmental Solutions
Founded in 2015, Puraffinity emerged from Imperial College London and concentrates on eliminating PFAS, often referred to as “forever chemicals,” from water sources. Their flagship product, Puratech, can be integrated into existing water treatment systems and customized to target specific PFAS compounds, making it versatile for different regulatory environments worldwide.
“Attracting such a respected water industry figure as Vincent, alongside investment from BGF, underlines not only the progress Puraffinity has already made but the incredible potential of the business,” remarked Henrik Hagemann, founder of Puraffinity.
Investor’s Perspective
BGF, a significant player in the UK investment landscape, has injected over £4B into more than 600 companies to date. As a minority, non-controlling equity partner, BGF aims to support long-term growth objectives of innovative businesses like Puraffinity.
“Puraffinity is well-positioned to fulfil its vision of bringing PFAS-safe water to one billion people by 2030. BGF is thrilled to work with Puraffinity as it enters a new phase of rapid, global growth,” said Luke Rajah, an investor at BGF.
The financial backing and new leadership at Puraffinity signal an optimistic future for the startup. The company’s pioneering technology stands to make a significant impact in the global fight against PFAS contamination. As regulatory standards tighten and the demand for clean water solutions grows, Puraffinity’s innovative approach places it at the forefront of environmental remediation technologies.
