28 May 2013
E2Metrix Begins Its Market Phase
PRESS RELEASE – E2Metrix, a young Sherbrooke-based business that has developed an innovative wastewater treatment system, will soon begin to market its process.
In fact, this company, which was founded in 2010 and has to date invested more than $1 million in research and development, obtained a second round of financing from Sherbrooke Innopole through the Program for Innovative Entrepreneurship and Desjardins Innovatech. In conjunction with an investment by a private partner and Gestion AD/FSIT, the $1.45 million in total financial assistance provided to the new project will make it possible for E2Metrix to boost its market growth and implement its sales-and-marketing strategy.
Since it was founded, E2Metrix has made good use of the scientific and business knowledge of its founding shareholders to develop, design, and manufacture wastewater treatment technology based on an electrocoagulation process. “Some of this technology’s features give it an edge over conventional chemical processes,” pointed out Chloé Legris, director of Cleantech, a key dossier at Sherbrooke Innopole, “which are costly and harder to operate. Not only does the E2Metrix solution solve many of the water-treatment problems faced by a number of industries, it also allows them to economically meet the requirements of the strictest environmental regulations.”
The results of the E2Metrix process are very conclusive, particularly in the agri-food, industrial, and municipal sectors. “Industry is very interested in our process,” explained Mohamed Laaroussi, E2Metrix president, “and this has allowed us to develop several partnerships with major players like Olymel and Agropur in the last year.”
“The financial assistance we received,” he continued, “will allow E2Metrix to invest in capital, equipment, and improvements in our technology showcase.” The young company located in Sherbrooke Regional Industrial Park already employs 8 individuals and plans to hire 12 more by 2014.
“We assisted E2Metrix during its start-up phase two years ago, and we are supporting it again now as it kicks off its market phase. This is a perfect example of how it is possible to start up and develop an innovative company in Sherbrooke,” emphasized Pierre Bélanger, director general of Sherbrooke Innopole. “Sherbrooke is very well equipped with various sources of financing, such as the Program for Innovative Entrepreneurship, and partners, such as Desjardins Innovatech, which support innovative ideas here in an effort to forge businesses, sources of employment and collective wealth,” he concluded.
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