Puraffinity — which develops precision technology for the removal of per- and polyfluoroalkyl substances (PFAS) across multiple water treatment applications — has won a US$250,000 award from the Morgan Stanley Institute for sustainable investing. Puraffinity also received a yearlong collaboration with the institute which will help them scale up their solution.
Puraffinity, which is tackling the human health and environmental challenges of these ‘forever chemicals’ has developed a suite of adsorbent materials, exhibiting high selectivity towards diverse PFAS compounds. These are adaptable for multiple applications. The company has a goal to provide one billion people with PFAS-safe water by 2030.
Morgan Stanley CSO and CEO of the Institute for sustainable investing Jessica Alsford said, “Puraffinity’s novel low-carbon green chemistry approach to dealing with ‘forever chemical’ contaminants allows for PFAS capture and the reusing of their adsorbent material.”
The Morgan Stanley award followed Puraffinity’s recent success raising $13.9m in Series A funding. Both the fundraise and the award win will enable the company to scale up its operations, transitioning from a R&D focused organisation to being a full commercial entity. The company also plans to grow its organisational structure, going from 25 to 40 employees by the end of 2024.
“Aligning ourselves with tier 1 companies like Morgan Stanley will be a key accelerant of our mission towards addressing the PFAS challenge,” said Puraffinity CEO Henrik Hagemann. “Beyond the positive impact of securing the award, we are thrilled about the mentorship within the programme and the opportunity to tap into the collaborative to scale up our solutions that tackles one of the critical challenges of our time.”