PowerTech Water has Successful Series B Funding

Kentucky-based startup PowerTech Water announced the close of their successful series B venture capital round led by HG Ventures. This funding will go towards meeting the rising demand for its sustainable industrial water treatment and expand operations in Lexington.

This water infrastructure company has developed innovative methods for heavy metal removal in wastewater and process water systems. These developments include their ElectraMet, which uses chemical-free carbon electrode technology to treat and purify industrial wastewater. This technology can reduce the labor-intensive, chemical-based water treatment systems which are known to produce massive quantities of waste. ElectraMet does not require chemicals or membranes and has a higher energy efficiency than traditional  systems. 

In May, PowerTech was awarded a Small Business Research and Development (SBIR) Phase I grant to focus on selective recovery of copper from industrial wastewater. Their systems are applicable across a variety of industries including mining and municipal water treatment. With this variety in use, PowerTech constantly works towards innovating selective treatment capabilities to better suit individual needs. 

“We are excited to support Dr. Lippert and his team as they scale their business and establish themselves as a market leader in on-site water treatment”, said Ginger Rothrock of HG Ventures. “This team and technology solution are positioned to deliver automation, sustainability, and efficiency to a sector where innovation has lagged.”

Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Recent Posts