Advanced water treatment solutions provider Desalitech Ltd. has raised $6.25 million in a second financing round led by global private equity fund Liberation Capital LLC. The investment will be used for expanding Desalitech's business and working capital. Liberation said that it would also be supporting Desalitech with considerable project finance capital.
Desalitech is commercializing next-generation Reverse Osmosis (RO) water treatment solutions. The company claims that its proprietary Closed Circuit Desalination (CCD) technology reduces cost by 20% or more, by reducing energy consumption and capital costs, improving process reliability and flexibility, and reducing the emission of brine waste by raising recovery. The CCD process is capable of achieving high recoveries, even in problematic water sources, and Desalitech says that this can change the economics of a water treatment project dramatically. These proven advantages, Desalitech says, make its solutions alternatives for industrial and municipal water treatment and wastewater reuse applications, and for brackish and sea water desalination.
Desalitech CEO and founder Prof. Nadav Efraty said, “Ever-increasing water stress, rising costs and increased discharge restrictions are some of the industry’s most difficult and important challenges. Solving these problems is what Desalitech is all about. Liberation Capital is providing the growth capital we need for product commercialization as well as the project finance that will allow us to create a service-oriented business model. As importantly, the deep industry domain knowledge brought by the Liberation team and their experience in growing global businesses will help us focus our strategy and scale our business as we grow.”
In 2008, the company received a $3 million venture capital investment from AquAgro Fund. Over 75 patents have been granted on the technology, and commercial CCD installations have run continuously for over three years.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2012
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