Advanced Electron Beams (AEB), whose compact electron beam technology helps traditional manufacturers become more environmentally sustainable while improving profitability, has closed a $14.2m Series C financing.
The round was led by Flagship Ventures with participation from existing investors: GE, Atlas Venture, General Catalyst Partners, RockPort Capital Partners and Agman Partners.
AEB replaces traditional thermal and chemical production processes with its compact electron beam emitters that harness electrons to enable cleaner, less expensive and more efficient production.
The latest funding will help accelerate sales growth in sustainable packaging markets and develop new electron beam applications to support clean, energy-efficient manufacturing.
“This investment supports the development of AEB’s transformational technology, which makes industrial processing more environmentally sustainable and more profitable,” said Mitch Tyson, CEO of AEB. “With increased attention toward improving industrial energy efficiency of traditional manufacturers, AEB is delivering solutions that enable the green factory of the future.”
This latest round brings AEB’s total funds raised to more than $50m since October 2005.
Founded in 2000, Flagship Ventures manages over $600m in early stage funds and operates from its offices at Kendall Square in Cambridge, Massachusetts.
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