Fibracast Announces Closing of $44.6 Million Round
Fibracast a leading developer and manufacturer of innovative membrane technologies for advanced water and wastewater treatment, announced today that it has closed a $44.6 million issue of Class A Preferred Shares. Fibracast is pleased to announce that the raise included both existing shareholders and institutional investors for the first time. This investor group was led by Cycle Capital and included Export Development Canada (EDC). With this financing, the board will be revamped to reflect this institutional participation and to increase the number of independent directors.