Low Carbon Accelerator Limited, (the “Company” or “LCA”), the AIM-quoted investment fund specialising in low carbon products and services, announces that it has made a follow on equity investment of CAN$2,307,833 in Vaperma Inc. (“Vaperma”), the developer and manufacturer of advanced gas separation solutions for the clean energy sector.
This was part of a wider CAN$6.9m funding round, with the balance including investment from Volvo Technology Transfer Corporation, Emerald Technology Ventures, BDC Capital and Fonds d'investissement en developpement durable ('FIDD'). These amounts were agreed at the time of the initial investment of CAN$4,482,167 by LCA in November 2007.
Vaperma used the initial funding to successfully commercialise its Siftek™ membrane-based ethanol dewatering system and expand its commercial operations.
Dr. Stephen Mahon, Chief Investment Officer at Low Carbon Investors, who sits on the Board of Vaperma said: “Vaperma has made its first sales and has built excellent channel partnerships with leading players in the biofuels industry. It will use this additional funding to finance further opportunities in its sales pipeline and to develop and commercialise second generation membranes for use across a range of new applications and industries.”
In June 2008, Vaperma earned the Frost & Sullivan North America Technology Innovation of the Year Award for its Siftek™ system. The technology offers potential energy savings of up to 7.0 cents per US gallon of ethanol when used in the ethanol dewatering process, simultaneously lowering the carbon footprint and enhancing the cost effectiveness of ethanol production.