HAYWARD, Calif., Jan. 20, 2015 /PRNewswire/ -- Microvi Biotechnologies Inc. announced today that it has successfully closed Series B funding that will help accelerate the company's growth as it continues commercial projects utilizing the company's innovative solutions in the water, wastewater and biobased products industries.
SKion GmbH, the investment firm of German entrepreneur Susanne Klatten (BMW, ALTANA, SGL), acquired a minority stake in Microvi. The firm invests in cutting-edge technology in sectors such as material sciences and water.
"We are excited to be working with SKion, an innovative and forward-thinking group that shares our vision of bringing Microvi's transformative, sustainable biological solutions to the market to solve some of the world's most pressing challenges," said Fatemeh Shirazi, CEO of Microvi.
Microvi's solutions are based on its proprietary MicroNiche EngineeringTM (MNE) Platform, where synthetic fit-for-process biocatalysts enhance the performance, productivity, and efficiency of engineered biological systems, significantly improving the economics of industrial biological processes.
"With the acquisition of a stake in Microvi, we add a unique platform technology to our portfolio that can enhance the performance of many of our other water sector investments. We see the clear potential for this innovative technology to fundamentally change the way we do biological water and wastewater treatment," said Dr. Reinhard Hubner, Investment Manager at SKion GmbH.
As noted in Forbes magazine, Microvi is an emerging industrial biotechnology company whose solutions seek to revolutionize the way the world uses applied biology. The company has multiple commercial installations around the world, producing clean drinking water and treating wastewater with a superior value proposition compared with existing technologies.
Microvi has developed novel biocatalysts for sewage treatment, metals removal, organics removal, ethanol production and several other water and bio-based products. The company works with a range of industrial, government, and academic partners to utilize its solutions and push past the limitations of conventional methods.
Microvi is a leading biotechnology company that develops, manufactures, and commercializes innovative biocatalytic technologies for water, energy and chemical industries. Microvi's pipeline of solutions, created using its proprietary MicroNiche Engineering™ platform, enable cost-effective, energy efficient and waste free bioprocesses that deliver higher performance than conventional methods. To learn more, please visit www.microvi.com.
SKion GmbH is the investment company of German entrepreneur Susanne Klatten. Via SKion, Mrs. Klatten owns 100 percent of ALTANA AG (specialty chemicals). In addition, with roughly 28 percent of the shares, SKion is the major shareholder of SGL Carbon SE (carbon products and materials). Furthermore, SKion owns shares in Nordex SE (wind energy), AVISTA OIL AG (used oil recycling) and Gemalto N.V. (digital security). In the water sector, SKion is a shareholder of Paques B. V. (anaerobic industrial waste water treatment and biological gas desulphurization), EnviroChemie GmbH (industrial water and waste water solution provider), ELIQUO WATER GROUP GmbH (municipal water and waste water solution provider), Miranda A.S. (decentralized, energy-efficient waste water treatment solutions) and Evodos B.V. (advanced separation technology).
Kevin Kidder, Director of Communications & Marketing, Microvi Biotechnologies
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SOURCE Microvi Biotechnologies, Inc.