ABSMaterials was featured in Crain's Cleveland Business this week for our recent growth and the closing of our Series B financial round! We raised over $4M to be put towards manufacturing improvements and expansion into new markets throughout Asia.
Fast growing NE Ohio maker of Osorb ® advanced materials
Wooster, OH — November
21, 2013 ABSMaterials Inc. (www.absmaterials.com)
and RKS Ventures, a strategic
investment group based in Nashua, NH have completed a Series B Financial Round with the issuing of over $4M in new preferred stock.
The round is joined by existing investors
Harris and Harris Group and a number of individuals. The funding will be used for market expansion, manufacturing
improvements and expansion
into new markets in Asia.
Osorb® products can remove thousands
of volatile organic
pollutants from water. Systems using Osorb today
are treating water for industrial remediations, oil and gas process sites and surface
water systems needing to clean contaminants and nutrients.
Mr. Stephen Spoonamore, the company cofounder
said: “ABSMaterials has commercially fielded
Osorb in a number of multi-Billion dollar markets with very limited resources.
has deep experience in taking industrial systems and ramping
them quickly into asian markets. We are thrilled to have RKS join the team.”
Dr. Kedar Gupta, with RKS Ventures
and CEO of Advanced RenewableEnergy, Inc, founded and built GT Solar
from a startup
into a publicly traded, dominant equipment
solution provider for the solar silicon industry, and founded and developed ARC Energy (www.arcenergy.com)
into a leading maker of furnace technology solutions for synthetic
sapphire used in LED markets. Dr. Gupta said:
“Our group was looking at a large number of new opportunities in emerging technology. We view ABSMaterials as having more potential, in more markets than any previous technology we have worked with.”
Scientific review group observing BioMix-Osorb LID stormwater system (notice dumpsters in the background).
Stormwater running off from this dumpster pad is converted to potable water and thriving
plant life by ABSMaterials Osorb Solutions. This site is a National Science Foundation SBIR study site.
ABSMaterials was founded in 2009 and received $2.6M in A-round in 2010 funding from North Coast Angel Fund,
Harris and Harris Group and Vivero Group. The company’s customers
include global engineering
firms URS and Tetratech, several oil and gas firms and a cosmetics company now in human testing.
Dr. Paul Edmiston, the inventor of Osorb, cofounder
and CSO of ABSMaterials said about the technology; “The company is now making over a ton of our advanced materials
every month, and still we continue to innovate and improve the materials’ capabilities, and manufacturing processes. ABS has a number of extremely exciting developments underway
to remove trace pesticides and endocrine mimics from the water of major cities on three continents.
This is a very large and a very difficult problem
for other technologies to handle.”
Inc. is dedicated to applying
advances in 21st century materials
science to the challenges created by 20th century industrial processes
and chemistry. The company’s advanced
water treatment systems use patented
Osorb® absorbent glass materials
to remediate oils, solvents and other VOCs in water without negative
environmental effect. ABSMaterials is a privately
held company headquartered in Wooster, OH with projects underway in the US, Canada, Australia, India and Korea.
Take a look at our new Google Map, which went live this week, documenting all of our ongoing Stormwater Projects worldwide.
Clicking each point will pull up a blurb about that particular stormwater solution site, detailing location, status, contaminants removed, gallons of water treated annually, and links to additional information (if available). The map features Osorb Bioswale, Permeable Paver System, Engineered Leachate Treatment System, and Osorb-Foam sites throughout The United States (OH, PA, NC, NM, and FL) and even Australia.
The Osorb Stormwater Projects Map and additional information about Osorb Stormwater Treatment can always be found on our Stormwater Solutions
ABS is working to incorporate Osorb's capacity to both gather oils and/or be pre-loaded with fragrances or actives into cosmetic and personal care products.
One of those efforts is now moving toward commercial market and industry interest has increased for additional products.
If you are a subscriber to Cosmetics & Toiletries - Science Applied,
you should open your Oct 2013 issue to p.754, where Dr. Edmiston is the author of excellent article documenting the range and capacities of Osorb for personal care products. Cosmetics & Toiletries is a leading applied science magazine for this global industry. If you are not a subscriber and need to be, you can subscribe here
In advance of appearing on store shelves, ABSMaterials has now completed Osorb registry for an INCI name. INCI designates a unique name for all global cosmetics ingredients. Osorb used in cosmetics is filed to be called: Aryl/Alkyl-Bridged Polysilsesquioxane. Hopefully that mouthful will be on the fine print of products available at cosmetics counters worldwide in coming years.
