Accelerated Filtration, Inc. Company Profile

Background

Founded in 2020 and headquartered in Midland, Michigan, Accelerated Filtration, Inc. (AFI) specializes in developing advanced water filtration technologies. The company's mission is to provide innovative solutions for the efficient removal of fine suspended solids from variable water streams, addressing critical challenges in water treatment across various industries. AFI's flagship product, the VelRay X™ suspended solids management system, exemplifies their commitment to sustainability and technological advancement in the water filtration sector.

Key Strategic Focus

AFI's strategic focus centers on delivering turnkey filtration solutions that ensure consistent removal of fine suspended solids from diverse water streams. The VelRay X™ system, their primary offering, combines cross-flow filtration with tapered slots and active filter brush cleaning, enabling efficient filtration without the need for chemicals. This technology is particularly effective in industries such as mining, food processing, and wastewater remediation, where managing high variability of suspended solids is crucial. By emphasizing sustainability, the VelRay X™ system achieves up to 99% water recovery, promoting responsible water usage.

Financials and Funding

Since its inception, AFI has successfully secured significant funding to support its growth and technological development:

Pre-Seed Funding (July 2022): AFI raised $1.5 million in a pre-seed funding round led by Closed Loop Partners.

Seed Funding (May 2023): The company closed a $4 million seed funding round led by Michigan Capital Network, with participation from Oxcart Equity Partners, Closed Loop Partners, Anthropocene Ventures, ID Ventures, Red Cedar Ventures, and Northern Michigan Angels. This capital is intended to double the production space at AFI's Midland manufacturing facility and enhance global business development efforts.

Technological Platform and Innovation

AFI's VelRay X™ system stands out due to its proprietary combination of cross-flow filtration, tapered slots, and active filter brush cleaning. This design allows for the efficient removal of fine suspended solids without chemical additives, making it suitable for handling variable water streams with high levels of suspended solids. The system's portability and ease of use, requiring minimal supervision and maintenance, further distinguish AFI in the water filtration industry.

Leadership Team

AFI's leadership comprises experienced professionals dedicated to advancing water filtration technologies:

Scott Burr, Ph.D. – Co-Founder, Chief Executive Officer, and Board Member. Dr. Burr brings extensive expertise in filtration technologies and leads the company's strategic direction and innovation initiatives.

John Mallard – Co-Founder, Chief Financial Officer, Chief Operating Officer, and Board Member. Mr. Mallard oversees the company's financial operations and operational strategies, ensuring efficient execution of business objectives.

Competitor Profile

Market Insights and Dynamics

The North American industrial filtration market was valued at USD 16.18 billion in 2022 and is projected to reach USD 21.50 billion by 2030, exhibiting a CAGR of 3.6% during the forecast period. This growth is driven by stringent environmental regulations, increasing awareness about health and safety in industrial settings, and the rising demand for clean water across various industries.

Competitor Analysis

AFI operates in a competitive landscape alongside established companies such as Eaton, Danaher, Parker-Hannifin, and 3M. These industry leaders offer a range of filtration solutions and have significant market presence. AFI differentiates itself through its innovative VelRay X™ system, which provides efficient, chemical-free filtration with high water recovery rates, catering to industries requiring advanced suspended solids management.

Strategic Collaborations and Partnerships

AFI has engaged in strategic partnerships to enhance its market position and technological capabilities. Notably, the company partnered with Eximius Environmental Solutions to deploy a mobile filtration trailer showcasing the VelRay X™ technology, demonstrating its practical applications and effectiveness in real-world scenarios.

Operational Insights

AFI's strategic considerations include expanding its production capacity and global outreach to meet the growing demand for advanced water filtration solutions. By focusing on industries with high variability in suspended solids, AFI leverages its technological advantages to offer efficient and sustainable filtration systems, positioning itself as a key player in the market.

Strategic Opportunities and Future Directions

Looking ahead, AFI aims to capitalize on the increasing global emphasis on water conservation and environmental sustainability. The company plans to expand its product offerings and explore new markets, leveraging its innovative technologies to address diverse water filtration challenges. Continued investment in research and development, along with strategic partnerships, will be pivotal in driving AFI's growth and reinforcing its position as a leader in the water filtration industry.