FMC Corporation announced the company has acquired the assets of Adventus Intellectual Property from Covington Capital Corporation and VentureLink Innovation Fund Inc.
Adventus has a portfolio of specialty remediation technologies used in soil and ground water.
Adventus presents an exceptional opportunity for FMC to broaden its growing portfolio of advanced specialty solutions serving the global site remediation market," said Mark Douglas, president of FMC Industrial Chemicals.
"Meeting current and future regulations for clean water, air, and soil will demand novel technologies and sustainable solutions," Douglas added. "Today's announcement will expand FMC's current portfolio of advanced peroxygen-based products for soil and groundwater remediation and air pollution abatement."
Adventus, a Canadian corporation located in Mississauga, Ontario, holds patents and intellectual property related to bioremediation technology for chlorinated organic compounds, pesticides and hazardous metals.
Terms of the transaction were not disclosed.