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Montrose Leads Funding Round for Swiss Waste Treatment Startup

2 min read

Montrose Environmental Group Inc. (NYSE: MEG) of North Little Rock was named as one of the lead investors in the first funding round for Swiss waste management startup TreaTech.

TreaTech, which has developed technology that transforms waste into methane-rich renewable gas, clean water and minerals, raised $10.2 million in Series A funding.

Swiss startup accelerator Venturelab announced the results of the funding round in a news release, but did not provide specific investment amounts. Engie New Ventures, a venture capital fund of French multinational utility company Engie, was also named as a lead investor.

TreaTech’s total funding now stands at $17.1 million. The company was founded in 2015 by life sciences and chemical engineers at the Swiss Federal Institute of Technology in Lausanne.

TreaTech’s patented technology uses hydrothermal gasification to convert waste streams that are usually incinerated into products such as fresh water for industrial and consumer use; minerals including phosphorous, nitrogen and potassium used for fertilizer; and methane-rich renewable gas that can be used as an onsite energy solution or injected into the grid network.

“We are pleased that industrial public-listed multinationals share our vision and ambitions for the future,” Frédéric Juillard, CEO of TreaTech, said in the release. “We are grateful for their investment which allows us to develop our technology further, extend our product offering to more clients, and raise awareness of the importance of circular waste treatment solutions.”

Montrose’s investment in TreaTech comes after a series of acquisitions over the past two years aimed at expanding its reach and capabilities. CEO Vijay Manthripragada said in May that Montrose remains “forward leaning on strategic acquisitions and technology investments.”

The company has seen demand for pandemic-related services fall sharply, while demand for its remediation and reuse services has remained robust.

In the first quarter of 2023, Montrose’s losses widened to $14.7 million from $7.5 million in the same period a year ago. Manthripragada has stressed that Montrose is “not a quarterly business” and that its annual outlook remains strong.

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