Veralto, a global leader in essential water and product quality solutions dedicated to Safeguarding the World's Most Vital Resources™, announced an investment of approximately $15 million to establish a minority interest in Axine Water Technologies, a leading provider of electrochemical oxidation technology for contaminant destruction.
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 PFAS.
Veralto's Water Quality segment provides one of the most comprehensive portfolios of water analytics and advanced water treatment solutions to help customers manage, test, treat, and protect our 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.
"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," said Jennifer L. Honeycutt, President and Chief Executive Officer 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."
"We have a history of treating wastewater, allowing our clients to focus on their valuable core products. 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" said Mark Ralph, CEO of Axine Water Technologies.
