Emerald leads US$10M round in The Water and Carbon Group
Summary
The round includes Ecolab Inc. and a conversion of notes issued in prior investments from Australian-owned Dragonfly Enviro Capital and certain existing shareholders. The environmental engineering company has made significant inroads into the US market in 2024, launching its first operational fixed plant at Bethlehem Landfill Company in Pennsylvania in July.The funds will enable us to fast-track our USA expansion where we are focused on PFAS treatment in complex wastewaters, The Water and Carbon Group CEO Jim Hunter said.PFAS (per- and poly- fluoroalkyl substances) have been used in products like firefighting foam, food packaging and water-repellent fabrics. They are frequently referred to as forever chemicals due to the length of time it takes them to naturally degrade, and they have been shown to bioaccumulate and pose serious health risks. The LEEF System is designed to intercept and remove PFAS from this leachate.PFAS has been getting international attention, with increasing levels being detected in water sources across the globe. The companys success in Australia, and now the US, shows the scalable, global potential of the LEEF System, said Emerald Investment Director Julien Dillon, who will join The Water and Carbon Groups Board.The LEEF System first proved its effectiveness in Australia, where it has been operational for nearly two years at the Shoal Bay Leachate Treatment Plant in Darwin, treating approximately 51 million litres of leachate annually.