Greentech Lead America: Pasteurization Technology Group (PTG), which has developed the wastewater disinfection process that creates renewable energy, has closed $5 million in Series A financing led by EIC Ventures, a previous investor in PTG, and joined by Kennington.
EIC Ventures is led by David Dubé, CEO of Canada-based Concorde Group and current board member of PTG. Lance Tendler, CEO of Kennington, will join PTG’s board of directors.
The growth capital will be used to expand PTG’s sales and field engineering operations to address the substantial and growing customer demand for its technology with customers in the agricultural, food, and beverage sectors.
“This additional investment enables us to accelerate our plans for market expansion,” said Greg Ryan, co-founder and CEO of Pasteurization Technology Group. “In an era of increasing water and energy costs, our technology is in high demand from customers who want to significantly reduce their water and energy costs while meeting their goals for sustainability.”
David Dube , managing director of EIC Ventures and CEO of Concorde Group, said, “We believe that PTG’s technology offers the most efficient and cost-effective solution to industrial and municipal customers globally. As experienced VC investors across many industries, we continue to be impressed by PTG’s proven, capital-efficient business model.”
PTG’s wastewater disinfection technology is a timely wastewater treatment solution for cities and businesses, many of which are wrestling with aging infrastructure that is operating at, or even above, capacity.
PTG’s patented technology is the first and only technology to combine wastewater disinfection with the generation of renewable energy. PTG’s integrated systems can use available waste by-products (such as biogas or biomass), or natural gas, to power a turbine or engine that generates electricity.
Wastewater treatment is facing increasingly stringent water-quality regulations and rising energy costs, driving demand for cost-effective and sustainable solutions that enable the recycling of water.
After emerging from stealth mode at the beginning of 2012, PTG experienced a year of noteworthy successes. The company secured a contract with the California town of Graton to replace its chlorine-based wastewater treatment system with PTG’s patented wastewater disinfection system.
The company also completed a successful evaluation phase with Ventura Water. Ventura Water plans to transition its existing wastewater treatment plant to PTG’s safe, non-toxic, sustainable technology, replacing the chlorine-based disinfection process currently in use at the Ventura Water Reclamation Facility.
PTG also moved to larger headquarters space in San Leandro in the San Francisco Bay Area, and hired key staff in engineering and sales to service increasing customer orders.
PTG’s systems are significantly more cost-effective and energy-efficient than other disinfection methods. PTG’s technology is sustainable since it does not require toxic chemicals such as chlorine, or costly electrical power and expensive UV lamps. As a result, PTG’s systems fit a broad range of applications in both the municipal and industrial market sectors.