Veralto Corporation, a leader in essential water and product quality solutions, has announced a strategic investment of around $15 million in Axine Water Technologies. This move is part of Veralto's ongoing efforts to expand its capabilities in tackling water contamination and safeguarding critical resources. Axine is recognized for its advanced electrochemical oxidation methods that effectively eradicate organic contaminants in industrial and pharmaceutical wastewater, including persistent chemicals like PFAS. This collaboration aims to enhance Veralto's portfolio, offering robust solutions for water quality management across diverse sectors.
In a strategic alliance with Axine Water Technologies, Veralto aims to bolster its technological offerings in the realms of water quality and treatment solutions. This partnership grants Veralto a minority stake in Axine, accompanied by a commercial agreement through Trojan Technologies. This arrangement is designed to broaden Axine's presence in the North American market, specifically targeting municipal and industrial sectors to expand the reach and application of their cutting-edge technologies. Jennifer L. Honeycutt, Veralto's CEO, emphasized how the collaboration is an essential element of their growth strategy in water quality, aiming to provide adaptable solutions for increasingly complex water treatment challenges.
Mark Ralph, CEO of Axine Water Technologies, expressed enthusiasm for Veralto's investment, seeing it as a key driver for their expansion into larger markets and delivering increased value to their clients. Axine's experience and success in the wastewater treatment sector make them a valuable partner for Veralto's mission of delivering clean and safe water solutions. Together, they aim to tackle some of the most pressing water contamination issues with innovative technologies.
Veralto stands out as a global powerhouse in technology solutions, with an impressive track record of addressing complex societal challenges related to water and environmental safety. With annual revenue reaching $5 billion and a worldwide workforce of 16,000 employees, Veralto continues to innovate across multiple sectors to create safer and more sustainable futures. Headquartered in Waltham, Massachusetts, the Company's vision centers around the core purpose of safeguarding the world's most vital resources.
Axine Water Technologies prides itself on offering state-of-the-art electrochemical solutions for wastewater treatment, ensuring compliance with stringent environmental standards. With significant operational experience since 2017, Axine provides a treatment-as-a-service model that adapts to evolving regulatory demands, making them a critical player in the sustainable technology space.
This partnership is pivotal for both companies, as it aligns with global trends towards greater environmental responsibility and sustainable practices. Through this collaborative effort, Veralto and Axine are positioned to drive significant advancements in water treatment technology, addressing both current and anticipatory challenges in water quality management.
