Cleantech company Log 9 Spill Containment has raised a seed round of approximately $564,000 from angel investors Renjit Zachariah Shinto, head of well services and wellhead maintenance at Qatar’s offshore oil company OXY and Omkar Ghaisas.
The company is a wholly-owned subsidiary of Log 9 Materials Scientific and uses Graphene-based nanotechnology for containment and absorption of offshore and onshore oil spills and chemical spills.
Log 9 Spill Containment was formed earlier this year and has been selling its sorbent pads to petrochemical refineries and marine clean-up and environment protection stakeholders.
The company will utilise the funds to set up a manufacturing facility for its products in Navi Mumbai as well as new product development.
“We have already developed a brand by the name Sorbene, which represents oil/chemical sorbents made with Graphene,” said Dhananjay Sharma, CEO, Log 9 Spill Containment.
“The funds we have received recently will boost Log 9 Spill’s capabilities not only in terms of production and scaling up of our Sorbent range of products, but also aid us in the research and development of new products that shall cater to domestic and international markets in providing efficient oil spill clean-up solutions,” he added.
The Sorbene product range can absorb oil up to 86 times its own weight and can be used up to eight cycles.
The parent company, Log 9 Materials, last raised funds in July 2018 from a group of angel investors including Hemant Luthra, chairman of auto-parts maker Mahindra CIE.
The company was founded in 2015 by IIT Roorkee alumnus Akshay Singhal and is a part of the TIDES incubation centre at the institute.