[Funding alert] Clean-tech company Log 9 Spill Containment raises Rs 4 Cr in pre-Series A
Clean-teah company Log 9 Spill Containment raised Rs 4 crore from angel investors Renjit Shinto and Omkar Ghaisas in its pre-Series A round, on Monday. Log 9 Spill Containment, a subsidiary of Log 9 Materials Scientific, will use the funds for product innovation and development, as well as for infrastructure development.
The Mumbai-based company deals in graphene-based products for better containment and absorption of off-shore and on-shore oil spills and chemical spills for the protection of the environment.
According to the company, a major portion of the funds will be used to set up a new state-of-the-art production facility in Navi Mumbai, for manufacturing its existing product portfolio. The rest will be deployed towards the development of new products in industrial spill and other domains.
Dhananjay Sharma, CEO of Log 9 Spill Containment, said:
“At Log 9 Spill, we are using graphene as the base material to bridge the gap between laboratory-developed technologies and market-ready products, and thus creating, manufacturing, and commercialising novel solutions for the clean-tech sector. We have already developed a brand by the name Sorbene, which represents oil/chemical sorbents made with graphene. The funds we have received recently will boost Log 9 Spill’s capabilities not only in terms of production and scaling up of our Sorbent range of products, but also aid us in the research and development of new products that shall cater to domestic and international markets in providing efficient oil spill clean-up solutions.”
The company manufactures and offers products to control spills of all forms. Their products can be used to prevent, control, and clean spills in and around marine or terrestrial ecosystems. Further, the company has a larger agenda of educating industries and businesses about the value propositions attached to using graphene technology-based products or offerings with respect to cost savings and positive environmental impact.
Log 9 Spill Containment started their operations earlier this year. The company’s product range – Oil Sorbent Pads - has been tested and certified against British Standards by third-party laboratories and were able to absorb oil up to 86 times their own weight.
“During each life cycle, our Sorbene products reduce the carbon emission to atmosphere by at least 50 percent as compared to conventional products. The Sorbene pads are very flexible and can be folded and used as wipes. A single Sorbene pad can be used for six to eight cycles, whereas other traditional pads can be used only once. Their reusability and higher absorbance ability reduces the overall number of pads required per unit spill volume. This invariably reduces the carbon footprint to produce mats, reducing the energy requirement, wastages during production and usage, transportation requirements and storage space allocations,” Dhananjay adds.
(Edited by Teja Lele Desai)