A startup whose technology quickly detects forever chemicals won the Hard Tech category in the Rally pitch competition in Indianapolis and up to $1 million in venture funding.
Forever Analytical Inc., which is based in South Bend but also has operations in The Netherlands, bested four competitors at the Sept. 24-25 event at the Indiana Convention Center.
“Our team was honored to be a Rally finalist, but to win the competition was more than we imagined,” CEO Hunter MacMillan said in a news release. “The monetary prize is fantastic as it will fuel the growth of our lab and commercialization of our field systems. Equally important, Rally introduced Forever Analytical to many venture capitalists, potential strategic partners and industry influencers who are already making a difference for us.”
Forever Analytical helps address contamination by PFAs, a group of synthetic, potentially harmful chemicals used in a wide variety of household products and industrial processes. They often are described as forever chemicals because some don’t degrade naturally and are believed capable of lingering in the environment.
The company says its technology can detect PFAS in virtually any liquid or solid in less than three minutes, whereas traditional PFAS testing methodologies are limited.
“There are thousands of PFAS chemicals, and they’re everywhere—baby products, cosmetics, feminine hygiene products, firefighting gear, food packaging, water, wastewater, clothing and carpeting,” MacMillan said. “Regulations to limit the presence and use of PFAS are on the rise in North America and the European Union, putting companies and public entities at risk of fines or lawsuits.”
The company has launched an independent test lab for PFAS and other contaminants for clients in North America and the European Union and is commercializing field systems for real-time screening and monitoring at locations such as water and wastewater treatment plants and environmental site remediation projects, the news release said.
Forever Analytical’s technology was originally developed by Graham Peaslee, an applied nuclear physicist and professor emeritus at the University of Notre Dame, the news release said. He now serves as the company’s chief scientific officer.
The pitch competition is the centerpiece of an annual global innovation conference, called RAllY, held in Indianapolis that attracts entrepreneurs, venture capitalists, technologists, and others seeking to connect. It is hosted by Elevate Ventures, Innopower and Prolific.
The pitch competition featured 25 finalists across five categories competing for a total prize amount of up to $5 million.