Norwegian Katapult Ocean invests in cleantech startup ecoSPEARS for access to clean water, food, and air
Norwegian Group Katapult Ocean has invested in ecoSPEARS, a cleantech startup that uses patented NASA environmental technologies to clean toxins from sediments, soil and groundwater, to enhance access to clean water, clean food, and clean air.
In the selection process, Katapult Ocean screened and interviewed a pipeline with more than 1,500 startups. Since 2018, Katapult Ocean has made 32 investments in exciting ocean impact companies from all over the world (17 countries and four continents). "Few options exist when it comes to eliminating persistent and emerging contaminants in soil, sediment, and oil - a problem which has grown with industry globally. ecoSPEARS is well-positioned to become the benchmark cleantech company for green remediation," said Jonas Skattum Svegaarden, CEO of Katapult Ocean.
ecoSPEARS imagines a world where every human being has access to clean water, clean food, and clean air. ecoSPEARS realizes that partnerships will be vital to achieving their ambitious vision.
Sergie Albino, CEO and Co-founder of ecoSPEARS said: ''We are thrilled to be selected into Katapult Ocean Wave 3 and the Norwegian startup community. Now, more than ever, we must restore the health of the world's waters to protect people, wildlife, and the environment. Our partnership with Katapult Ocean will help us scale our remediation technologies to Europe and beyond.
Unlike unsustainable landfilling and incineration methods, ecoSPEARS eliminates toxins in an eco-friendly and cost-effective approach. ecoSPEARS extracts and destroys Polychlorinated biphenyls (PCBs), dioxins, and other Persistent Organic Pollutants (POPs) utilizing non-thermal technology. Its solutions reduce CO2 emissions by up to 75%, uses virtually no water, and minimizes the creation of harmful byproducts compared to alternative methods. The technologies are being developed as scalable and modular systems and are currently advancing to on-site pilot deployment.
Ian Doromal, EVP and Co-founder of ecoSPEARS said: ''PCBs and dioxins are cancer-causing toxins impacting hundreds of millions of people worldwide. According to the United Nations, 90 years later, PCBs are still the most widespread contaminant globally. We know that we are taking on a massive undertaking, but our team is bold and more than capable. Plus, everyone loves a good underdog story.''