Microvi Biotech Inc., a leader in clean and waste-free water treatment technologies, today announced the completion of its first round of equity financing. The company plans to use the proceeds from the Series A financing to expand product development, grow the company’s team, enhance the company R&D pipeline, and pave the way for the launch and commercialization of new, one-of-a-kind water technologies. The specific terms of the financing were not disclosed.
The founder of the company Dr. Fatemeh Shirazi, is an expert in biotechnology and cleantech with over 19 years of experience in the water industry. An invited speaker at cleantech conferences around the country and a technical reviewer for the NIH and the EPA, Dr. Shirazi leads an effort to completely rethink the way the world cleans water. Currently, Dr. Shirazi serves as the company’s CEO, Chief Technology Officer, and Chairperson of the Board of Directors.
“Microvi Biotech Inc. is funded by a distinguished group of individual investors with first-hand cleantech experience,” said Dr. Fatemeh Shirazi. “The company’s award-winning clean technologies are well-positioned to meet and exceed industry and customer demands in areas such as performance, cost-effectiveness, simplicity, and overall sustainability.”
Microvi Biotech Inc. began its operations as a research and development company in the field of environmental biotechnology and water purification. The company is now rapidly transitioning into its commercialization phase, having demonstrated its successes by the development of clean technologies targeting numerous major classes of water pollutants. Microvi Biotech’s technology portfolio encompasses all areas of the water industry, including small and large industrial wastewater, drinking water, surface water, groundwater, and municipal wastewater.
Apart from Dr. Shirazi, the company’s Board of Directors includes C. Robert Kidder, Michael Dimitriou, and Perry Solomon. Mr. Kidder, who is the chairman of the board at Chrysler Group LLC and also serves on the boards of Morgan Stanley and Schering-Plough, commented: “Microvi has game-changing technologies that save customers money while efficiently cleaning water. Investing in this technology is about helping build the next generation of water treatment. This current investment allows Microvi to demonstrate its technologies to customers, build a strong organization, launch a commercial model with world class partners, and prepare the business to achieve a global scale.”
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