Axine raises $8 mln Series B round led by Japan's Asahi Kasei

Axine Water Technologies Inc has secured $8 million in a Series B financing. The round, which brings the company's total funding to $15.7 million, was led by Japanese chemical company Asahi Kasei Corp. It was joined by existing investors Chrysalix Energy Venture Capital, BDC Energy Venture Capital and Roda Group. Vancouver-based Axine provides low cost, chemical-free solutions for treating ammonia and toxic organics in industrial wastewater. It said the funds raised, and the partnership with Asahi Kasei, will help scale-up commercial deployment, develop new applications, and expand the company's customer base.

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