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New York Financial Firm Backs Expanded Distribution for Clean Food, Water Solutions
Livermore, Calif. – Feb. 28, 2008 – Purfresh, formerly known as Novazone, Inc., a leading provider of clean solutions for food and water, announced today the final closing of its Series C funding round with an investment of $5 million from Perella Weinberg Partners, a New York-based investment and financial services firm.
“Purfresh is exceptionally well positioned to address the global need for clean food and water,” said Rod Parsley, Partner and Portfolio Manager at Perella Weinberg Partners. “Purfresh’s innovative technologies offer its customers comprehensive and economically compelling solutions to achieve food and water safety.”
Perella Weinberg Partners’ investment formally closes Purfresh’s Series C round of fundraising at $25 Million; an initial raise of $20 Million was lead by Chilton Investment Company, along with existing investors Foundation Capital, Grauer Capital and Chrysalix Energy Venture Capital.
“We’re excited to work with Perella Weinberg Partners, along with our existing investors, to accelerate the deployment of our clean solutions for food and water,” said Purfresh President and CEO David Cope. “As the global food and water supply chains grow more complex, beverage and produce companies – and the regulatory agencies that oversee their operations - are looking for better ways to ensure product quality and safety. This is a massive market with incredible growth prospects, and Purfresh is leading the pack with our clean technology offerings.”
About Purfresh, Inc.
With more than 300 customers in 22 countries, Purfresh is a leader in clean solutions for food and water. Its chemical-free, ozone-based family of products has been approved by the FDA, EPA and USDA to kill deadly, food-borne pathogens such as E. coli and Salmonella, while remaining 100 percent organic. Its water solutions use the safest and most natural purification and disinfection agent for both bottled water and pharmaceutical applications. Purfresh’s patented technologies preserve and protect the world’s food and water supply throughout the pre-harvest and post-harvest packaging, transport and cold storage processes. Its cutting-edge, thin-film sunshield, made from harmless calcium carbonate crystals, reduces sunburn damage and product losses for growers, resulting in better quality product and increased returns. Industry leaders such as Coca-Cola, PepsiCo, Sunkist, Procter & Gamble, Colgate-Palmolive, Safeway, Sun Pacific, Orchard View Farms, Paramount Farms, Wilson Batiz, and Wyeth Pharmaceuticals rely on Purfresh for product purity. For more information, visit www.Purfresh.com.
About Perella Weinberg Partners
Launched in June 2006, Perella Weinberg Partners is an independent, privately owned financial services firm that provides corporate advisory and asset management services to clients around the world. Today, in its Austin, London, and New York offices, the firm comprises 31 partners and approximately 175 employees recruited from a wide variety of leading financial institutions. Perella Weinberg Partners has raised over $1 billion from a global group of investors to establish the operations of the firm and to fund its asset management initiatives. For further information, please visit www.pwpartners.com.
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Media Contact:
Alanna Gino (for Purfresh)
415-977-1918
alanna@antennagroup.com
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