Investment and credit success for NanoH2O
Innovative membrane-maker NanoH2O Inc announced on 30 April 2012 that it has closed a US$ 40 million equity round and US$ 20.5 million in credit facilities.NanoH2O's patented thin-film nanocomposite membrane technology can purify water from a broad range of sources and claims higher productivity, better water quality or reduced energy consumption over traditional membranes.
BASF Venture Capital GmbH, Total Energy Ventures International and Keytone Ventures co-led the equity financing that included all of NanoH2O's existing investors including Khosla Ventures, Oak Investment Partners, CalPERS Clean Energy & Technology Fund represented by Capital Dynamics and PCG Clean Energy & Technology Fund.
The growth capital, working capital and equipment financing credit facilities were provided by Comerica Bank and Lighthouse Capital Partners, with the working capital line backed by the Export-Import Bank of the United States.
The investment brings NanoH2O's total equity funding to US$ 75 million, and total debt and equity funding to over US$ 100 million, making the company one of the most highly funded water technology companies in the industry. Proceeds from the equity offering will enable the company to accelerate its growth, expand its manufacturing capabilities and broaden its product offerings.
Jeff Green, co-founder and CEO of NanoH2O stated, "We are delighted to have such highly regarded, international organizations invest in our future and appreciate the continued support of our existing, globally renowned investors. With these funds and new strategic partners, we are well positioned to continue to provide our global customers with new, leading-edge RO membranes that lower the energy, operating and capital costs of desalination and other water treatment applications."
In connection with this financing, representatives from BASF Venture Capital, Total Energy Ventures and Keytone Ventures will join the company's board of directors.
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