Oil Purification Systems raises $2.5M, names new CEO

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Oil Purification Systems, a provider of fluid cleaning technology, announced Tuesday, June 9, that it has secured $2.5 million in funding. The Shelton, Conn.-based company also announced that chief operating officer Greg Slawson has been appointed as the company’s new chief executive officer.

OPS’ family of fluid-cleaning products are designed to virtually eliminate the need for routine oil changes by removing the solid and liquid contaminants from engine oil, providing savings for fleets. The company says the latest round of funding from Atlantic Capital Group, Sterling Passive Investments, RDA Ventures, USA Fund and Connecticut Innovations will enable it to further expand its product offerings into existing and new industries, and provide increased support for its customer base.

Slawson has more than 20 years of automotive industry, consulting and software experience, focused on the supply chain and logistics management. Prior to joining OPS, Slawson was vice president of automotive solutions for Global Logistics Technologies (G-Log). He also has held a variety of positions at Ford Motor Co., Visteon Automotive Systems and Deloitte Consulting. Slawson is a recognized leader in supply chain logistics, is a regular speaker at industry conferences and has authored numerous articles.

“OPS’ products continue to gain acceptance in a growing number of industries,” Slawson says. “This latest round of funding enables us to increase our efforts in developing even better products in the future that will help our customers and potential customers save more money in oil maintenance costs, while also decreasing the negative effects that oil waste can have on the environment.”