Tel-Aviv, Israel, 1 August 2012 – Aqwise, a leading provider of advanced water and wastewater treatment solutions, today announced that it has raised $4.5 million in a financing round led by new strategic investor – Triveni Engineering & Industries, a publicly traded industrial group based in India, with a fast growing water division focused on high-end technology projects.
The financing round reinforces Aqwise’s rapid growth trend in recent years. The investment will enable the company to further expand its global presence and market reach, and to focus on its extensive research & development program, thus maintaining its leading-edge position in the implementation of biological processes for cost-effective and environmentally-friendly treatment of potable and wastewater streams.
In the past few years, Aqwise increased its global activity and currently operates through local representatives and partnerships in more than 30 countries, with approximately 200 municipal and industrial installations worldwide. In India, Aqwise’s technology is implemented in a large-scale surface water purification project, treating daily over 150,000 cubic meters of water from the Yamuna River. This project alone is set to provide clean drinking water to over two million inhabitants of the city of Agra, home of the famous Taj Mahal.
The company’s latest innovative solutions focus on the usage of Aqwise core AGAR® technolgy, based on Moving Bed Biological Reactor (MBBR) processes, in diverse segments and high-end applications. In this context, 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.
Aqwise has won growing global recognition for its innovative technologies. For the fourth consecutive year, Aqwise was named as one of Deloitte’s Israeli Fast 50 Technology companies, and Deloitte’s Fast 500 Technology for the EMEA region. It also won recognition for the third consecutive year at The Guardian’s and The Cleantech Group’s “Global Cleantech 100” prestigious list.
Mr. Nikhil Sawhney, Director of Triveni Group said, “We are thrilled to join a global technological leader in the field of water and wastewater treatment. 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”.
“This is a vote of confidence from a strategic investor in one of the world’s fastest-growing markets for water treatment”, says Elad Frenkel, Aqwise’s CEO, “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”.
Poalim Capital Markets served as the sole financial advisor for this deal.