Holliston Firm Clinches $3M For Clean Air Biz
Businesses often find federal standards for clean air cumbersome, but one Holliston company is thriving with them.
Rypos, a clean air technology company that makes self-cleaning filters for diesel engines that provide backup power to large facilities, freight refrigerators and cargo port cranes , is a fairly young firm with a steep growth trajectory.
Don Simoneau, senior vice president of operations and chief financial officer at Rypos, said that's thanks to strong regulatory support for the company's products.
Clean Air Regs 'Mapped Out For Years'
In the foreseeable future, Rypos expects demand for its filters to be constant. "The regulations get more stringent as the years come and are mapped out for years ahead," Simoneau said, of the rules laid out by the federal Environmental Protection Agency and the California Air Resources Board, which governs air quality standards for the State of California.
Rypos was founded in 1997 but kept a low-profile, carrying out research and development over a decade. The founders were searching for a smart way to remove black soot from diesel engine emissions.
After arriving at its patented, self-cleaning filters and proprietary catalytic technologies, Rypos products? went commercial in 2007 and has stayed in growth mode since.
Now with 40 employees at its Holliston headquarters, Rypos is poised for expansion. The company received a new round of venture financing — $3 million for hiring, increasing inventory and beefing up manufacturing and customer support from Connecticut-based Horizon Technology Finance Corp., Simoneau said. He declined to say how many employees Rypos may add, but said hiring is underway.
"It's kind of broad-based support of the business," Simoneau said, of the venture debt. It is the third round of financing for the company.
Taking Filters Across The Pond
Rypos has already made a name for itself in the United States and beyond. In addition to hundreds of domestic clients, Rypos landed a high-profile contract overseas for the first time when it was hired to provide diesel emissions filters for power generators used at the 2012 Summer Olympics in London.
"Nobody else could do what they wanted to do," Simoneau said.
Image source: Freedigitalphotos.net
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