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Advanced Hydro Inc., an Austin Based Startup, Raises Seed Capital to Commercialize Anti-Fouling Dopamine Technology for Water Filtration Membranes
AUSTIN, Texas --(Business Wire)--
Advanced Hydro Inc., an Austin based startup, today announced that it has successfully raised US$0.5 million seed investment from Quercus Trust and 21 Ventures. It has also concluded licensing terms for Dopamine Technology from The University of Texas. Now, the company is in the process of setting up pilots to demonstrate the value of this technology in the field.
"Dopamine technology has shown great potential for alleviating fouling in membrane based water filtration systems," said Prof. Benny Freeman, the Kenneth A. Kobe and Paul D. & Betty Robertson Meek and American Petrofina Professor of Chemical Engineering at The University of Texas at Austin. This versatile technology allows modification of all wetted parts in a module, including membranes, housing, and spacers by simply flowing a specialized solution through the module. Lab data show 30-50% improvement in flux of commercial membranes used to purify highly fouling feed streams.
"We are very excited to have the opportunity to commercialize this promising cost reduction technology, as the need for clean, easily accessible and affordable water has been on the rise," said Dr. Dileep Agnihotri, CEO of Advanced Hydro Inc., "and I am very delighted to have Quercus Trust and 21 Ventures as investment partners. Their commitment to support early stage, disruptive, clean technologies from startup to revenue generating successful companies has been a unique and successful business model."
"Advanced Hydro Inc., with an exciting technology for addressing fouling problems in membrane based filtration systems, provides a very exciting addition to our portfolio," said David Anthony, managing partner for 21 Ventures. "Demand for clean and affordable water is growing tremendously and the dopamine based anti-fouling technology provides a solution for a well known problem in the industry and it fits in our portfolio of CleanTech companies."
About Advanced Hydro
Advanced Hydro Inc. is a Delaware registered corporation, with operational office based in Austin, established in Dec. 2008. For more information on Advanced Hydro and its differentiated advantage of the dopamine based anti-fouling technology, please email at info@advancedhydro.net or visit www.advancedhydro.net
About the Quercus Trust
The Quercus Trust of Newport Beach, California is recognized as one of the leading CleanTech venture funds in North America with strategic investments in the clean technology areas of solar, water, bio-fuels, wind and batteries. The Quercus Trust is known to provide more value than just funding and takes a long-term view of invested capital leveraging its industry expertise and relationships for the benefit of its portfolio companies.
About 21 Ventures
21Ventures, LLC is a venture capital fund focusing on the technologies and ideas that will dominate the 21st century. Its fields of expertise include clean technologies, mobile software and security. 21Ventures invests primarily in early-seed companies possessing proprietary technologies poised to change the market landscape.
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