Listen to this articleVia Separations has secured $36 million in new funding, led by strategic investors including Climate Investment, Aramco Ventures, and Marathon Petroleum Corporation, to accelerate the commercial expansion of its energy efficient graphene-oxide membrane technology from pulp and paper into the much larger refining and chemicals sectors.
Via Separations has raised $36 million in a new funding round to accelerate the commercial rollout of its modular membrane filtration platform, with a primary focus on expanding from its established base in pulp and paper into the significantly larger refining and chemicals markets. The round includes new strategic investors Climate Investment (CI), Aramco Ventures, and Marathon Petroleum Corporation, joined by existing backers Embark Ventures, The Grantham Foundation for the Protection of the Environment, Massachusetts Clean Energy Center (MassCEC), and Safar Partners. Proceeds will directly support deployment of additional commercial projects, expansion of manufacturing capacity, and scaling of the product portfolio across sectors.
What is Via Separations?
The company, an MIT spinout headquartered in Watertown, Massachusetts, has developed a proprietary graphene-oxide based membrane technology that replaces energy intensive thermal (heat based) separations with mechanically driven, electrified filtration systems. These membranes integrate directly into existing industrial equipment as drop-in modular units, delivering up to 90 percent energy reduction while improving uptime, operational resilience, and overall process efficiency. Thermal separations currently account for roughly 12-15 percent of global energy consumption and represent a persistent bottleneck in manufacturing, driving fuel and steam demand. Via’s approach addresses this by enabling electrification, which aligns with broader industrial decarbonization goals and unlocks additional production capacity without requiring new greenfield assets.
This funding builds directly on Via’s proven commercial performance in pulp and paper. Its first full scale deployment, Project Kodiak (a black liquor concentration system installed at a mill in Grande Prairie, Alberta, in collaboration with International Paper) has now logged nearly two years of continuous operation, with public data confirming achievement of performance targets for energy savings and reliability. The company also completed a successful pilot at a major Gulf Coast refinery in 2025, providing critical validation in the refining environment. These milestones have created a robust commercial pipeline, with hundreds of millions of dollars in identified capital projects for refining and chemicals already under discussion or in advanced stages.
The strategic expansion into refining and chemicals is particularly significant. These sectors dwarf pulp and paper in scale and energy intensity, offering a multi billion dollar addressable market for membrane based separations. Refining and chemical processing rely heavily on distillation and evaporation steps that consume vast amounts of heat; Via’s platform introduces a practical, retrofit friendly alternative that reduces emissions, lowers operating costs, and enhances asset utilization. New investors from the energy sector, Aramco Ventures and Marathon Petroleum Corporation, signal strong industry conviction in the technology’s ability to deliver both economic and environmental returns at scale. Climate Investment and Grantham further underscore the dual focus on decarbonization and measurable greenhouse gas reductions.
CEO Shreya Dave emphasized the progression: the company has used its pulp and paper success to de-risk the platform, positioning it for rapid adoption in heavier industries. Manufacturing scale-up is a core use of proceeds, ensuring the membranes can be produced at volumes required for multi site deployments while maintaining the durability needed for harsh chemical environments.
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From an investment and operational standpoint, the round strengthens Via’s position in a capital intensive space. Earlier financings, including a $38 million Series B in 2021 and substantial non dilutive support such as a $46.6 million DOE award in 2024, have already funded technology maturation and initial deployments. This latest infusion provides the runway to convert the pipeline into revenue generating projects, accelerate global market entry, and solidify leadership in electrified industrial separations. The involvement of strategic corporate and climate investors also creates potential for deeper partnerships, co-development opportunities, and faster customer acquisition in target sectors.
The $36 million round marks a pivotal inflection for Via Separations. It transitions the company from technology validation to scaled commercialization across high impact industries, leveraging proven performance to address one of the most intractable sources of industrial energy use and emissions. With modular integration, demonstrated reliability at commercial scale, and now expanded manufacturing and deployment capacity, Via is positioned to deliver tangible cost savings, capacity gains, and decarbonization benefits to operators while capturing a substantial share of the global shift toward efficient, electrified manufacturing processes.
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