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Novazone Raises $10.6 Million

Novazone, a provider of ozone-based solutions to improve the safety and freshness of food and water, has closed its Series A round of financing. The financing was lead by Foundation Capital and accompanied by Keiretsu Forum, the largest North American angel investor network. The $10.6 million in funds from the round will be used to expand sales, marketing and engineering efforts. “Novazone has developed ozone-based purification solutions to kill organic contaminants such as bacteria, viruses, and mold spores without the use of toxic traditional chemical treatments,” said Mr. Weiss, General Partner at Foundation Capital. “We were attracted to the investment by Novazone’s technology, team, world-class customers such as Safeway, Pepsi, Coca-Cola and the real consumer and legislative market drivers that are demanding this type of offering.” With year-round, global sourcing, transportation and distribution comes an increase in the risk of both accidental and intentional contamination from microorganisms, pests and chemicals. Novazone couples applied food science with patented ozone technologies to provide an environmentally friendly means of reducing water and airborne pathogens without the use of harmful chemicals, making food and water safe and fresh naturally. Customers include industry leaders such as Coca-Cola, Pepsi Cola, Sun Pacific, Paramount Farms, Safeway, Colgate-Palmolive, […]

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JPMorgan Chase Announces Environmental Policy

Following pressure by environmental NGOs and shareholder groups, JPMorgan Chase announced it has adopted the Equator Principles, guidelines that restrict its lending and underwriting practices for industrial projects that negatively impact the environmental impact. The firm will apply the Principles to projects that are $10 million or above in environmentally sensitive industries, exceeding the threshold of $50 million set by the Equator Principles. In addition to the Equator Principles, the company’s new policy also addresses issues including climate change, sustainable forestry, the protection of critical natural habitats, illegal logging, and the needs and concerns of indigenous peoples. JP Morgan has committed to the following: * the firm will work with clients to develop new financial products that facilitate emissions reductions, conduct research into the financial implications of the rising cost of carbon, and deploy investment capital to businesses that reduce or mitigate greenhouse gases. * institute certain “no-go” criteria in forests whose high conservation values are endangered. In addition, the firm will not finance companies or projects that are knowingly engaged in illegal logging. Rainforest Action Network led the NGO effort. Shareholder groups involved include: Christian Brothers Investment Services, Domini Social Investments, F&C Asset Management, Friends of the Earth, and […]

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