Category: Investment, Water
Amsterdam - July 22, 2015 (www.waternewswire.com) Environmental Technologies Fund has led a €5m B-Round in Voltea Ltd, the world leader in capacitive water desalination. The round was joined by existing investors Pentair, Unilever Ventures and Anterra Capital. The financing will underpin the company’s continuing rapid expansion into the industrial water recycling market.
Voltea’s Capacitive Deionization (CapDI© ) devices remove salts and other dissolved solids from water simply by applying electric fields across the water flow. This lowers maintenance, energy and CAPEX compared to traditional approaches, which depend on high pressure or heat. Voltea’s technology recovers up to 90% of the input water, which is paramount in arid regions. The devices are highly modular and have been miniaturized to the size of a coffee cup. These advantages are leading to fast growth across four continents in applications ranging from large systems for industrial cooling towers and commercial laundries, to residential applications and even consumer appliances.
The global desalination equipment market is worth tens of billions and is growing at 10-20% per annum. Voltea’s technology enables an even larger market opportunity by making desalination economical in many new settings. “Voltea is clearly the pioneer in the space and owns all of the key patents. As we’ve lowered costs, we have seen demand increase rapidly. There is now a great commercial opportunity ahead of us.” says Bryan Brister, CEO of Voltea. “Environmental Technologies Fund impressed us with their common sense practical approach, which already had an impact even before the deal was signed. Environmental Technologies Fund will add a lot of value as we continue to grow the business.”
Arne Morteani, of the Environmental Technologies Fund, adds: “We have known Voltea almost since its inception. Starting from a piece of impressive technology, the team has done a fantastic job in developing a thriving business. We look forward to helping grow the business and creating value for the team and shareholders.”
Voltea has been delivering electrochemical water-conditioning equipment to institutional, commercial and industrial customers for over 6 years. Voltea’s CapDI© systems remove dissolved salts from water using electricity at a lower economic and environmental cost than any other available technology. Voltea was recognized as one of the 21 Technology Pioneers 2013 at the World Economic Forum, listed in the 2011 Global Cleantech 100 and won the best new technology award at the 2010 Global Water Summit.
For further information see www.voltea.com
About Environmental Technologies Fund
Environmental Technologies Fund is a leading growth capital investment fund investing in some of the most exciting growth companies in Europe. Environmental Technologies Fund supports companies whose products and services deliver a significant environmental and economic benefit. The team is backed by leading institutional investors and has a great deal of experience gathered over decades of working in growth capital and with environmental companies.
Environmental Technologies Fund 2 L.P. is supported by the European Union through the ‘Competitiveness and Innovation Framework Programme’ (CIP).
For further information see www.etf.eu.com
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Published at Water Newswire 2011