Lexington, KY — January 13, 2025 — ElectraMet, a circular economy company focused on removing and recovering metal and oxidant impurities from process and wastewater streams, today announced the successful close of its Series C funding round, raising $10 million. The round was led by Veriten’s NexTen fund, with participation from existing investors including HG Ventures and the Kentucky Science and Technology Corporation.
This funding marks a significant milestone for ElectraMet, enabling the company to scale its operations, enhance its product offerings, and expand its market presence. Since its founding in 2014, ElectraMet has grown rapidly, helping customers meet demanding environmental compliance requirements while making them more sustainable by recovering valuable metals in their process and waste streams.
“This investment is a testament to the hard work of our team and the trust our investors have in our vision,” said Keith Jacobs, CEO of ElectraMet. “With this funding, we’re excited to accelerate our mission to deliver sustainable solutions to a wide variety of markets.”
Maynard Holt, CEO and Founder of Veriten, shared his enthusiasm for the partnership: “We’re thrilled to join ElectraMet’s investor team as they continue to innovate and disrupt. Their team has demonstrated exceptional execution and a deep understanding of the market’s needs. We’re confident this next phase of growth will bring immense value to their customers and stakeholders.”
The Series C funding will primarily be allocated to expanding the company’s operations in Asia and Europe and developing new product capabilities to better serve their customers.
For more information about ElectraMet and its mission, visit our web site at electramet.com.
About ElectraMet
ElectraMet delivers advanced water treatment technologies to remove and recover metal and oxidant impurities from a variety of streams. Founded in 2014, the company is committed to delivering innovative water treatment solutions that enable a circular economy and create a more sustainable future for us all.
About Veriten’s NexTen fund
The NexTen fund leverages Veriten’s broad network and expertise to invest in reliable, sustainable, scalable, and economically viable energy solutions. Dedicated to understanding the constantly evolving, volatile, and often noisy and confusing energy landscape, the firm has now backed 11 innovative, private companies poised to capitalize on long-term, global energy trends. (Veriten’s NexTen Fund)