Arisdyne Systems, a Cleveland, Ohio-based manufacturer of alternative fuel technologies, has secured $5.3 million in first round funding. The proceeds will allow the firm to be independently spun off from Five Star Technologies, its parent company.
No investors were disclosed in the deal; previous investors include CTTV Investments, Early Stage Partners, Industrial Technology Ventures, Morgenthaler Ventures and Reservoir Venture Partners.
Arisdyne harnesses the power of hydrodynamic cavitation, a process in which vapor cavities (bubbles) form in a turbulent fluid under conditions of reduced pressure, to make ethanol, biodiesel and other biofuels. Its Controlled Flow Cavitation (CFC) systems are able to control the properties of these cavities to produce high-quality biofuel emulsions and dispersions from a mix of fluid and feedstocks.
The firm claims its cavitation technology is very energy-efficient and has a high conversion efficiency. The systems have a simple design and can easily be scaled up for mass production. Arisdyne will use some of its new capital to expand its research into non-food feedstock biofuels, coal-to-liquid and fuel cell technologies. It will also work to optimize its technology to obtain higher yields and speed up production.
The company received a $1 million grant in March from Ohio’s Third Frontier Alternative Energy program.