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University of Washington spinoff secures US$1.25mn funding
NEWS line as the water treatment method of choice in the upstream oil and gas market. Mycelx will retain its current business in the downstream market for all its products and services. Mycelx CEO Connie Mixon said: “We are extremely pleased to be working with Schlumberger to bring our products to their global upstream customer base. This agreement is in line with our focus on establishing strategic alliances to leverage sales and marketing channels globally. We believe the RE-GEN product is a paradigm shift for upstream producers in that it allows them to meet their produced water treatment needs and provides meaningful cost savings.”
convenience of a mechanical filter,” said Dr Krichtafovitch, PAF cofounder and CTO. PAF will introduce a line of stand-alone air purification devices using its proprietary technology, aimed at the household consumer market and commercial environments such as offices in the US, China and other heavily polluted urban areas. PAF will also partner with commercial air filtration companies who can use PAF’s proprietary technology to improve the performance and energy efficiency of their own systems.
For further information, visit www.mycelx.com
Technip, FMC Technologies sign business combination agreement
University of Washington spinoff secures US$1.25mn funding
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acific Air Filtration (PAF), a spinoff of the CoMotion collaborative innovation hub at the University of Washington, has received a seed round investment of US$1.25 million to bring its air filtration technology to market. PAF has developed proprietary technology that combines the high filtration performance and convenience of mechanical filters with the energy efficiency of electrostatic filters by replacing metal plate collectors with inexpensive open cell foam that can be replaced as a single cartridge. PAF owns exclusive rights to the technology, which was originally developed by Dr Igor Krichtafovitch in partnership with the CoMotion collaborative innovation hub at the University of Washington. “To meet today’s demand for healthier indoor air, we’ve introduced a solution that offers the best of both worlds – the efficiency of a true electrostatic filter and the
June 2016
so quickly is a testament to the logic and strategic rationale of this merger.” The transaction is expected to close in early 2017. For further information, visit www.technip.com and www.fmctechnologies.com
Atlas Copco to acquire South Korean abatement company
For further information, visit www.pacificairfiltration.com
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echnip and FMC Technologies Inc have executed a business combination agreement (BCA) regarding their proposed merger (see Filtration Industry Analyst, May 2016). The BCA follows the conclusion of the required work council consultation process in Europe. “With the signing of the BCA, we have reached an important milestone paving the way to building a unique offering, driving change by redefining the production and transformation in the oil and gas industry,” said Thierry Pilenko, Technip chairman and CEO, who will serve as executive chairman of the combined company, TechnipFMC. Doug Pferdehirt, president and chief operating officer of FMC Technologies, who will serve as the CEO of TechnipFMC, added: “The combination of FMC Technologies and Technip is an exciting opportunity for both companies to shape the future of the oil and gas industry by accelerating technology innovation, integrating and improving project execution and reducing costs for customers. Having concluded the consultation process
tlas Copco has agreed to acquire CSK Inc, a South Korean supplier of abatement solutions to the semiconductor, display, solar and LED markets, in a deal valued at SEK840 million. Based in Gyeonggi-do, South Korea, CSK also has sales and service locations in China, Taiwan and the United States. CSK employs about 400 people and had revenues in 2015 of SEK870 million. “This acquisition will enable us to offer customers a wider range of top-quality solutions thanks to the highly qualified team at CSK,” said Nico Delvaux, president of Atlas Copco’s Compressor Technique business area. The CSK business will become part of the Vacuum Solutions division within Atlas Copco’s Compressor Technique business area. Atlas Copco is also acquiring German compressed air specialist Schneider Druckluft GmbH. Based in Reutlingen near Stuttgart, Schneider Druckluft focuses mainly on piston compressors and has a range of related products and services, including filters. The company had 2015 revenues of around SEK250 million and 110 employees. “Schneider Druckluft is synonymous with high-quality compressed air solutions and will fit well with the strategy of our Professional Air division,” said Delvaux.
For further information, visit www.atlascopcogroup. com, www.csk.kr and www.schneider-airsystems.de
Filtration Industry Analyst
3
convenience of a mechanical filter,” said Dr Krichtafovitch, PAF cofounder and CTO. PAF will introduce a line of stand-alone air purification devices using its proprietary technology, aimed at the household consumer market and commercial environments such as offices in the US, China and other heavily polluted urban areas. PAF will also partner with commercial air filtration companies who can use PAF’s proprietary technology to improve the performance and energy efficiency of their own systems.
For further information, visit www.mycelx.com
Technip, FMC Technologies sign business combination agreement
University of Washington spinoff secures US$1.25mn funding
P
acific Air Filtration (PAF), a spinoff of the CoMotion collaborative innovation hub at the University of Washington, has received a seed round investment of US$1.25 million to bring its air filtration technology to market. PAF has developed proprietary technology that combines the high filtration performance and convenience of mechanical filters with the energy efficiency of electrostatic filters by replacing metal plate collectors with inexpensive open cell foam that can be replaced as a single cartridge. PAF owns exclusive rights to the technology, which was originally developed by Dr Igor Krichtafovitch in partnership with the CoMotion collaborative innovation hub at the University of Washington. “To meet today’s demand for healthier indoor air, we’ve introduced a solution that offers the best of both worlds – the efficiency of a true electrostatic filter and the
June 2016
so quickly is a testament to the logic and strategic rationale of this merger.” The transaction is expected to close in early 2017. For further information, visit www.technip.com and www.fmctechnologies.com
Atlas Copco to acquire South Korean abatement company
For further information, visit www.pacificairfiltration.com
A
T
echnip and FMC Technologies Inc have executed a business combination agreement (BCA) regarding their proposed merger (see Filtration Industry Analyst, May 2016). The BCA follows the conclusion of the required work council consultation process in Europe. “With the signing of the BCA, we have reached an important milestone paving the way to building a unique offering, driving change by redefining the production and transformation in the oil and gas industry,” said Thierry Pilenko, Technip chairman and CEO, who will serve as executive chairman of the combined company, TechnipFMC. Doug Pferdehirt, president and chief operating officer of FMC Technologies, who will serve as the CEO of TechnipFMC, added: “The combination of FMC Technologies and Technip is an exciting opportunity for both companies to shape the future of the oil and gas industry by accelerating technology innovation, integrating and improving project execution and reducing costs for customers. Having concluded the consultation process
tlas Copco has agreed to acquire CSK Inc, a South Korean supplier of abatement solutions to the semiconductor, display, solar and LED markets, in a deal valued at SEK840 million. Based in Gyeonggi-do, South Korea, CSK also has sales and service locations in China, Taiwan and the United States. CSK employs about 400 people and had revenues in 2015 of SEK870 million. “This acquisition will enable us to offer customers a wider range of top-quality solutions thanks to the highly qualified team at CSK,” said Nico Delvaux, president of Atlas Copco’s Compressor Technique business area. The CSK business will become part of the Vacuum Solutions division within Atlas Copco’s Compressor Technique business area. Atlas Copco is also acquiring German compressed air specialist Schneider Druckluft GmbH. Based in Reutlingen near Stuttgart, Schneider Druckluft focuses mainly on piston compressors and has a range of related products and services, including filters. The company had 2015 revenues of around SEK250 million and 110 employees. “Schneider Druckluft is synonymous with high-quality compressed air solutions and will fit well with the strategy of our Professional Air division,” said Delvaux.
For further information, visit www.atlascopcogroup. com, www.csk.kr and www.schneider-airsystems.de
Filtration Industry Analyst
3