WembraneX Secures €350,000 Investment from Progress Tech Transfer Fund

WembraneX, a startup specialized in technological membranes for the purification and treatment of municipal and industrial water, has secured a 350,000 euro round which was entirely subscribed by Progress Tech Transfer, the fund dedicated to the valorization of technologies in the field of sustainability, launched in January 2019 by MITO Technology.

WembraneX is a project born from the National Research Council (CNR)

This year, WembraneX was transformed into a real company, after having obtained in 2020 a Proof of Concept funding of 250,000 euros from the same Progress Tech Transfer fund.

WembraneX has developed Saftek, a patented cutting-edge technology designed to dramatically reduce biofouling, a phenomenon that compromises the efficiency of water treatment plants. This innovation allows for process optimization, significant reduction in operating costs and improved performance in complex separations, with applications in the food, beverage, textile, pharmaceutical and chemical industries .

“We are strongly committed to developing solutions that address the pressing needs for efficiency in water treatment and industrial separations. The support of Progress Tech Transfer is essential to accelerate the diffusion of our innovations to the market,” said Simone Arizzi, founder and CEO of WembraneX.

And Andrea Basso, CTO of MITO Technology, added: “WembraneX technology represents a breakthrough in the sector, offering an environmentally friendly and highly efficient solution for multiple industrial applications. We are excited about the growth of this company, which started from a Proof of Concept project in 2020 and has developed an extremely scalable innovative technology, capable of improving performance in many industrial sectors, while promoting sustainability. WembraneX is a clear example of how we apply our investment strategy: starting from an innovative idea and supporting it at every stage of its development.”

After the closing, last December, of the investment period of the Progress Tech Transfer fund, MITO Technology announced the first closing of the collection of the second fund , called MITO Tech Ventures and dedicated to climate tech.

The new fund has raised commitments for 55 million euros on a total collection target of 90 million and a hard cap set at 120 million . This first closing was subscribed by the two anchor investors CDP Venture Capital sgr, through the Technology Transfer Fund, and FEI (European Investment Fund).

IREN spa , a leading Italian player in the multi-service sector, Inarcassa and various family offices, such as Marimo Holding , the family office of the Di Amato family , the family office of Luca Larcher and the family office of Mirna Marovic , also participated in the collection.

The fund aims to make approximately 25 investments in technologies aimed at reducing carbon dioxide emissions in the energy and environmental fields, in the construction of areas and environments, in mobility and in heavy industry. Investments will be concentrated mainly in Italy, with attention also to some selected European countries.

The fund is classified as art.9 according to the SFDR regulation and the carried interest reserved for the investment team will also be linked to the achievement of quantified environmental impact objectives.

MITO Technology was founded in 2009 by Francesco De Michelis (CEO) and Massimiliano Granieri, joined today by partners Andrea Basso , Alberto Calvo and Michele Costabile . In 2019 it raised 42 million euros for the first Progress Tech Transfer fund which focused on sustainability technologies, with FEI and CDP as anchor investors. Leonardo Massa and Valentina Sesti then joined the team.

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(Featured image by Ant Rozetsky via Unsplash)

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