On December 20, 2024, the European Investment Bank (EIB) announced a €22.5 million financing initiative for Chromafora, a Swedish cleantech innovator, aimed at combating hazardous pollutants known as per- and polyfluoroalkyl substances (PFAS).
This funding aligns with the EU's environmental sustainability goals and will facilitate the development of advanced water-treatment units across Europe by 2028. PFAS, often referred to as 'forever chemicals', are notorious for their persistence in the environment and their potential health risks, including links to cancer and reproductive issues.
EIB Vice-President Thomas Östros stated, "This operation demonstrates our commitment to supporting clean-water technologies that benefit both the environment and public health." The SELPAXT technology developed by Chromafora employs advanced filtration and proprietary chemical processes to effectively eliminate PFAS from water, including challenging short-chain variants.
Chromafora's compact, containerized treatment systems are designed for rapid deployment, primarily targeting industrial clients such as landfill operators in Belgium and Sweden. CEO Johan Seijmer emphasized the significance of the EIB loan, calling it a validation of their technology and a catalyst for faster expansion throughout Europe, where there is increasing demand for PFAS wastewater treatment.
The financing is part of the EIB's broader strategy to support projects that align with EU laws on water quality and pollution control, contributing to the European Green Deal and the transition to a circular economy. In 2023, the EIB Group committed nearly €3 billion for projects in Sweden, with a strong focus on climate action and environmental sustainability.
Chromafora’s innovative solutions not only address PFAS contamination but also promote the recovery of valuable metals from waste, enhancing resource conservation. The SELPAXT technology has demonstrated over 90% removal efficiency for both long and short PFAS chains, positioning it as a vital tool in the fight against water pollution.