Therma-Flite on Friday said that it raised USD7.5 million in funding from Toronto-based private equity firm XPV Capital Corporation.
Therma-Flite is a clean-technology company that provides municipal waste water management systems and resource recovery technology to oil and gas corporations and other industries. Therma-Flite's patented technologies convert municipal sewage sludge into a soil amendment and/or renewable energy feedstock and prevent it from contaminating drinking water.
In a statement, the clean-technology company said the USD7.5 million investment would enable them to introduce new products within their core markets. It could also help them expand their plants in Benicia, California, El Dorado and Arkansas.
According to a profile by Bloomberg, XPV Capital is a private equity and venture capital firm focusing on early-stage, middle market, emerging, growth and late-stage investments in middle market companies.
XPV Capital has invested in water companies including BCR Environmental, FilterBoxx Water & Environmental and ENBALA Power Networks. Its accumulated investments amount to at least USD30 million, a CrunchBase profile read.
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