NxtGen Emission Controls Inc. announced Oct. 30 it had closed on a $15.4 million series B investment led by Altira Group LLC. “The financing of the company with B series stock is particularly meaningful given the economic circumstances of the day, NxtGen President and Chief Executive Officer Jeremy Holt said. “The inclusion of two strategic investors from Japan is noteworthy, as is the lead investor for this round, U.S.-based Altira, and the returning Canadian-based investor syndicate.”
Canada-based NxtGen developed a scaled-down, under-the-hood technology to produce syngas from fuel to help reduce emissions of particulate matter and nitrogen oxide. The syngas aftertreatment technology developed by NxtGen also significantly reduces precious metal loading on catalysts for emissions control and can skirt the complex urea-injected selective catalytic reduction systems for nitrogen oxide control altogether. According to the company, its technology provides a platform for advanced emission and combustion technologies for multiple fuels, including diesel, biodiesel, natural gas and gasoline.
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