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Chromafora, a Swedish environmental technology company, has secured €22.5 million in financing from the European Investment Bank (EIB) to advance its efforts in removing PFAS (per- and polyfluoroalkyl substances) from water. PFAS, commonly referred to as “forever chemicals,” are widespread pollutants linked to significant environmental and health risks. The funding will support the development and deployment of Chromafora’s SELPAXT technology, which uses advanced filtration and proprietary chemical processes to address PFAS contamination. The company plans to install water-treatment units across Europe, particularly in Belgium and Sweden, to cater to industrial clients such as landfill operators.
Chromafora, established in 2010, focuses on developing advanced solutions for water treatment. The company specializes in removing pollutants such as PFAS (per- and polyfluoroalkyl substances) and heavy metals from water using proprietary technologies like SELPAXT and SELMEXT. SELPAXT integrates advanced filtration and chemical processes to effectively address PFAS contamination, particularly in complex water systems.
Chromafora’s technology is designed for industrial applications, such as at landfill sites, and aims to address the growing challenge of water pollution across Europe. The company’s efforts align with broader environmental sustainability initiatives, particularly in water quality management and pollution control.
The credit from the EIB, the European Union’s lending arm, will support the development and deployment by Chromafora of water-treatment units at sites across Europe between 2024 and 2028.
PFAS are highly persistent and have been detected in water, soil and food across Europe, creating a serious environmental challenge. PFAS contamination poses significant risks to human health, with long-term exposure linked to cancer, decreased fertility and developmental disorders.
“This operation highlights our commitment to supporting clean-water technologies that benefit both the environment and public health,” said EIB Vice-President Thomas Östros. “Chromafora’s innovation addresses a critical challenge while contributing to Europe’s transition to sustainable water systems.”
Chromafora’s technology, known as SELPAXT, combines advanced filtration with proprietary chemical processes to remove PFAS, including the short-chain variants that are particularly difficult to treat. The company has devised compact, container-based water-treatment systems that are designed for quick deployment and that will serve primarily industrial customers such as landfill operators in Belgium, Sweden and other European markets.
The EIB loan takes the form of venture debt, a relatively flexible form of financing aimed at supporting company growth without diluting ownership. Chromafora, founded in 2010, is seeking to bridge a funding gap to full commercialisation, expand its reach and attract further investment.
“The EIB loan is a fantastic verification of our technology, as well as an enabler for faster expansion in Europe,” said Chromafora CEO Johan Seijmer. “In addition to Sweden, we have already established units in Belgium and will soon also establish in more European markets. In both these countries and the neighboring ones, there is a high demand for treating wastewater from PFAS.”
The financing is backed by InvestEU and aligns with EU laws on water quality and pollution control, supporting the European Green Deal and transition to a circular economy.
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Read the orginal article: https://arcticstartup.com/chromafora-raises-e22-5m/
