PSP.US, Inc. has acquired the assets of United States membrane company PolyCera, Inc., which in 2018 began the eagerly anticipated commercialisation of its award-winning and highly differentiated organic metal membrane products that combine the robustness of ceramic membranes with the cost efficiencies of polymeric membranes.
The assets include all of PolyCera, Inc.’s physical and intellectual properties. The acquisition was finalised on June 23, 2020. The financial details are not being disclosed.
A Delaware corporation, PSP.US was formed in 2020 and is wholly owned by PSP PTE. LTD. in Singapore. As the largest shareholder in PSP PTE. LTD., leading Chinese membrane company Beijing Daking Eastern Technology Co., Ltd. (Daking) also maintains the largest interest in PSP.US.
“The acquisition of PolyCera is a ‘win’ in many ways – for the company itself, for customers around the world who will benefit from its advanced and unique technology, and for PSP.US and Daking, a company that has concentrated entirely on membrane separation since 2003,” said Mr. Jianbo Wen, CEO of PSP.US and Daking. Mr. Wen has been a leader in actively developing the membrane market in China for more than three decades.
“I want to emphasise that we are committed to PolyCera’s success for the long term. Made up of private investors, PSP.US has a very different approach than that of venture capital firms. We want to assure the market that PolyCera’s growth, resources and ongoing financial stability are our priority,” he added.
PolyCera membranes feature a technology unlike any other membrane product. The membranes will continue to be manufactured in southern California, and in addition, research & development will remain in Los Angeles. The products will continued be marketed under the brand name PolyCera®.