Emefcy Closes Funding Round Led By True North Venture Partners
By: Michal Chesla, Blog ManagerIsraeli efficient wastewater treatment start-up Emefcy has announced the closing of its third funding round led by True North Venture Partners, with participation by existing investors: Pond Venture Partners, Plan B Ventures, Israel Cleantech Ventures and Energy Technology Ventures: a joint venture of GE, ConocoPhillips and NRG Energy.
CEO Eytan Levy did not share details of the investment, but industry sources estimate it to be in the millions of dollars.
Levy is quoted in the company’s press release as saying: “We are very pleased with True North joining Emefcy. True North adds outstanding experience and know-how in successfully building technology-based companies. This experience compounds with that of our current investors to further Emefcy’s corporate development”.
“The Emefcy team brings breakthrough technology, successful wastewater market experience and outstanding entrepreneurial drive; a combination we find compelling. We expect their products to have global impact in a large market.” said Mike Ahearn, True North’s Managing Partner.
Emefcy is a rising star in the cleantech map, having won a number of prestigious international awards and recognitions:
- Emefcy was one of ten companies selected to be “2012 New Energy Pioneers” at the fifth annual Bloomberg New Energy Finance Summit in New York City.
- Emefcy was on both the 2011 and 2012 “Global Cleantech 100” list by the Cleantech Group, which lists the upcoming private companies to watch in the global cleantech arena.
- Emefcy was chosen for the 2012 Artemis Top 50 Water Tech Listing, which identifies the most promising advanced water technology companies worldwide.
- Emefcy was one of six finalists in the Water Tech Competition of the New England-Israel Business Council.
Emefcy is dedicated to creating new energy efficient technologies for wastewater treatment in municipal and industrial applications that enable transformation of wastewater treatment plants from cost to profit centers by addressing the two most costly operational expenses: energy and sludge.
For the full company press release click here.
