Aquatech gets new Ex-Im Bank support

Desalination and water-reuse system manufacturer Aquatech International of Canonsburg, USA, has been given a US$ 37 million renewal of its loan facility from the US Export-Import Bank.

This will enable it to complete existing contracts and pursue new business.

The new loan facility, approved on 29 January 2009, will consolidate two earlier Ex-Im Bank facilities covering ongoing Aquatech business, including sales to Italy’s largest power company and a major oil field project in Oman, and also will support new Aquatech projects around the world.

“This financing will help sustain and potentially grow US jobs at Aquatech and its extended supply network at this critical economic time,” said Venkee Sharma, Aquatech president and CEO. “Aquatech’s near-20-year relationship with Ex-Im Bank clearly demonstrates the Bank’s commitment to support small and mid-size businesses like ours, to preserve and grow US employment, and to facilitate US environmental technology exports.”