Hillwood backs Dallas startup Hexivon to destroy PFAS "forever chemicals" in water
What's the deal? Hexivon, a Dallas-based water technology company, has raised early-stage venture funding from Hillwood, a Perot company. The startup destroys polyfluoroalkyl substances (PFAS) — known as "forever chemicals" — in water rather than just filtering them out. The deal expands Hillwood's infrastructure portfolio into advanced water technologies.
What's the endgame? Most treatments move PFAS around: carbon filters, ion exchange, and reverse osmosis pull the chemicals out but leave waste that must be hauled off and stored. Hexivon instead breaks the chemicals apart on site at any ambient temperature, leaving nothing harmful behind.
In a 2025 pilot in Cary, North Carolina, drinking water tested at 40 parts per trillion of PFAS. After treatment, levels were non-detectable — cleaning 150,000 gallons per day with zero waste, verified by independent, EPA-certified labs.
Why now? Demand for PFAS treatment is rising fast, driven by new federal regulations and more water investment. In Texas, House Bill 500 sent over $1 billion to the Texas Water Development Board for water projects, including PFAS cleanup. Across Dallas-Fort Worth, 29 public water systems have exceeded EPA standards for PFAS.
The two firms plan to accelerate deployment of PFAS destruction systems for municipal, industrial, and government customers across the US. Hexivon values Hillwood's reach beyond capital.
"Their experience developing complex infrastructure projects, working with public-sector stakeholders and deploying long-term investment capital makes them an ideal strategic partner as we accelerate commercialisation of our PFAS destruction technology," said Kevin Boscamp, chairman of Hexivon.
What could go wrong? The technology's track record rests largely on a single pilot, and scaling from 150,000 gallons a day to nationwide municipal systems is unproven. Adoption also depends heavily on regulatory momentum and public funding that could shift.
The signal: Investors are treating PFAS removal as an infrastructure category, not a niche. With federal rules tightening and state money flowing, real estate and infrastructure players like Hillwood see water treatment as the next long-duration bet.
Read more: PR Newswire
Image credit: USACE Afghanistan Engineer District-South
