Puraffinity, a start-up developing precision technologies which remove toxic “forever chemicals” perfluoroalkyl and polyfluoroalkyl substances (PFAS) from water, has announced ambitious plans to scale, following the appointment of Vincent Caillaud as its new CEO and securing £6.73 million in new investment from BGF.
Mr Caillaud brings exceptional industry experience, with more than 20 years working in the water sector. He was previously CEO of Veolia Water Technologies & Solutions, a global water technology business unit within the world’s largest water, energy and waste management company, Veolia.
Puraffinity said the appointment of Vincent Caillaud as Chief Executive Officer to boost market access for the technology, will allow Puraffinity’s founder Henrik Hagemann to focus on furthering the company’s market-leading technological advantage as Chief Product and Innovation Officer.
BGF’s investment completes Puraffinity’s £16.93 million Series A funding round, following existing funding from Octopus Ventures, HG Ventures, Kindred Capital, and Verve Ventures, as well as materials science sector specialist fund Universal Materials Incubator Co (UMI).
The funding will enable Puraffinity to scale up production of its patented, PFAS-capturing material, “Puratech ®”, to meet exceptionally strong and growing demand across multiple sectors. It will also support the company’s work developing fresh commercial applications that use Puraffinity’s patented materials.
Founded in 2015 by Henrik Hagemann & Gabi Santosa and spun out of Imperial College London, Puraffinity provides a differentiated solution to the world’s ever-growing PFAS problem as its technology consistently and reliably removes PFAS from water, in a much more cost-effective manner compared with conventional treatments.
Puraffinity’s precision technologies place it at the forefront of the fight against PFAS, which have been linked to multiple health issues, including cancer. Developed in the 1940s, PFAS’ molecular make-up makes them resistant to water, grease and oil, meaning they have multiple industrial uses. However, these same qualities make them hard to destroy, hence the name “forever chemicals”, and according to the National Institute of Environmental Health Sciences, they have entered water supplies worldwide, with an estimated 97 percent of people having PFAS in their bodies.
International regulators are examining bans or limits on the amount of PFAS drinking water can contain in an attempt to tackle the estimated €16 trillion annual cost of environmental remediation and healthcare costs.
Puratech, the breakthrough adsorbent media that Puraffinity has developed, can be applied across use cases as it features a customisable plug-in solution that fits into any existing water treatment system. Puratech can also be tailored to capture specific PFAS compounds, ensuring that global users can meet the regulatory standards of different markets.
The high-performing material also adopts a green chemistry technology which, according to Systemiq 2022, results in 60 percent less carbon emissions in its manufacturing than existing petroleum-based products.
Henrik Hagemann, founder and chief product & innovation officer at Puraffinity, said:
“Attracting such a respected water industry figure as Vincent, alongside investment from BGF underlines not only the progress Puraffinity has already made, but the incredible potential of the business. The new management structure will allow me to focus on accelerating our existing technologies and developing new product roadmaps, confident that Puraffinity’s business development is assured with Vincent as CEO.”
Vincent Caillaud, CEO of Puraffinity, said:
“At Puraffinity, we are delighted to join BGF’s growing network of climate tech start-ups as the company continues on its mission of providing PFAS-safe water to the world. With BGF’s expertise in helping start-ups in breakthrough technologies achieve transformational growth, we look forward to meaningfully expanding our commercial capability and extending the global reach of our patented PFAS-removal solutions.”
“Puraffinity is well-positioned to fulfil its vision of bringing PFAS-safe water to one billion people by 2030,” said Luke Rajah, investor at BGF. “BGF is thrilled to work with Puraffinity as it enters a new phase of rapid, global growth, taking a meaningful step towards enhancing water safety. BGF has developed a strong reputation for identifying and providing early-stage support for companies creating technologies which not only have huge potential but offer huge societal benefits.”
