Fibracast develops and manufactures innovative membrane technologies and systems for advanced water and wastewater treatment, including its FibrePlate membrane. The company serves municipal, industrial, institutional, commercial and developer clients worldwide. Its membranes are used to meet strict regulatory standards, including reuse. Fibracast says its FibrePlate technology increases filtration performance, reduces energy consumption and lowers GHG emissions. The company closed a $44.6 million financing and will use the capital to increase manufacturing capacity, expand its technology platform and build its marketing team. The board will be revamped to reflect institutional participation and to increase the number of independent directors. Fibracast develops and manufactures the FibrePlate hybrid membrane filtration technology, combining features of hollow-fiber and flat-plate membranes to improve robustness, performance, space efficiency and lower cost. The company aims to commercialize FibrePlate across wastewater treatment plants in North America, Europe and Asia and to accelerate commercial-scale production in Ontario. Under the project it planned to lease facilities in Southern Ontario to meet production targets of 750,000 m² of membrane material by 2016 and up to 2 million m² by 2018. Fibracast is a member of the Anaergia group and was founded in 2010 by a team of water-technology veterans. The company expected the project to create 64 new specialized full-time jobs and to maintain 15 specialized full-time positions. The announced funding is intended to accelerate commercialization and scale-up of its manufacturing capacity.

Total raised

$55M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2023