Investments
2
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Latest AFI Group News
May 4, 2023
AFI Group Adsorbent materials are utilized in various industrial processes like filtration, separation, drying, spill management, catalysis, and pollution control. Adsorption is a phenomenon that occurs on surfaces and is used to remove one substance from a combination of substances. The electrostatic force of attraction causes solid-liquid interaction when dissolved salts and solid adsorbents get into contact. Physisorption and chemisorption are two different types of electrostatic attraction. Adsorbent and adsorbate combine through Van Der Waal forces in physisorption, which is a reversible process. Adsorption is used to extract hydrocarbon vapors produced by gasoline using charcoal in a system known as a vehicle's "onboard" vapor recovery system. Adsorption is a crucial process in the petroleum industry. Sulfur from the oil can be recovered or removed using it. Adsorption plays a role in catalytic reactions as well. The process of adsorption makes it possible to remove a variety of toxins from wastewater. Adsorption can be used to treat waste gases. Numerous applications are used in a variety of sectors. With inexpensive adsorbent and effective regeneration techniques, there is room to reduce the costs associated with these activities. Increasing Demand for Waste Treatment Adsorbents used in the treatment of slurry of solid waste materials are activated carbon, and as a result, water is not able to desorb the target substances over time. The degree of adsorption and resistance to desorption must be determined by comprehensive testing. According to United Nations, in 2020, 56 % of global household wastewater flows were safely treated (estimated data from 128 countries representing 80% of the global population). To achieve Saudi Arabia's most important initiative "Vision 2030", water treatment plants are going to play major roles. Government agencies and private player are signing MOU to setup new plant or enhance the existing capacity of the region. In water treatment plant, adsorbent is used for the elimination of dissolved impurities such as oils, chemicals, tiny metal particles present in the wastewater. Activated carbon, chitosan, zeolite, and clay minerals are adsorbent that are frequently used in water treatment plants. Hence, the demand for adsorbent is expected to rise in the forecasted period. Rising Demand for Oxygen Concentrators Adsorbents that are capable of adsorbing carbon dioxide include activated carbon, carbon fibers, silica gel, activated alumina, zeolites, ion exchange resins, and layered double hydroxides. Pressure Swing Adsorption technology is used to separate the mixture of gas species under pressure, according to their molecular structure, properties, and affinity of the adsorbent. Zeolites are a class of crystalline substances with uniformly sized pores and a network of tunnels. Because zeolites can operate at higher temperatures and totally regenerate after adsorption, it is an effective adsorbent for many non-volatile (organic) substances. Flourishing Gas Refinery Activated carbon and silica gel are the major adsorbent used by gas refinery. In gas refinery, different methods or process are used to efficiently deal with a wide range of gas separations including gas purification, impurity removal, and separation in recycle streams. Saudi Arabia is ranked as sixth-largest natural gas producer worldwide. In 2020, the region recorded production of natural gas which was 30% higher from 2010, and this amounted to reach an average of 11 billion cubic feet/day. As the production of natural gas is rising, the region due to favorable demand scenario and government policies is expected to have significant growth in adsorbent market. Increasing Demand for Petroleum and Petrochemical Products Adsorbent in petrochemical industries is used for eliminating traces of contaminants like water and sulfur in raw, intermediate, and product streams. Saudi Arabia is a global leader in the production of petrochemicals and plastics which represent 35 percent of non-oil exports in the region. Furthermore, different petrochemical manufacturing project & plants are planned to establish in the region. Where, adsorbent is used to eliminate the detrimental contaminants and produce high-purity feedstocks for smooth functioning of the plant. All these factors, led to upsurge demand of adsorbent in petrochemical industry. New Technology Cellulose, hemicellulose, and lignin add to most agricultural waste. These substances are frequently used to remove pollutants from wastewater because they have been proven to be effective adsorbents. Due to their high carbon content, abundant availability, and inexpensive price with a wide range of applications. They have reportedly been used extensively to get rid of colors, heavy metals, and pharmaceutical pollutants. Few scientists have used agricultural waste to eliminate pharmaceutical contaminants over the past decade. Although, a small number of antibiotics could successfully eliminate using agricultural waste. Several agricultural wastes, including cocoa shells, wheat barns, and bamboo, have been successfully employed to create commercially viable adsorbents to remove some anti-inflammatory medications. Agro-industry is a type of economic activity that develops food products by fusing agricultural and industrial operations. Agro-industrial wastes are produced as a by product of this activity from raw material planting for its commercialization. Due to the high costs of eventual disposal, these pollutants become both an environmental and an economic burden. Over 72 million tonnes of agro-industrial waste are produced annually, with palm oil residues standing out. In the palm business, 17% of the weight of a bunch of fresh fruit is equivalent to fiber residues (around 500 t/year) that are not used. Making adsorbent materials is one common application for fiber. Report Scope: In this report, Saudi Arabia Adsorbents Market has been segmented into following categories, in addition to the industry trends which have also been detailed below: Saudi Arabia Adsorbents Market, By Type: Activated Carbon Petroleum Refining
AFI Group Investments
2 Investments
AFI Group has made 2 investments. Their latest investment was in Alfy as part of their Series B on August 8, 2000.

AFI Group Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
8/7/2000 | Series B | Alfy | $12M | Yes | ||
Other Investors |
Date | 8/7/2000 | |
---|---|---|
Round | Series B | Other Investors |
Company | Alfy | |
Amount | $12M | |
New? | Yes | |
Co-Investors | ||
Sources |
AFI Group Acquisitions
1 Acquisition
AFI Group acquired 1 company. Their latest acquisition was Clock Tower at Five Madison Avenue on June 11, 2007.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
6/11/2007 | Acquired |
Date | 6/11/2007 |
---|---|
Investment Stage | |
Companies | |
Valuation | |
Total Funding | |
Note | Acquired |
Sources |
AFI Group Team
2 Team Members
AFI Group has 2 team members, including former Chief Executive Officer, Avraham Novogrotcki.
Name | Work History | Title | Status |
---|---|---|---|
Avraham Novogrotcki | Chief Executive Officer | Former | |
Name | Avraham Novogrotcki | |
---|---|---|
Work History | ||
Title | Chief Executive Officer | |
Status | Former |
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