JumpStart Inc., Northeast Ohio's non-profit venture development organization announced an investment commitment of $350,000 in MAR Systems.
MAR Systems, a spin-off of Cleveland-based, minority owned Metaloy, provides proprietary processes for the removal of metals from water and gases through the use of recycled alumina catalysts.
“With the emergence of more stringent standards surrounding arsenic and heavy metals contained within drinking water and industrial effluents, our patent pending process offers an environmentally safe and friendly solution to a global concern,” offered MAR Systems CEO, Claude Kennard. “The technology was developed jointly with the United States Environmental Protection Agency,” Kennard added.
"This technology embraces the concepts of Industrial Ecology, by using a spent material previously destined for the landfill for additional applications,” said EPA Chemist Dr. Michael Gonzalez. “In this opportunity, the material is utilized for the removal of mercury and arsenic contaminants in drinking water and waste water applications,” concluded Gonzalez.
“The market for non-chemical water treatment is estimated to be nearly $6 billion in the US by next year,” stated JumpStart Executive-In-Residence, Mozelle Jackson. “Based upon our own exhaustive due diligence on MAR Systems technology and market potential, we are optimistic that their technology will find broad market applications,” Jackson added.
This investment in MAR Systems represents JumpStart’s 13th investment in the last 22 months.
About MAR Systems
MAR Systems provides proprietary processes for the removal of metals from water and gases through the use of recycled alumina. The current patent pending process was jointly developed with the USEPA to offer a low cost, state-of-the-art method of meeting the new, more stringent US drinking water standards and of dealing with emerging, international water quality problems.
In addition, the technology is effective at removal of metal from gas streams including coal fired electrical generators and industrial incinerators. This includes reducing the emissions of mercury to the environment, a major contributor to contamination of fresh water fish.
About JumpStart Inc.
JumpStart (www.jumpstartinc.org) accelerates the growth of early-stage businesses and ideas into venture-ready companies by delivering vital, focused resources to entrepreneurs in Northeast Ohio. JumpStart identifies and invests in early-stage companies that have strong potential in the marketplace, solid prospects for high growth, and are likely to qualify for later-stage funding. Beyond investing, the JumpStart team provides a continuum of business development services to its client companies to help ensure their success.