Oasys gets $10 million capital

Oasys, the Yale University forward-osmosis desalination start-up company, says that it has secured US$ 10 million in venture capital funding for production of a commercial unit in two years time, says the Boston Globe.

The financing was led by Flagship Ventures of Cambridge, Advanced Technology Ventures of Waltham and Draper Fisher Jurvetson of Menlo Park, Calif. The money will be used to develop a product aimed at markets looking to treat between 1,000 and 5,000 m³/d of water.

Oasys estimates the treatment cost will be US$ 0.30-0.50/m³ using its technology, compared with US$ 0.90-1.00/m³ for methods that rely on reverse osmosis.

See also Yale team claims forward-osmosis success