Veralto invests in Axine Water Technologies

Veralto Corporation, a Waltham, Massachusetts-based provider of water and product quality solutions, has announced an investment of approximately $15 million to establish a minority interest in Axine Water Technologies, a Vancouver-based wastewater treatment solutions provider.

"Our Water Quality operating companies have a proven track record of developing and commercializing technologies that help customers detect and destroy emerging contaminants. A key part of our growth strategy in water quality is developing fit-for-purpose solutions to help our customers meet complex challenges," says Jennifer L. Honeycutt, president and CEO of Veralto. "We believe Axine's electrochemical oxidation technology provides a promising solution for difficult-to-treat organic contaminants, and our strategic partnership is aligned with our commitment to helping deliver clean water."

Axine's ElectraClear solution provides simple, safe, efficient and cost-effective destruction of organic contaminants in pharmaceuticals and industrial wastewater, including long and short-chain per- and polyfluoroalkyl substances (PFAS), the company says.

Veralto's Water Quality segment provides a comprehensive portfolio of water analytics and advanced water treatment solutions to help customers manage, test, treat and protect the global water supply, from municipal treatment facilities and industrial processes to lakes, rivers, watersheds and oceans.

The strategic collaboration with Axine builds upon Veralto's diverse portfolio of water solutions for customers. Veralto's minority position in Axine includes a commercial agreement in North America with the company's Trojan Technologies business aimed at increasing Axine's customer reach, expanding its presence in municipal and industrial markets and scaling its technology.

"We have a history of treating wastewater, allowing our clients to focus on their valuable core products,” says Mark Ralph, CEO of Axine Water Technologies. “I am excited about Verlato's investment and partnership, which we believe will help position Axine to grow in municipal and industrial markets and deliver greater value to customers.”