i2E, Inc. (Covered in our MTG Leader State-partnered Gap Fund Event), has made a concept investment of $125,000 in Stillwater, OK-based Associated Material Processing, LLC., through the Oklahoma Seed Capital Fund. The Seed Fund investment led an investment round of $250,000 from co-investors that included OSU Cowboy Technologies and a member of i2E’s SeedStep Angels group.
Associated Material Processing (AMP) is marketing a chemical polymer that absorbs large quantities of arsenic and phosphate. The company developed a process in which the technology can be used to remove poisonous arsenic out of the waste streams of semiconductor manufacturers and other industrial effluents, as well as drinking water sources.
The Oklahoma Seed Capital Fund is a state-appropriated investment fund that provides concept, seed and start-up equity investments to the state’s high-growth advanced technology businesses. It is managed by i2E through a collaboration with the Oklahoma Center for the Advancement of Science and Technology (OCAST). The fund investment encourages more rapid growth in terms of revenues, employment and increased private co-investment capital.
About Associated Material Processing: Founded in 2011, Associated Material Processing is working to commercialize a sorbent chemical polymer developed in the laboratory of Oklahoma State University chemistry professor Allen Apblett, Ph.D. The technology has been shown to remove arsenic from various industrial waste water streams, drinking water and land water runoff.
About i2E, Inc.: With offices in Oklahoma City and Tulsa, OK, i2E is a not-for-profit corporation that provides an award-winning suite of venture advisory, access to capital and entrepreneurial development programs for Oklahoma’s high growth businesses.
Source: PE Hub http://www.pehub.com/159510/oklahoma-seed-capital-fund-backs-amp/
