An Israeli recycling company that turns raw sewage waters into recycled products and energy while cutting down on costs signed an agreement with a Dutch wastewater and paper mill facility.
The firm, Applied Clean Tech, has been developing their Sewage Recycling System (SRS) since 2007 and uses wastewaters to create different recycled products, including energy.
According to the company, their system prevents approximately half of the sludge from ever being formed and creates recyclable materials by converting the bio-solids into Recyllose, a material made of cellulose.
Cellulose is the main component of plant cell walls and it is mainly found in paper, but it also has many other uses like in the textile industry, in insulation and some kinds of plastic.
"It saves a lot of money, about 30 percent of operational costs and it's extremely useful in those countries like Israel, that cannot make cellulose and therefore spend a lot of money importing it," saidApplied Clean Tech's CEO, Raphael Aharon.
The system separates the dirt from the water, sterilizes both the clean and the waste water and then separates the cellulose from the scrap material.
Applied Clean Tech has currently installed the SRS system in four Israeli cities and have sold one unit in Mexico and another one in Scotland, but if the Dutch collaboration proves to be fruitful, the company hopes they will expand to other countries in Europe.
Payments processing platform provider Credorax secures $40 million from FTV Capital
Payments processing platform provider Credorax has secured an investment of $40 million from FTV Capital. The proceeds will be used to further enhance the company's technology platform, client service, distribution capabilities and geographic footprint.
Credorax, Benjamin Nachman, FTV Capital, Chris Winship Credorax offers a unified payment and transaction-processing platform to Payment Service Providers, ISOs and online merchants across all 27 European Union (EU) member states. Credorax is a principal member of Visa and MasterCard and a PSD-licensed financial institution in Europe.
"Credorax's differentiated technology-driven approach to e-commerce acquiring is what attracted us to the business," said Chris Winship, FTV Capital partner and new Credorax board member. "We are very impressed with the execution to-date and look forward to helping the company continue to deliver innovative solutions to PSPs, ISOs and merchants while growing their presence in Europe, the US and internationally."
Credorax was founded in 2008 by Benjamin Nachman, the company CEO. Credorax headquarters are in Boston, MA, US with offices in Malta, London, UK, and Tel Aviv, Israel.