Wastewater treatment co Aqwise raises $4.5m

Aqwise has raised the funds from Triveni Engineering & Industries, a publicly traded Indian company.

Water and wastewater treatment solutions company Aqwise has raised $4.5 million in a financing round led by Triveni Engineering & Industries, a new strategic investor. Triveni is a publicly traded industrial group based in India, with a fast growing water division focused on high-end technology projects.

Aqwise said that the investment will enable the company to further expand its global presence and market reach, and to focus on its R&D program for cost-effective and environmentally-friendly treatment of potable and wastewater streams.

Aqwise's previous investors are AHMSA Steel Israel Ltd., IDB Holding Corp. Ltd. (TASE:IDBH) unit Elron Electronic Industries Ltd. (TASE: ELRN), and Israel Cleantech Ventures Funds.

Aqwise provides biofilm-based biological processes designed to increase the capacity and efficiency of BOD and nutrient removal in water and wastewater treatment plants. Aqwises AGAR technology is used worldwide for rapid, scalable and economical upgrade of existing plants as well as for new plants which require a limited footprint and process stability.

Aqwise currently operates through local representatives and partnerships in more than 30 countries, with about 200 municipal and industrial installations worldwide. In India, Aqwise's technology is implemented in a large-scale surface water purification project treating over 150,000 cubic meters of water per day from the Yamuna River. This project will provide clean drinking water to over two million inhabitants of Agra, home of the Taj Mahal.

Aqwise recently launched Aqana, a joint venture based in the Netherlands, which was established following a successful joint development plan in the framework of the Eureka R&D funding and support program. Aqana is globally commercializing the DANA and DACS Solutions - innovative integrated anaerobic and aerobic processes for complete wastewater treatment and efficient energy recovery, targeting high organic load industrial applications.

For the fourth consecutive year, Aqwise was recently named as one of Deloittes Israeli Fast 50 Technology companies, and Deloittes Fast 500 Technology for the EMEA region. The company also won recognition for the third consecutive year at The Guardians and The Cleantech Groups Global Cleantech 100 prestigious list.

Triveni Group director Nikhil Sawhney said, "We view this investment as highly synergetic to our Water Business Group, and see immense potential for Aqwise's cutting-edge biological processes in India, as well as in other developing markets."

Aqwise CEO Elad Frenkel said, This is a vote of confidence from a strategic investor in one of the world's fastest-growing markets for water treatment. After securing this type of investment, especially during the current global financial atmosphere, Aqwise is well-positioned to meet its next business and technological challenges. Aqwise is committed to stay in the forefront of innovative water technologies implementation and development."

Published by Globes [online], Israel business news - www.globes-online.com - on August 2, 2012

Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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