ABSMaterials would like to thank the stakeholders of all kinds who joined us for our ribbon cutting last week.
Last Tuesday, ABS held a ribbon cutting ceremony as we unveiled our newly renovated world headquarters here in Wooster. City and state officials, and members from Wooster Growth, Freeman Construction, JobsOhio, our team partners and community gathered together to celebrate ABSMaterials' growth and expansion into our new HQ facility.
Above: Mayor Bob Breneman (left), Paul Edmiston (center), David Mustine (right) get the
honor to cut the ribbon at the ABSMaterials World Headquarters after renovating its facility.
"Like Osorb, ABS is a unique, and expanding, company," Edmiston said Tuesday at the ceremony, where he thanked the city and state for helping support the business, as well as entrepreneurial organizations like JumpStart. That teamwork, Edmiston added, is exemplified within the company when everyone from the chief operating officer, four Ph.D. scientists, and others helped get the building ready for Tuesday's event.
"That 'let's work together' mentality is characteristic of Ohio and Wooster," Edmiston said.
Please see the following article, courtesy of The Daily Record, for more details.
ABSMaterials Soils Engineer, Ms. Katie Talley led the installation of the first of two Osorb bioswales in Ellwood City, PA.
The borough of Ellwood City received a grant from the EPA in conjunction with the Lawrence County Conservation District (LCCD) to implement green infrastructure for stormwater management throughout Ellwood City. Lauren Anderson, resource technician with the LCCD, contacted ABSMaterials, Inc. to install two separate bioswale systems. The first of these systems was completed this week and installed at Ewing Park.
The Ewing Park bioswale is the first completed project in Pennsylvania. The unit captures and treats stormwater runoff from the adjacent tennis courts and park which was previously causing erosion and runoff concerns to the Beaver River system. The swale is approximately 2,000 sq. ft. and will treat approximately 600,000 gallons of runoff water annually.
Above: This 2000 sq. ft. swale at Ewing Park will capture and treat appx. 600,000 gallons of stormwater runoff from the tennis courts and park adjacent to it.
The BioMix-Osorb swale was completed on Aug 26 and is the first of its kind in Ellwood City, PA.
Ten Best in Class companies to be honored at Corporate Cleantech Venture Day on November 20, 2013 in Lahti, Finland
Wooster, AUGUST 19, 2013-- ABSMaterials, Inc. has been nominated for a 2013 Global Cleantech Cluster Association (GCCA) 2013 Later Stage Award in the category of Water (Resource Recovery, energy, treatment, etc). The annual awards recognize innovative mid to late-stage cleantech companies around the world who are thriving in the new green economy and show great potential for growth. Winning companies will be announced at the Corporate Cleantech Venture Day on November 20th, 2013 in Lahti, Finland. The full list of 2013 Later Stage Award Nominations can be found here.
ABSMaterials, Inc. has been nominated by the Akron Global Business Accelerator in the Water category. The nomination is for its product Osorb®, a nanoporous, glass-like material which captures organic compounds and cleans water. Osorb was invented by Dr. Paul Edmiston, CSO, at The College of Wooster and used to found ABSMaterials, Inc. in 2009. Osorb captures a very wide range of organic compounds, including many that are difficult or impossible to capture by other means (e.g. oils, vinyl chloride, methanol, BTEX). Additionally, captured compounds can later be released and the Osorb can be reused, making it an ideal platform technology for environmentally friendly water treatment and resource recovery applications.
"Osorb is unique in the sense that we can apply it to a wide range of treatment options for industrial water, stormwater, groundwater, or any other contaminated water source," says Katie Talley, ABS Agricultural Engineer. "For example, when added to bioswales, we are able to capture contaminants commonly found in stormwater runoff and release EPA drinking quality water."
“What differentiates the annual Later Stage Awards is the platform it provides for new technologies to grow,” noted Shawn Lesser Co-Founder of Watershed Capital Groupand the GCCA. “Through these awards we help support innovators in the cleantech industry, who are developing their local green economies, by putting them in front of a global audience.”
ABSMaterials, Inc. is a part of a pool of over 160 nominees. GCCA Head Judge Peter Adriaens (Professor of Entrepreneurship and Strategy at the Zell Lurie Institute for Entrepreneurial Studies, Ross School of Business at the University of Michigan) will use the Keystone Compact™ Method to screen the nominees and narrow them down to the top 3 in each category.
