Several Pittsburgh companies landed large venture capital and grant funding in the millions this month and several made major announcements. Here's a roundup on the news from Acquion Energy, RedZone Robotics, Cohera Medical, ChemImage, Carbon Capture Scientific and Ortho-Tag.
Lawrenceville-based
Aquion Energy, Inc., developer and maker of a next generation, green, non-toxic batteries with a remarkable energy storage capacity, has closed on the final $10 million of a $30 million round of venture financing. Foundation Capital led the round with participation from returning investor Kleiner Perkins Caufield & Byers and new investors Advanced Technology Ventures and TriplePoint Capital.
Aquion is currently selecting a site for a high-volume, state-of-the-art battery factory in the U.S. that will create more than 500 jobs. The battery is based on the research of CMU professor Jay Whitacre.
RedZone Robotics received a $25 million investment from ABS Capital Partners to expand its product line and geographic reach. In addition, the company announced the acquisition of Cleanflow Systems, a major provider of wastewater inspection technologies in New Zealand.
RedZone develops and manufactures wastewater inspection technologies and analytical solutions for municipalities, contractors and engineering companies.
Pittsburgh-based
ChemImage was one of six companies selected to receive up to $1 million in funding from the Ohio Third Frontier Advanced Materials Program to build a manufacturing facility for its patented multi-conjugate filter (MCF) technology, filters that are based on liquid crystal technology and used in a variety of industries.
Cohera Medical has announced that it has received approval for the sale of TissuGlu Surgical Adhesive in Europe. The internal surgical adhesive is used for large flap surgeries, such as abdominoplasties, and will improve recovery by allowing for natural healing.
Carbon Capture Scientific of Upper Saint Clair has received a $2.99 million grant from the Dept. of Energy to develop and advance carbon capture technology. The company is hiring chemical engineers, especially those with a background in chemical absorption.
Pittsburgh-based
Ortho-Tag has raised $1.6 million from angel investors for its electronically-tagged surgical implants. The funding will help cover the cost of the FDA process. The startup employs three people, having recently hired a design engineer.
Source: Acquion Energy, RedZone Robotics, ChemImage, Carbon Capture Scientific, Ortho-Tag
Writer: Deb Smit
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