LONDON - February 15, 2019 (www.waternewswire.com) Pentair plc (NYSE:PNR), a leading water treatment company, announced today that it has closed a minority investment in Aqua Membranes. The patented 3D printed spacer technology of Aqua Membranes enables performance improvement in spiral wound elements used in reverse osmosis ("RO") membrane applications, including residential and commercial water filtration.
Collaboration with Aqua Membranes offers potential to provide @Pentair customers with more sustainable and lower cost water treatment solutions.
"Aqua Membranes' strong portfolio of intellectual property and its developmental track record, combined with Pentair's technical expertise in water treatment technologies, will allow us to expand our customer offerings in the residential and commercial water treatment arena," said Phil Rolchigo, Pentair Executive Vice President and Chief Technology Officer. "This investment aligns with our innovation roadmap and has the potential to provide our customers with more sustainable and lower cost water treatment solutions."
Aqua Membranes has developed a patented process to print dimensional polymer shapes directly on flat sheet RO membrane, which replaces conventional feed mesh. The printed spacer material is fully customizable by application and market and has the potential to lower cost and reduce waste of water resources. This technology creates new possibilities for the spiral wound element market, which has remained largely unchanged for the last several decades.
"We are very excited to have Pentair lead our Series A investment round," said Craig Beckman, Chief Executive Officer of Aqua Membranes. "Pentair's technology is a leader when it comes to minimizing water waste from home RO systems. This collaboration will enable us to commercialize and further improve the efficiency of this technology that can protect families from contaminated water with a more sustainable product. It's only the beginning of our potential to develop even more cutting edge products together in the future."
ABOUT PENTAIR PLC
At Pentair, we believe the health of our world depends on reliable access to clean water. We deliver a comprehensive range of smart, sustainable water solutions to homes, business and industry around the world. Our industry leading and proven portfolio of solutions enables our customers to access clean, safe water. Whether it's improving, moving or enjoying water, we help manage the world's most precious resource. Smart, Sustainable Water Solutions. For Life.
Pentair had revenue in 2018 of $3 billion, and trades under the ticker symbol PNR. With approximately 130 locations in 34 countries and 10,000 employees, we believe that the future of water depends on us. To learn more, visit Pentair.com.
ABOUT AQUA MEMBRANES
Founded in 2011, Aqua Membranes is revolutionizing RO membrane filtration with its unique printed spacer technology. Polymer is applied directly to flat sheet membrane to create a customized raised pattern that replaces conventional extruded mesh feed spacers. Unlike traditional membrane spacers that trap particles and biofilm within the spacer mesh and thereby obstruct flow, the printed dimensional spacers optimize flow patterns and turbulence throughout the membrane element, minimizing the entrapment of particulates and organic fouling. Printed spacer technology also increases permeate flow, improves flux and recovery, minimizes system pressure drop and extends the operational life of a membrane element.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made about the equity investment, including the anticipated benefits of the equity investment, are forward-looking statements subject to risks and uncertainties, such as the failure of markets to accept new product introductions and enhancements, as well as other risk factors contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2017. All forward-looking statements speak only as of the date of this release. Pentair plc assumes no obligation, and disclaims any obligation, to update the information contained in this release.
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