Swedish Cleantech Innovator Secures €22.5 Million EIB Funding to Combat PFAS Water Contamination

(IN BRIEF) Swedish cleantech company Chromafora has secured a €22.5 million loan from the European Investment Bank (EIB) to advance its SELPAXT technology, which removes harmful PFAS chemicals from water. Backed by InvestEU, the funding will support the deployment of container-based water-treatment units across Europe between 2024 and 2028, addressing significant health and environmental risks posed by these persistent pollutants. Chromafora CEO Johan Seijmer highlighted the loan as a validation of their innovation and a key driver for expansion. The project aligns with EU environmental goals, promoting clean water and sustainability under the European Green Deal.

(PRESS RELEASE) LUXEMBOURG, 20-Dec-2024 — /EuropaWire/ — Swedish environmental-technology pioneer Chromafora has received a €22.5 million loan from the European Investment Bank (EIB) to accelerate the development and deployment of its cutting-edge water-treatment technology designed to eliminate per- and polyfluoroalkyl substances (PFAS), commonly referred to as “forever chemicals.”

This financing, provided under the InvestEU program, aims to help Chromafora commercialize its innovative solution and establish water-treatment units in various European locations between 2024 and 2028. The initiative aligns closely with the EU’s environmental sustainability objectives and ongoing efforts to ensure access to clean water.

PFAS, a group of highly persistent pollutants found in water, soil, and food, present a serious threat to both the environment and human health. Prolonged exposure to these chemicals has been associated with significant health risks, including cancer, reduced fertility, and developmental issues.

“Supporting technologies that address critical environmental challenges is a key priority for the EIB,” remarked Thomas Östros, Vice-President of the EIB. “Chromafora’s innovative solution exemplifies how cleantech can advance public health and sustainability while tackling pressing pollution issues.”

Chromafora’s SELPAXT technology employs a combination of advanced filtration and proprietary chemical processes to remove even the most challenging PFAS variants, such as short-chain compounds. Compact and container-based, the system is designed for rapid deployment and is targeted at industrial users, including landfill operators in Belgium, Sweden, and other European countries.

The EIB loan, structured as venture debt, provides Chromafora with growth-focused financing without diluting its ownership structure. Established in 2010, the company is leveraging this funding to close the gap to full commercial readiness, expand its market presence, and attract additional investment.

“The EIB’s support is not only a validation of our technology but also a crucial catalyst for scaling our operations across Europe,” said Johan Seijmer, CEO of Chromafora. “We’ve already set up units in Belgium and are preparing to launch in additional European markets where the need for PFAS wastewater treatment is urgent.”

This project, backed by InvestEU, underpins the European Green Deal by advancing clean-water solutions and supporting the transition to a circular economy. Chromafora’s efforts align with EU legislation aimed at improving water quality and reducing pollution, making it a vital player in Europe’s environmental sustainability goals.

Background information

EIB Group

The EIB finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030, as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

The EIB Group signed nearly €3 billion in financing for 32 projects in Sweden last year, a record high, with more than three quarters of these commitments channelled to climate action and environmental sustainability investments. For more details about our projects in Sweden and their impact, please visit our country page for Sweden.

Chromafora

Chromafora is an innovative cleantech company with unique patented and patent-pending water treatment technologies based on proprietary chemistry: SELPAXT and SELMEXT. Both technologies focus on removing contaminants while reducing waste through selectivity. SELMEXT targets the removal of heavy metals, while SELPAXT eliminates both short- and long-chain PFAS substances from water streams. The SELMEXT process also contributes to the conservation of critical raw materials by enabling the recovery and recycling of valuable metals, such as gold and other precious resources, from waste.

About SELPAXT

The PFAS removal efficiency of the SELPAXT technology has been confirmed in studies conducted by the research institute RISE and through evaluations at a number of landfill sites. Results show that SELPAXT removes over 90% of both long and, otherwise difficult-to-capture, short PFAS chains from water. The removal process usually occurs upstream, before PFAS contamination reaches water bodies. The SELPAXT technology combines ultrafiltration with proprietary chemical processes, making it particularly well suited for complex water streams with high PFAS concentrations.

Media Contact:

Thomas Eriksson
t.eriksson@ext.eib.org

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SOURCE: European Investment Bank