The Top 30 will then be evaluated by over 30 venture capital and cleantech judges who select the winners for the Later Stage Award. With more than $3.5 billion invested in clean technology, the GCCA Judges are devoted to later stage companies who have a proven track record in their home market and have the potential for international growth. They include Generation’s Climate Solutions Fund, The Rockefeller Foundation, Dow Venture Capital, BASF Venture Capital and more.
The Best in Class winners will be announced at the Corporate Cleantech Venture Dayon November 20th at Sibelius Hall in Lahti, Finland. This event aims to act as a meeting place for cleantech companies looking for investors and corporate partnerships.
The full list of 2013 Later Stage Award Nominations can be found here.
About the Global Cleantech Cluster Association
The Global Cleantech Cluster Association (GCCA) is a network of 49 cleantech clusters, representing over 10,000 companies. It creates conduits for companies to harness the tremendous benefits of international cleantech cluster collaboration in an efficient, affordable, and structured network. The GCCA provides a gateway for established and emerging cleantech companies to gain exposure to potential investors, new markets, influential networks, innovative technologies and best practices. GCCA was founded by swisscleantech, the Finnish Cleantech Cluster, and Watershed Capital, and Technica Communications. For more information about the GCCA, please visit www.globalcleantech.org.
ABSMaterials, Inc. MEDIA CONTACT
GCCA MEDIA CONTACT
Lisa Ann Pinkerton
GCCA - www.globalcleantech.org
GCCA Nominees- www.globalcleantech.org/2013-later-stage-award-nominees.
GCCA Judges - http://www.globalcleantech.org/awards/judges/
ABSMaterials, Inc. has checked the final box on the initial renovation plans for our headquarters at 1909 Old Mansfield Road and removed "temporary" from our certificates of occupancy. With so many people to thank; from Wooster Growth, Freeman, the State of Ohio, our team partners and community, ABS is planning a factory-warming and thanks-to-all party for mid-October. Date to follow in our next newsletter.
ABSMaterials Lab, Engineers, Adminstrative and Production Teams
in front of the 1909 Old Mansfield Road HQ.
Mr. Vinod “Vinny” Gupta, President of InNow Inc. is working with ABSMaterials Inc. to bring Osorb® Solutions to customers in the India market. Gupta will be presenting Osorb Solutions at the Ahmedabad Conference on Industrial Waste Management in Gujarat, India on Aug. 1.
Gupta will be presenting to leaders in the industrial waste management sector from India and around the globe. He brings with him the idea that wastewater streams could become potential asset streams if managed in a new way. ABSMaterials, Inc.’s Osorb products offer ways to retrieve industrial solvents, VOCs, heavy metals and more. Companies could use this sorbent and regenerative technology to not only clean and treat their wastewater, but earn revenue or reduce costs by being able to reuse materials previously considered waste.
The Ahmedabad Conference on Industrial Waste Management will focus on capacity building and knowledge management in the industrial waste management industry. Leaders will demonstrate various methods of reclaiming industrial waste that are profitable for businesses and better for the environment. The conference also explores the current trends in recycling and reusing industrial waste in India and developing countries, as well as the environmental challenges faced by these countries when dealing with industrial waste.
Gupta, a native of India, is a long time resident of Wadsworth Ohio. He has two decades of leadership roles in metals and materials, and is a long respected and effective leader of the growing Ohio technology ecosystem. Gupta is also an active member of the Indian-American community, serving as founding president of the Columbus based Asian-Indian Alliance. He also serves as Chair of the Ohio Board of Regents. ABSMaterials is honored to be working with Gupta, an esteemed business and community leader with deep ties in Ohio and India.
ABSMaterials will be exhibiting at at this year's Burning River Fest at Wendy Park in Cleveland, OH on Friday, July 26 and Saturday July 27 from 6:00pm-11:00pm.
Since 2001, people from all over the Great Lakes region have come together to remember the 1969 burning of the Cuyahoga River and celebrate the renewed sense of eco-consciousness that the infamous fire sparked. Burning River Fest 2013 will continue that tradition with music from over 25 bands and musicians, delicious local food and chef demonstrations, Great Lakes brewing Company beer, beautiful local art and goods and plenty of educational/informational exhibits about the state of our Great Lakes. Join us in celebration and learn about our work to help keep our Great Lakes great. Tickets are $12 for one day or $18 for two and can be purchased online here
or at the gate.
Proceeds benefit the Burning River Foundation, a local non-profit organization that provides resources for the sustainable future of our waterways, which has donated over $320,000 to date.