Desalitech secures another US$ 5 million funding
Desalitech, provider of Closed Circuit Desalination (CCD) reverse-osmosis (RO) desalination technology, announced on 11 June 2013 that it secured an additional US$ 5 million equity funding from Liberation Capital and its institutional investors.This increases the private equity firm's total investment to US$ 9.5 million and brings the total amount raised by the company to over US$ 13 million. The funds will be used to accelerate Desalitech's growth and strengthen its position as a leading supplier of high-recovery low-cost industrial water treatment solutions.
CCD systems have achieved over 97% recovery whereas traditional RO systems typically operate at only 75% recovery. CCD systems are desalinating seawater with 1.5 kWh/m³ energy, compared with 2-3 kWh/m³ with state-of-the-art conventional RO. Similar savings percentages have been achieved with CCD systems in industrial water and effluent treatment applications.
"Desalitech has developed a superior and differentiated technology to meet the growing and irreversible market demand for high efficiency and high recovery," said Jeff Garwood, managing director of Liberation Capital. "Their solutions are ideal for industrial and agricultural water treatment, where fresh water supply and effluent disposal costs have become a burden, or even a limiting factor in many cases."