What is Elastec?
Elastec designs, develops, and distributes a comprehensive range of environmental products, including advanced oil spill response equipment, floating containment booms, and barriers. With a legacy of innovation dating back to the invention of the drum skimmer in 1990, Elastec has established itself as a leader in environmental cleanup solutions. The company's extensive portfolio features oil skimmers, various types of oil boom, boom reels, and specialized equipment like the Hydro-Fire® Boom, which holds a GUINNESS WORLD RECORDS title for its performance during the Deepwater Horizon disaster. Elastec's commitment to a cleaner world is evident in its diverse product line, which also includes trash and debris management devices.
How much funding has Elastec raised?
Elastec has raised a total of $2.1M across 2 funding rounds:
Debt
$1M
Debt
$1.1M
Debt (2020): $1M with participation from PPP
Debt (2021): $1.1M led by PPP
Key Investors in Elastec
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for Elastec?
The recent major strategic investment indicates a pivotal growth phase for Elastec, likely enabling the company to expand its manufacturing capabilities, enhance its research and development efforts, and broaden its market reach. This strategic backing is expected to fuel further innovation in environmental cleanup technology, reinforcing Elastec's position as a key player in addressing global environmental challenges. The company is poised to leverage this capital to scale its operations and solidify its impact on environmental preservation.
See full Elastec company page
