Grainnet

Vaperma Closes $21.5 Million Financing Round, Adding Low Carbon Accelerator and Volvo Technology Transfer as New Investors

Quebec City, QC—Vaperma Inc., a provider of advanced gas separation solutions aimed at reducing energy costs and carbon footprint, announced Nov. 7 it has received $21.5 million in a second financing round.

The funding is led by Low Carbon Accelerator Limited (LCA), a Guernsey-based investment company created to invest in a portfolio of fast growing low carbon businesses, with participation by Volvo Technology Transfer Corporation (Volvo) and all institutional Vaperma investors—Emerald Technology Ventures, BDC Capital and Fonds d'investissement en développement durable (FIDD).

The company will use proceeds from this financing to commercialize its Siftek (tm) membrane-based ethanol/alcohol dewatering system, to expand all corporate operations and to accelerate the growth of its membrane business.

"Addition of LCA and Volvo to our existing investors completes our exceptional experienced investment group and further validate our commitment to become a reliable long term technology provider in the biofuels, biogas and natural gas markets," said Claude Letourneau, President & CEO of Vaperma.

"Combined with the excellent market perspective in fuel ethanol and natural gas, our company is now ready to aggressively expand its sales and marketing activities worldwide," Letourneau added.

Vaperma has developed a breakthrough solution to remove water from ethanol blends by entirely replacing rectification column and/or dehydration unit such as molecular sieve and extractive distillation.

Conventional ethanol/alcohol distilleries are known to consume huge amounts of steam.

Vaperma's Siftek(tm) system is being tested successfully for over a year in an operating corn-based ethanol plant in Canada and offers North American grain ethanol producers an immediate return on investment with substantial natural gas or fuel savings.

The application of Siftek(tm) technology will be beneficial to the Brazilian sugarcane alcohol producers as it provides a cost effective method to increase bio-electricity revenues from the significant reduction of steam consumption.

Dr. Stephen Mahon, Chief Investment Officer at Low Carbon Initiative said: "The success of this financing is a testament to the quality of the management team and the exceptional market opportunities that exists in the biofuels and natural gas markets. This investment represents an important addition to our clean energy portfolio."

As per the terms of investment with LCA, Dr. Mahon will be joining the board of Vaperma.

For more call 418-521-3770.