Clear River Enviro, an i2E portfolio company, is out to revolutionize the disposal of pharmaceutical waste in surgery centers and hospitals.
The standard is hiring a third party to come pick up barrels of chemicals and transport them to a medical chemical waste incinerator in another state.
Clear River’s solution is a patented portable device, called RxDestructTM, that uses a unique chemical process to break up molecules in pharmaceutical waste and render them safe for the environment. These chemicals are rendered inert and can be poured down the sink in the operating room.
i2E, Inc. led a $1.5 million Series A investment round in Clear River Enviro, Inc. in November 2017. The investment round included funds from the Oklahoma Seed Capital Fund, Accelerate Oklahoma Fund, Oklahoma Angel Fund I, and members of the SeedStep Angels group.
In late 2019, i2E Management Company, Inc. led a $0.8M convertible note follow on round of financing with participation from the Oklahoma Seed Capital Fund, members of the SeedStep Angels group and private investors.
About i2E and iMCI
i2E Management Company, Inc. (iMCI) is a private, for profit investment and fund management company operating as a wholly owned subsidiary of i2E, Inc. iMCI currently manages $88 million across five venture funds. iMCI makes investment decisions and provides investment management as General Partner and/or Managing Member of a growing number of privately managed venture capital funds. Since 2007, iMCI and i2E, Inc. have invested more than $58 million into 56 companies representing seed-stage to early-stage venture capital investments across many different industries including the life sciences and software/IT.