American Biofilter LLC raised $875,000 from nine investors via a non-brokered private placement of equity and mezzanine instruments. This is the first known US private placement completed by the company.
The company is expected to come out of stealth mode when it launches this summer. At this time Random Research was unable to confirm what specifically the company will be launching. However we assume the company will be promoting continuous biological waste water treatment services, and specifically a technology to decrease selenium concentrations in water discharged mostly by mine sites and coal fired power-plants. Regulatory agencies in North America are pushing for a reduction in concentration levels. One of the co-founder was the developer of ABMet, a biological filtration system that relies on naturally occurring, non-pathogenic bacteria to precipitate selenium. The technology was acquired by General Electric (GE) in 2006. The US Environment Protection Agency has basic information on selenium in drinking water on its website and an in-depth article on selenium and water treatment challenges was published on WaterWorld‘s website in early 2012.
American Biofilter, headquartered in Salt Lake City UT, was founded in May 2012 by Tim Pickett (CEO) and James Peterson (COO) both former Zenon and GE Power & Water executives.