Tidal Vision, a green chemistry company founded by a former Alaska fishing boat captain, has raised $140 million to fund its efforts, CEO and co-founder Craig Kasberg confirmed for GeekWire.
The Bellingham, Wash., company uses an environmentally friendly, zero-waste process to turn discarded crab shells into a valuable industrial chemical called chitosan, as well as products made with the ingredient.
Chitosan is something of a wonder chemical and can be used in water purification, to preserve produce, to promote plant growth, as a flame retardant in fabrics, and in pharmaceuticals and cosmetics. It offers a safe alternative to toxic chemicals, metals, petroleum products and pesticides used in industry.
Kasberg began his career as a commercial fisherman as a teen and ultimately captained his own boat. Concerned about the wasted byproducts in the seafood industry, he ultimately launched the business with Chief Strategy Officer Zach Wilkinson in 2015.
In recent years, the company has been expanding its headcount — now up to 287 — and its product offerings and footprint.
In 2023, Tidal Vision acquired Clear Water Services, an Everett, Wash.-based business providing water cleaning devices and services. The company was an early customer for Tidal Vision’s cleaning chemicals.
In addition to its Bellingham operations, Tidal Vision has a production site in South Carolina and in July announced that it was breaking ground on a new plant in Texas where its Tidal Grow Agriscience division will produce liquid fertilizers.
The company last year was a finalist in the Sustainable Innovation of the Year category at the GeekWire Awards.
The $140 million Series B round includes roughly half of the $46.7 million in funding that GeekWire reported in May. The remaining dollars disclosed in May reflected the conversion of previously issued notes into equity.
https://ift.tt/AobBYNx February 03, 2025 at 02:00PM GeekWire
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