Deals

Vaperma, for removing water from ethanol, raises CDN $21.5M

Vaperma is a Quebec City, Canada based company that makes dewatering systems for ethanol producers.

Water is a by-product of ethanol production, and must be removed before the product is finished. Vaperma’s specialized membranes can selectively drain the water away, a method the company says is cheaper than distillation columns or chemical dryers.

The CDN $21.5 million funding (about USD $23.1 million) was led by Low Carbon Accelerator Limited. Also participating were Volvo Technology Transfer Corporation, BDC Capital, Emerald Technology Ventures, and Fons d’investissement en developpement durable (FIDD).