Green chemistry startup Tidal Vision has raised more than $20 million and last month announced the acquisition of one of its customers for an undisclosed sum.
The Bellingham, Wash.-based business turns waste crab shells into a versatile, biodegradable polymer called chitosan (pronounced “kite-osan”) that can be used for wide-ranging industrial purposes. That includes water purification, replacing flame retardants and PFAS “forever chemicals” in clothing, and improving the uptake of fertilizers by plants.
Launched in 2015 by a former Alaska fisherman, Tidal Vision has landed $30 million in investments to date and employs 80 people.
“Our mission is to try to create positive and systemic environmental impact by making these chitosan technologies applicable for mass adoption, where they’ve historically only been available for niche applications,” said co-founder and CEO Craig Kasberg.
An acquisition: Tidal Vision added roughly 100 employees when it acquired Everett, Wash.-based Clear Water Services, a business providing water cleaning devices and services. The company was an early customer for Tidal Vision’s cleaning chemicals.
Clear Water Services has additional offices in California, Michigan and Florida, with water treatment systems deployed at more than 200 locations.
Tidal Vision has production sites in Bellingham and South Carolina, and a small research facility in India.
The tech: The startup uses a proprietary process to extract chitosan from crab and other seafood shells. Kasberg said the company’s approach is unique for producing zero- waste, while competitors generate toxic byproducts. In addition to the chitosan, the process produces a nitrogen and calcium-rich byproduct that is mixed into fertilizer.
On the horizon: Tidal Vision is seeing significant growth, with net revenue increasing 80-to-100% year-over-year for the past three years.
Kasberg is looking to raise a growth equity round in the next six to nine months, and aiming for an IPO in the 2026-’28 time period.
