A University of Minnesota spinoff is commercializing "green chemistry" solutions that combat coronaviruses as well as neutralize mercury and other industrial-born pollution
"We solve environmental problems without creating new ones," said Abdennour Abbas, co-founder and chief technology officer of Claros Technologies and a University of Minnesota researcher.
Claros has entered into development contracts with three government agencies, including the Centers for Disease Control and Prevention and the Environmental Protection Agency, for more than $1.5 million. It has raised $1.5 million in equity capital from investors and aims to raise about $10 million more in 2021.
"It's a science-based company with the potential for a great impact on the environment," said Phil Soran, a tech entrepreneur who invested in Claros and is on its board of directors.
"They've proved everything they said they would. From embedding antiviral [functionality into plastics and fabrics], to getting mercury and PFAS out of water and detoxifying it," Soran said. "The challenge is scaling up in size. I think that's achievable. And there are businesses with pollution issues and others very interested."
Claros CEO Michelle Bellanca spent 23 years with 3M Co., the last 10 as a Singapore-based managing director of strategic ventures in Asia. She invested, acquired and managed promising tech firms.
"I left 3M in Singapore because I wanted to do something like this," Bellanca said.
She was teaching an entrepreneurial class at the U and raising her children when she was approached by the U's tech-commercialization office to help Abbas in 2017. Claros moved in 2019 from Abbas' lab to a business incubator in St. Paul.