BASF venture capital puts money on clean air
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BASF Venture Capital GmbH, Ludwigshafen, Germany, is investing in Catalytic Solutions, Inc. (CSI), Oxnard, California, a manufacturer of catalysts based on unique materials technologies. BASF is one of several investors in the $32.4 million Series D financing.
Lead investor in this financing round is RockPort Capital Partners, L.P., together with EnerTech Capital Partners and Advent International Corporation. Numerous current investors, including NGen Enabling Technologies Fund, Cycad Group, LLC, and JP Morgan Partners, complete the round. The capital raised in this current round of financing is intended to drive forward product developments and expand marketing and production activities.
CSI has developed a technology allowing highly efficient catalysts to be produced with a significantly lower precious metal content, resulting in significant cost savings opportunities. These products feature superior catalytic performance and already meet worldwide regulatory requirements for the next emission standards. Applications for this proprietary Mixed Phase Catalyst MPCÒ technology are currently focused on three-way catalytic converters in automobiles.
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