Pulaski, Virginia, September 13, 2023 – MOVA Technologies is thrilled to announce the successful conclusion of its Friends and Family Seed Round, which has resulted in the raising of $2 million in private investment. This milestone marks a momentous step forward for the climate-smart company as it continues to pioneer innovations in the fields of agriculture and carbon capture.
John Schott, CEO of MOVA Technologies, expressed his gratitude for the overwhelming support from investors, stating, “We are incredibly grateful for the support of our investors and the trust they have placed in us. In this chapter, we will be expanding our team and bringing on new talent to help us achieve our vision to commercialize our panel bed system.”
The allocated funds will be strategically employed to foster innovation within MOVA’s primary sectors – agriculture and carbon capture. This will further enhance collaborations with the U.S. Department of Energy (USDOE) and the U.S. Department of Agriculture (USDA). The investment will be used for the acquisition of cutting-edge equipment for prototype development, scale-up, and testing, as well as the recruitment of technical talent for the Pulaski office, which includes researchers and engineers. Additionally, resources will be dedicated to expanding business development efforts within the core agriculture market.
MOVA Technologies has also solidified a strategic partnership with the Town and County of Pulaski, Virginia. This collaboration aligns with Pulaski County’s commitment to climate neutrality and positions it as a model for other localities embracing climate-friendly development. The joint venture promises to deliver substantial economic and workforce development benefits to the region, playing a pivotal role in rural revitalization through climate-smart technology adoption. It aims to address economic challenges while attracting new green-tech businesses and industries.
Steve Critchfield, President and Founder of MOVA Technologies Inc, emphasized the environmental impact of their innovation, stating, “Pollution like carbon dioxide and ammonia are valuable commodities for several other industries. Our system will sustainably harvest and sell these products – adding to the bottom line of our customers.”
This funding marks a significant leap forward in MOVA Technologies’ mission to combat climate change and pursue a sustainable, carbon-neutral future. MOVA anticipates launching another Seed Round early in 2024, with a fundraising goal of $1 million.
For media inquiries or further information, please contact:
Luke Allison, Director of Advancement
MOVA Technologies Inc.
Phone: (540)808-9452
Email: lallison@movatechnologies.com
About MOVA Technologies: MOVA Technologies is a forward-thinking company dedicated to developing cutting-edge solutions for carbon capture and climate change mitigation across multiple sectors. With its novel Selective Air Capture Technology, MOVA is revolutionizing the way pollutants are captured, making it more efficient and accessible for industries and communities. MOVA is committed to driving innovation in the climate tech sector and accelerating the transition to a sustainable, carbon-neutral future. Learn more at www.movatechnologies.com.
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