Tuesday, May 29, 2012
Kurion Acquires GeoMelt
Irvine-based Kurion, the venture-backed startup which has been instrumental in cleanups of the beleaguered Fukushima nuclear plant in Japan, reported this morning that it has acquired a company focused on stablizing radioactive materials. Kurion said it has acquired all of the assets of the GeoMelt business of Impact Services, Inc., along with associated licenses of GeoSafe Corporation, a subsidiary of Battelle. The technology is used for in-place processes to destroy hazardous organics and immobilize radioactive materials and heavy metals by turning them into glass, a process called vitrification. Vitrification is one of the methods that is being used in making radioactive materials safer to dispose of, move, and store. Financial terms of the deal were not disclosed. Kurion said the move will help it expand into dealing with nuclear, hazardous and mixed waste contaminated debris, soils and other materials. Kurion is venture backed by Lux Capital Management and Firelake Capital Management.