Claros Technologies, a Minneapolis-based environmental technology company, has closed a $55 million Series B financing to expand commercialization of its PFAS destruction and analytical services platform.
The financing was led by Treehouse Family Capital, with participation from Daikin America, Veralto, Bush Foundation, Nord Asset Management and Saint Paul & Minnesota Foundation, along with existing investors. The total includes Claros’ previously announced convertible-note financing.
Claros said the funding will support additional deployments of its ClarosTechUV PFAS Destruction System across North America, Europe and Asia. The company also plans to increase manufacturing capacity, expand its ClarosLabs analytical division and hire employees in engineering and commercial operations.
The venture capital round follows several commercial-scale demonstrations of the company’s technology. In April, Claros reported at least 99.99% destruction of targeted PFAS compounds in concentrate produced from approximately one million gallons of groundwater at a Minnesota Pollution Control Agency remediation site in Lake Elmo. Read Next in the North’s earlier analysis of the Lake Elmo results.
Founded in 2018, Claros develops technology intended to destroy per- and polyfluoroalkyl substances rather than capture them for later disposal. The company serves industrial manufacturers, environmental remediation firms, utilities and government agencies.