UK private equity fund Charles Street Securities Europe LLP (CSS Europe) has invested $9 million in Israeli sewage treatment start-up Mapal Green Energy Ltd..
The Nesher-based company, founded by Hanoch Magen, began commercial operations two years ago and has raised NIS 11 million. Investors include CEO David Azori.
Mapal uses floating treatment systems, directing bubbles into the wastewater reservoirs to accelerate the oxygenation of contaminants in the water, degrading them biologically.
Before the development of Mapal's technique, sewage treatment plants used giant, energy consuming fans to churn the water. Mapal says that its method cuts maintenance costs at municipal and industrial wastewater treatment plants by up to 80%.
Azori invested NIS 2 million in Mapal, and set up operations with local authorities and municipal water and sewage treatment companies. "Our technology is great news because it speeds up the breakdown of bacteria found in the treatment reservoirs without heavy use of energy, while maximizes environmental protection," said Azori.
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2010
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