Via Separations, a Watertown, MA-based provider of process solutions for industrial separations, has raised $36 million in a new funding series led by Climate Investment, Aramco Ventures, and Marathon Petroleum Corporation.
The round also saw participation from Embark Ventures, The Grantham Foundation for the Protection of the Environment, Massachusetts Clean Energy Centre (MassCEC), and Safar Partners.
The company plans to use the funds to speed up the rollout of its modular filtration platform in the refining and chemical industries, building on proven success in pulp and paper to help operators save energy, boost uptime, improve resilience, and reduce emissions.
Via uses modular filtration systems to replace heat-based chemical separations, cutting energy use by up to 90%. Traditional thermal separation consumes about 12% of global energy, so Via’s mechanically driven membrane process lowers fuel and steam needs, reduces costs, increases uptime, and supports energy efficiency and electrification.
The technology has been proven at commercial scale in the pulp and paper sector, running nearly two years continuously at a mill in Grande Prairie, Alberta, Canada. Via is now expanding into refining and chemicals, with hundreds of millions in projects underway, including a pilot completed at a major Gulf Coast refinery last year.
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“Thermal separations are one of the biggest and least solved sources of industrial energy use,” said Mike Bishop, Investment Director at Climate Investment. Via’s membrane technology brings electrification to processes that have relied on heat for over a century. By fitting into existing equipment, it offers a practical way to cut energy use, improve reliability, and lower emissions.”
“At Aramco Ventures, we back technologies that deliver real value at scale,” said Tibor Toth, Senior Investment Director at Aramco Ventures. Via’s modular platform improves a key step in industrial processing and can boost efficiency and capacity in refining and chemical operations.
“By proving our technology in one sector, we are ready to expand into the larger refining and chemicals markets,” said Shreya Dave, CEO of Via Separations. “This investment helps us deliver more commercial projects, increase manufacturing, and accelerate global adoption of membrane-based separations.”
About Via Separations
Founded in 2017 by Shreya Dave and based in Watertown, Massachusetts, Via Separations is a spinout from the Massachusetts Institute of Technology. The company uses filtration technology to electrify chemical separations, helping industrial customers cut energy use by up to 90% while saving costs and improving operations. Via is backed by investors such as Embark Ventures, The Grantham Foundation for the Protection of the Environment, Massachusetts Clean Energy Centre (MassCEC), and Safar Partners.
About Climate Investment
Founded in 2016, Climate Investment (CI) is an independent investor focused on reducing industrial emissions, providing venture to growth-stage funding to innovative companies and working with industry partners to scale technologies, create value, and cut greenhouse gas emissions; since starting operations in 2017, CI has invested in over 40 climate tech companies across energy, transport, buildings, and industry, helping deliver a total reduction of 133 million tonnes of CO2e between 2019 and 2024.
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