View the full story on Kanaal Z (Dutch) here.
Ready for international expansion
“With the help of flux results, our clients have a far better overview of the risks of soil pollution and are thus able to draw up more focused and cost-efficient remediation plans. Thanks to our knowledge and the trust we have built up within the industry, we are ready for a major breakthrough” says CEO Tim Op ‘t Eyndt, who is responsible for the business and international development.
Currently, most of the company’s projects are executed in Flanders, which is undertaking a pioneering role in sustainable ground water management using innovative techniques, spurred on by the OVAM (Public Waste Agency of Flanders). “However, the issue is a global one, and this capital increase will help us carry the iFLUX technology across borders. Hence we are primarily looking at neighbouring countries and the United States.”
The iFLUX story started in 2017, when Goedele Verreydt, Tim Op ’t Eyndt and Filip Meester launched their innovative technology. The new investment will also be used for the expansion of the team as well as the digitalisation of the technology.
“Groundwater is only the beginning of our story. Our ambition with iFLUX is capturing the spread of process parameters and environmental pollutants throughout the entire water chain” says Goedele Verreydt, creator of the technology.“ That is why we are currently integrating our measurement method into a real-time sensing application, to be able to provide unique data that helps manage groundwater in a quicker and more efficient way. We are evolving from contamination control in groundwater to surface water, water purification, process flow, and prevention. Our ambition is to become the company of choice for the monitoring of fluxes in any aqueous environment.”
1,36 million euros
From now on, the development of the iFLUX-technology and the expansion of its market share will be supported by 2 large funds. Qbic II (the Belgian interuniversity venture capital fund) led this funding round. “We see great potential in iFLUX’ story. There is compelling evidence that the technology works in the fight against groundwater pollution, and by developing the real-time sensor they can also play a crucial role in evolving towards Smart Water Grids” says Sofie Baeten of Qbic II.
Together with VMH (the investment fund of the Flemish Government), the University of Antwerp, a group of historical investors, Qbic II is investing 1.36 million euros. “Drinking water is a scarce commodity. We therefore need to ensure that the quality of our water sources is good and remains that way. By using this new Flemish technology we can take a step further in protecting our groundwater. With the support of VMH this company can continue developing and further spread Flemish technology abroad.” – Flemish minister of Environment, Nature, and Agriculture Koen Van den Heuvel