HAYWARD, Calif. — Microvi Biotechnologies Inc. announced it has successfully closed Series B funding to help accelerate Microvi’s growth as it continues commercial projects using the company’s wastewater, water and biobased product solutions, according to a press release.

The investment firm, SKion GmbH, acquired a minority stake in Microvi, stated the release.

The release reported that SKion GmbH, the investment company of German entrepreneur Susanne Klatten, invests in innovative technologies in various sectors such as water and material sciences.

"We are excited to be working with SKion, an innovative and forward-thinking group that shares our vision of bringing Microvi's transformative, sustainable biological solutions to the market to solve some of the world's most pressing challenges," said Microvi CEO Fatemeh Shirazi.

Microvi has developed biocatalysts for organics removal, sewage treatment, metals removal, ethanol production and other biobased products and water solutions, noted the release.

You can find the release here.