Water / 5 juni 2024

EU backed fund PureTerra Ventures invests in sustainable chemical company with alternative water treatment applications

AMSTERDAM (THE NETHERLANDS) - Sustainable chemical company Sudoc has received capital commitment worth $4 million from water tech fund PureTerra Ventures, and its backer European Investment Fund (EIF), as it prepares to launch its product into the European water treatment market. This follows a recent $6 million capital commitment from Dutch investor Momentum Capital, bringing the total investment so far to $20 million.

•  Sustainable chemical company secures European investment for growth.
•  Solution powers new low chemical cleaning products and helps reduce harmful pollutants in our waters.
• London’s University of Brunel research shows company’s patented catalysts effective in removing pollutants.

Nic Pannekeet, partner at PureTerra Ventures, said: “Sudoc is a company that perfectly aligns with our own business ethos. We want to help develop disruptive water technologies that offer innovative solutions to enable a sustainable water cycle. Its innovative products are designed with the intention of putting chemistry back in balance with nature, and both human and environmental health.”

He added: “By removing harmful chemicals from a range of applications, including wastewater, we believe Sudoc is uniquely positioned to play a decisive role in removing toxic chemicals from our planet. This is why we are investing in Sudoc, because we believe in the company’s potential for helping to make the earth a cleaner, healthier place to live.”
 
Announcing the investment at this year’s Blue Tech Forum, Roger Berry, CEO of Sudoc, said: “It is an incredible honour to receive the endorsement and backing of PureTerra Ventures and their partners at the European Investment Fund. Given the EU’s commitment to lessening chemical burden and improving the purity of our planet’s water resources, we at Sudoc have seen the EU as core to our growth and impact. We look forward to working with PureTerra to bring our TAML chemistry to market.”
 
The investment will help Sudoc takes its sustainable cleaning products to the water treatment and water intensive industrial processes markets. The company has recently opened its first office in Amsterdam, thanks to the funding from Momentum Capital.
 
Sudoc’s patented TAML catalysts mimic natural oxidization processes. Its NEAT brand, designed especially for the wastewater market, helps to make chemical reactions exponentially more efficient while reducing lifecycle costs.
 
NEAT’s potential was recognised last year after winning the BlueTech Forum 2023 Disrupt-O-Meter Award for the water technology with the most disruptive potential. NEAT uses fewer chemicals than comparable treatments, that make systems more efficient, effective, and can save up to 90 per cent of energy costs in electrochemical treatment systems.
 
Peter Coveliers, permanent representative for the EIF to Benelux, said: “The European Investment Fund has partnered with Pure Terra to develop companies and technologies that can fundamentally change our ways of treating water. Changing the way we use chemicals and treat micropollutants neatly fits within the EU Green Deal ambitions, we are excited that Sudoc recognises the EU as their launching platform.”
 
Coveliers added: “We applaud PureTerra’s investment in Sudoc and their efforts to reduce chemical exposure by increasing chemical efficiency and attacking climate change by lessening our need to use heat in many industrial processes. Sudoc is pursuing a worthy mission.”
 
In a series of research projects with Brunel University London, the original TAML catalysts were found to be ‘at least as effective’ in removing synthetic chemicals from wastewater as existing solutions but at a lower cost, on both a financial and energy use basis.
 
Sudoc’s products not only eliminate pollutants that are harmful to the environment, they also make water resources more reusable, helping to meet EU regulation targets on increased water reuse.
 
Paul O’Callahan, founder and CEO of BlueTech Forum, said: “We founded BlueTech Forum to support the efforts of entrepreneurs and investors and to generate innovation in the water space. Sudoc was a new entrant to water just a few short years ago, and has taken great strides, moved fast, learned quick and executed very well. Their leadership team is committed to making a positive impact in water and creating value for clients and investors.”
 
O’Callahan added: “PureTerra is one of the most active and astute water investors out there. I think this is a great fit and very good opportunity for both Sudoc and PureTerra. I am looking forward to seeing what they can do together.”
 
Martijn van Rheenen, strategic director of Momentum Capital, said: “We are pleased to partner with PureTerra in bringing new capital resources to Sudoc, a company we believe will fundamentally change the way we use chemicals in treatment with water.”

 

About Sudoc
Sudoc is an innovative chemical industry startup developing a sustainable but powerful chemistry that can outperform toxic chemicals in many applications. TAML® molecules were invented at Carnegie Mellon University Institute for Green Science by Dr Terry Collins and his research teams based on a process of mimicking how enzymes work in the human liver. These TAML® molecules represent a new class of catalysts that make commonly available oxidants, such as hydrogen peroxide, exponentially more reactive and effective. Sudoc’s first brand, Dot – Dilute Oxidation Technology™ – uses this chemistry to address a series of difficult cleaning problems beginning with mold stains. Sudoc’s second brand NEAT™ – a New Environmental Approach to Treatment – is using this chemistry to treat water contaminants. Sudoc’s mission is to outperform toxic chemicals to remove them from our planet. Led by a world-class team, Sudoc is a business founded on the principle of doing well by doing good. The company has been recognized by the leading chemical industry journal (C&EN), the leading innovation journal (Fast Company), leading environmental non-profit (Biomimicry Institute), and leading water innovation accelerator (Imagine H20). Sudoc is also the recipient of the 2023 Aquatech Innovation Award for Green Chemistry.
 
About PureTerra Ventures
PureTerra Ventures holds a unique position as the exclusive investment firm focused solely on disruptive water technologies. With a deep understanding of the global water sector, we recognize the urgent need to address the water crisis while embracing the vast opportunities for innovative solutions. Leveraging our entrepreneurial experience, extensive network, and unrivaled pipeline of disruptive water technologies, we are ideally positioned to catalyze investment solutions and address water challenges globally. Founded in 2017, our vision of “Clean Water for All” drives our commitment to making a meaningful impact.
 
About European Investment Fund (EIF)
Is a specialist provider of risk finance to benefit small and medium-sized enterprises (SME) across Europe. We are part of the EIB Group. Its shareholders are the European Investment Bank (EIB), the European Union, represented by the European Commission, and a wide range of public and private banks and financial institutions. The EIF carries out its activities using either its own resources or those provided by the European Investment Bank, the European Commission, by EU Member States or other third parties. By developing and offering targeted financial products to intermediaries, such as banks, guarantee and leasing companies, micro-credit providers and private equity funds, the EIF enhances SMEs access to finance,
 
About Momentum Capital
Momentum Capital is an entrepreneurial investor founded by Martijn van Rheenen. In the past 15 years, it has founded several international companies with a combined value of approximately €1 billion (enterprise value). The group employs about 300 people. Momentum Capital is convinced that money can contribute to a better world: it invests in and builds companies that offer solutions in the field of climate change and leisure.
 
About BlueTech Forum
The BlueTech Forum isn't your average industry event. Since 2010, it has been a catalyst for change, convening the brightest minds in the global water sector. It brings together leading water technology companies, visionary entrepreneurs, resourceful investors, and esteemed researchers from top institutions. The annual forum is a breeding ground for groundbreaking ideas. It's where industry leaders network, share market trends and insights, and most importantly, collaborate to find solutions to the world's water crisis. The BlueTech Forum is more than just an event; it's a movement.