TORONTO, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Blue-Zone Technologies, Ltd. (Blue-Zone), www.blue-zone.com, the world's first Clean-Tech Pharmaceutical company focused on the sustainable capture and recovery of waste anesthetic gasses, resulting in the production of branded generic anesthetics, is proud to announce an $8 million round of institutional financing jointly led by the Canadian Venture Capital arm of Crédit Mutuel Equity (formerly CIC Capital Ventures) and Round Pound Ventures, LLC.
"We're delighted to welcome an investor of Crédit Mutuel Equity's calibre. In addition to the financial investment, we will leverage their extensive network and in-depth knowledge of the global healthcare sector. The next 12 months will be an exciting time for Blue-Zone as we scale-up our operation and accelerate our commercial efforts. The investment from Round Pound Ventures gives us access to a strategic partner, Halocarbon Life Sciences, LLC, with experience in the manufacturing, regulatory controls, distribution, and sales of halogenated anesthetic products. My vision for Blue-Zone is to make a significant contribution to the health and well-being of the communities surrounding Blue-Zone Certified Healthcare facilities worldwide, while building a world renowned, clean-tech pharmaceutical business," said Kipton Lade, CEO of Blue-Zone Technologies.
"The idea that there is a technology that can prevent undesirable emissions from unused anesthetic gases in operating rooms and then process the captured gas to create novel pharmaceutical grade anesthetics for hospitals and other surgical suites creates an opportunity for a true win-win solution for the public, employees, physicians, technologists and suppliers in the industry. Blue-Zone's seasoned team quickly demonstrated its ability to prove the merits of its solution scientifically and commercially to key stakeholders: hospitals, surgical centers, and Health Canada," said Ludovic André, Managing Director, Venture Capital, Crédit Mutuel Equity. "We intend to be a value-added partner for Blue-Zone so that it can continue to solidify and quickly expand its deployment of the Deltasorb© and Centralsorb© systems across North America and abroad."
"We believe that Blue-Zone's technology has the potential to create environmental benefit for hospitals, improve workplace safety, and provide access to environmentally friendly pharmaceutical grade anesthetic products for operating rooms and intensive care units," said David Bacon, Board Member of Blue-Zone Technologies and CEO of Halocarbon Life Sciences.
Blue-Zone's operations are headquartered in Toronto, Ontario Canada. The company's mission is to reduce hospital's hazardous environmental waste and lower financial costs by applying Blue-Zone's patented technology. Blue-Zone collects unused anesthetics that would normally be vented into the environment and processes the collected material into its pure form providing a sustainable and cost-efficient source of inhalation anesthetic drugs. As such, Blue-Zone is the world's first Cleantech Pharmaceutical Company, running a fully operational, GMP compliant, Health Canada licensed Drug Establishment Facility for Anesthetic Recovery, Raw Material and Final Product Production. For more information visit www.blue-zone.com.
Blue-Zone Technologies Ltd. was founded in 1999 by Dusanka Filipovic, a renowned Professional Engineer, co-inventor of Blue-Zone's core technologies, and entrepreneur with more than 20 years of experience in engineering processes. Dusanka led the technology development from its conceptual stage and guided the intellectual property and regulatory successes. Dusanka will remain with Blue-Zone as a consultant through its scale-up and commercialization phase.
About Crédit Mutuel Equity
Crédit Mutuel Equity is the private equity subsidiary of Crédit Mutuel Alliance Fédérale and carries out venture capital, growth capital and buyout activities. Crédit Mutuel Equity supports business leaders at all stages of their companies' development, from seed phase to buyout, by providing them with the means and the time required to implement their transformational projects. Crédit Mutuel Equity brings together a network of over 350 business leaders and entrepreneurs who share similar convictions and can benefit from one another's experience, no matter the nature of their projects. Using its own funds (?3.0 billion), Crédit Mutuel Equity makes investments tailored to the time horizons and growth strategies of the companies in which it invests, whether in France, Canada, the United States, Germany or Switzerland.
About Crédit Mutuel Alliance Fédérale
As one of France's leading bank insurers, with almost 4,400 points of sale serving 26.9 million customers, Crédit Mutuel Alliance Fédérale offers a diverse range of services to private individuals, professionals and companies of all sizes. With ?47.5 billion of equity capital and a CET1 ratio of 17.1% as of June 30, 2020, it is one of Europe's most solid banking groups.
Crédit Mutuel Alliance Fédérale comprises the Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille) and Anjou (Angers) federations. Massif Central (Clermont-Ferrand) and Antilles-Guyane (Fort-de-France) federations will join it on January 1, 2020. Crédit Mutuel Alliance Fédérale also encompasses Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), Targobank, Cofidis, Banque Européenne du Crédit Mutuel (BECM) and CIC Iberbanco.
About Round Pond Ventures
Round Pond Ventures, LLC is an investment arm of HPC Holdings, Inc (the holding company for the Halocarbon Family of Companies). Halocarbon Life Sciences is a wholly owned subsidiary of HPC Holdings.
These press releases may also interest you