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Delaware-based Compact Membrane Systems (CMS) has raised $16.5 million in a series A venture capital funding round. CMS, which specializes in fluoropolymer membranes, isn’t a start-up; it was spun off from DuPont in 1993. CMS has been developing membranes for olefin separations and carbon dioxide capture, targeting applications like steel and cement kilns. Prominent firms participated in the round, including Pangaea Ventures, Solvay Ventures, Chevron Technology Ventures, GC Ventures Americas, and Technip Energies.
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