SterAssure receives investment from South Carolina agency

The South Carolina Research Authority (SCRA) entrepreneurial program known as SC Launch Inc. has finalized an investment of $200,000 in Greenville, South Carolina-based SterAssure Solutions. That company claims it has developed a technology that provides an efficient solution for disposing of medical waste generated at health care facilities.

The SCRA investment, made Dec. 14, 2017, will be used to assist in the growth and development of the company.

Prior to receiving the investment, SterAssure Solutions went through a due diligence process with SCRA where it was vetted by the authority’s board. A spokeswoman for the SCRA notes that while there are no particular criteria that the company needs to match, it does look at the number of jobs, the potential for follow-on investments, scalability and other factors during the research.

SterAssure received a $40,000 Acceleration Grant in May 2017, which was used to complete beta testing. The company says its onsite disposal system transforms biohazardous medical waste into solid waste.

“Working with SCRA’s entrepreneurial program, SC Launch has not only been a pleasure, but also educational,” says Peter Kapetanakos, SterAssure’s CEO. “Every person we have been exposed to at SCRA has been professional and eager to help in the process. With the team’s advice, we have begun to move the company forward in the market.”

SCRA is a state-chartered organization designed to foster job creation and grow South Carolina’s “innovation economy.” The SC Launch program is SCRA’s platform to provide mentoring, grants and investments to what it determines are qualified South Carolina companies.