Aromem Pte.,ltd(SURO) secured $15 million financing again
Post time: 2022-12-14
Recently, SURO has secured $15 million financing again. The financing was led by Silicon Harbour Capital, China Fortune-Tech Capital and Yunjin Capital. China Renaissance is the exclusive financing adviser.
After this round of financing, SURO will expand its production line and accelerate the development of market in industries and the sea water desalination at home a nd abroad.By increasing investment in new process R&D, SURO will further expand the application boundary of membrane technology platform, and develop the application of special separation membranes vigorously in biomedical, electronic semiconductor, new energy and other fields.
Since its inception, SURO has been deeply engaged in the field of membrane separation materials in basic industries for nearly 10 years, focusing on the separation and purification of liquid and gas molecules. It has the production and manufacturing capacity of a full range of industrial reverse osmosis flat-sheets and element., SURO is the only manufacturer in this field that has developed its own equipment, process and prescription. SURO cross-border integrates talents in semiconductor, chemistry, materials, bio-medicine and other fields. SURO team members come from Peking University, University of Hong Kong, Tianjin Polytechnic University ,etc,and they have more than 10 years work experiences in R&D or management in Fortune 500 enterprises covering the United States, Singapore etc .
Separation membrane materials belong to high level modern industrial basic Nano-materials widely used in residential and industrial multiple applications, which are monopolized by overseas giants over the years. From domestic substitution to international transcendence, SURO took a decade to reach the technical level, which international large factories took for 30-40 years . At present, the performance index and production efficiency index of the reverse osmosis membrane products of the company are leading in China, and the performance of the whole series of products is directly bench marking with overseas oligopoly manufacturers. The anti attenuation ability of the products is better than that of similar products, and the cost is expected to be lower; At the same time, the company has introduced semiconductor technology into the membrane material industry across the border. The subversive innovative process reserve is expected to promote the global industry into the next era. This technology is likely to expand the application boundary of RO & NF membrane in high-end industry and medicine, which will lead to the inflection point effect of the industry. This financing will also help SURO further improve this new technology route and enlarge production capacity.
The reverse osmosis membrane production line is hundreds of meters long, and there are more than 1200 process control points. The equipment, process and prescription are closely related. Different from the industrialization path of traditional domestic manufacturers introducing equipment from overseas, SURO adheres to independent research and development, relies on the universal membrane technology platform formed by the "trinity" integration of equipment, process and formula, seeks to grasp the mechanism, produces customized special separation membranes for enterprise customers with the capacity of standardized membrane technology platform, and develops an incremental special separation market outside the stock reverse osmosis membrane market. At present, SURO has reserved and expanded the impurity salt purification Multiple incremental scenarios, such as lithium extraction from salt lakes, bio-medicine, and special gas separation, expand the boundaries of membrane separation solutions, and specifically address customer pain points in various industries.
Adhere to R&D driven, product quality first. Under the epidemic situation, SURO have doubled their overseas sales again in the condition of various limits of going abroad. The sales of membrane are growing rapidly covering in Southeast Asia, India, the Middle East and Eastern Europe, and its market share has been increasing sharply. At the same time, in China, SURO has established benchmark customers in water plants, coal plants, steel, power, environmental engineering, food and beverage, textile printing and dyeing, electronic semiconductors, seawater desalination, bio-medicine, photovoltaic new energy etc, and customers of many large and medium-sized enterprises continue to reorder, widely serving in ultra-pure water preparation, reclaimed water reuse and wastewater treatment.
Mr.He Xin, founding partner of Silicon Harbour Capital, said: "As a general industrial consumable, reverse osmosis membrane has a wide range of applications and can be oriented to the global market. The stock market continues to expand; special products open up new economic and environmental protection separation and purification solutions for industries without membrane solutions, and the incremental market is expected in the future. SURO strives to become an international leader in the field of composite reverse osmosis and Nano-filtration membranes. Its team has cross-border access and pioneered breakthrough innovative processes such as slit extrusion globally The product has excellent performance and can compete with DUPONT, an international giant. The product has low cost and is widely used. It provides security for domestic supply chain and is exported overseas. Silicon Harbour Capital is honored to cooperate with this excellent team with independent R&D and innovation capabilities and rich product lines, and will help SURO to connect with domestic and foreign resources and further expand the market. "
Mr.Sun Yuwang, president of China Fortune-Tech Capital, said: "As an old shareholder, we continue to support SURO in this round of funding. The company has grown against the trend of the epidemic, with rapid technology R&D, product iteration, and market expansion. The core team has applied the historical accumulation in the semiconductor field to the high-end film field, from domestic substitution to international transcendence, to ensure the safety of the domestic industrial core material supply chain."
Mr.Huang He, partner of Northern Lights Venture Capital, said: "Different from the equipment production lines and process packages introduced by traditional separation membrane companies in the market, SURO has chosen a completely different route since its inception, which is also the most difficult one. That is to independently research and develop all equipment from scratch to form an independent formula process. At present, we have not seen other companies choose such a difficult path. Although this path requires huge time and early investment, and the survival rate is extremely low. Once a mature production line process is formed, its technology and cost advantages are huge, and its flexibility is incomparable with that of traditional imported production lines. Due to the high integration of equipment,prescription and process, the adjustability of the process parameter window has been greatly increased, and the product scalability and new product customization R&D speed have been improved exponentially. We are gratified to witness that the company has crossed the whole process through 9 years of efforts and has entered into a product outbreak period. It is expected to continue to produce benchmark product applications in various application fields in the next 2-3 years. "
Mr.Xie Yijing, Co President of China Renaissance Investment Banking Business Department, said: "There is no absolute path to a disruptive change in an industry. In general, it is the result of favorable times , favorable places and harmonious people. The integrated team has more opportunities to think and learn from cross borders. We are very optimistic about the persistence, accumulation and achievements of SURO team in high-end membrane materials in the past decade. We grasp the pulse of technological innovation iteration from the mechanism and the development law of the industry itself. We are very honored to accompany the company to catch up and break the situation, and thanks new and old shareholders for their support along the way."
(The above content comes from China Renaissance )