US$ 5 million raised by Israeli membrane developer
Israel's Advanced Mem-Tech, which develops innovative membrane filtration processes used in water treatment, announced on 12 March 2014 the completion of a financing round of close to US$ 5 million.Investors in this round are a US investors group, led by Uzi Halevy, and SEB Alliance, the corporate venture company of Groupe SEB.
Advanced Mem-Tech, founded in 2010 and owned by the Trendlines Group, develops membranes characterized by high flux and low pressure. They are claimed to filter bacteria, microbes and parasites from water at a higher rate than current solutions.
The company claims that its technology uses less energy and a smaller ecological footprint than other technologies available on the market, giving the company a distinct competitive advantage and addressing market segments that were previously inaccessible.
Advanced Mem-Tech's technology is based on the development of a team of leading researchers from the Technion, including Dr Morris Eisen and Dr Rafi Smiiat. It holds a business partnership with The Israeli Water Company through the Watech program, as well as a strategic partnership for the production of polymers with a leading international polymer company.