Peter DeCaprio & Grady Kittrell of FlowPoint Partners have made an investment of $1MM in Puraclenz®, whose patented line of ozone-free purifiers proactively deactivate viruses mid-air, at a fraction of the cost of traditional systems.
BOSTON, July 13, 2022 /PRNewswire-PRWeb/ -- Peter DeCaprio, The President & CEO of FlowPoint Partners LLC a Boston and Florida-based multi-family office, has announced a $1.0 million investment in tech startup Puraclenz®. In speaking about their investment, FlowPoint managing partners Peter DeCaprio and Grady Kittrell noted that the Puraclenz® team and their demonstrated history of success in the consumer products space was "a great fit for our private investment vehicle, the Essex Street Opportunities Fund".
Inspired by photocatalytic oxidation technology (PCO), which initially provided the International Space Station with clean air, Puraclenz® has developed a patented line of ozone-free purifiers capable of proactively deactivating viruses mid-air at a fraction of the cost of traditional systems.
Puraclenz™ Co-Founder and CEO Chris Dooley remarked "We are grateful to FlowPoint for its faith in our vision as well as our technology. Peter DeCaprio and his team have structured a unique debt/equity offering that provides our company with essential funding as we move to scale".
FlowPoint's Kittrell went on to state; "With respect to our capital deployments, venture debt has been our primary focus for some time. Companies like Puraclenz®, far along in their product development cycle, yet still in need of debt financing at an affordable cost, mesh well within our platform. And for Essex Street, it's all about structuring debt properly, enhancing our partner companies' financial flexibility, and providing our team with the protections we require as their lender." Since its inception in 2020, Essex Street has made seven investments in varied industries, with Puraclenz® being the third-largest to date.
The Puraclenz™ team is led by Co-Founder & CEO Chris Dooley, Co-Founder & Executive Chairman Wendell Minnick, along with VP of R&D Jerrod Keith. The three Puraclenz® executives have over eight decades of experience developing and launching consumer and industrial products (many protected by Global Patents) that apply advanced materials and proprietary designs that are utilized by both large Fortune 500 companies as well as smaller early-stage companies.
For additional information about Puraclenz®, please visit http://www.puraclenz.com.
For additional information regarding FlowPoint Partners, LLC, please visit http://www.fppinvest.com.
FlowPoint Press Contact: Peter DeCaprio; [email protected]
Puraclenz Press Contact: Wendell Minnick; [email protected]
Media Contact
Peter DeCaprio, FlowPoint Partners, 1 (617) 235-5820, [email protected]
SOURCE FlowPoint Partners
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