On 2 Sep 2009, Bio Pure Technology (BPT), a provider of industrial waste water streams treatment solutions, has raised $12 million in Series B financing led by US Venture Partners (USVP) and Pitango Venture Capital, with participation from existing investors Aurum Ventures and Elron Electronic Industries.
BPT specializes in chemically-stable membrane-based separation solutions intended for use in the water and wastewater treatment industries. BPT’s technology targets customers in the landfill, mining, chemical, biopharma and food sectors, allowing them to filter their wastewater to comply with environmental regulations.
“Cleantech is an area of growing concern to the world market. BPT’s technology and tremendously experienced R&D group are well positioned to play a significant role in the application of nanotechnology to water technology,” Ittai Harel, partner at Pitango Venture Capital.
“USVP has been investing in cleantech for over six years and this is our first cleantech investment in Israel. Water treatment and recycling are critical elements of adapting to climate change,” said Jacques Benkoski, venture partner, “BPT clearly stood out as a unique player with differentiated and leading technology to solve critical waste water recycling issues for key industrial processes.”
BPT said it will use the funds to expand its manufacturing facilities, continue R&D and further develop sales and marketing infrastructure to meet increased worldwide demand. In conjunction with this round Christopher J. Rust, USVP partner and Jacques Benkoski, USVP venture partner will represent USVP on the BPT board and Ittai Harel, Pitango partner, will represent Pitango Venture Capital.
BPT was founded in 2000 by Dr. Motty Perry, the company President. Perry previously founded and served as CEO of Blue Green Environmental Technologies and its subsidiary Nitron, which focused on purification of ground wells. BPT is headquartered in Rishon LeZion, Israel.