Energy-efficient water desalination company snags $60 million

Energy-efficient water desalination company snags $60 million

Summary: The money includes a new venture capital infusion, along with credit for equipment financing and working capital.

TOPICS: Start-Ups, Banking

More evidence this week of the strategic nature of technology aimed at creating pure water  without consuming an inordinate amount of dirty energy to process it: seawater desalination company NanoH2O has closed an additional $60.5 million in equity financing and credit.

Certainly, desalination technology is nothing new. What could be considered new is NanoH2O's approach. The company uses nanostructured, polymer-based reverse-osmosis membranes that help reduce the amount of energy needed to process seawater into a drinkable form.

This week, several companies agreed to provide $40 million in equity financing: chemical giant BASF's venture capital arm along with Total Energy Ventures and Keystone Ventures.

In addition, the company has arranged for $20.5 million in growth capital, working capital and equipment financing credit from Comerica Bank and Lighthouse Capital Partners (backed by the Export-Import Bank of the United States).

The new funding and financing brings the total amount invested in debt and equity funding to more than $100 million, according to NanoH20.

That makes it one of the most well-funded water companies in cleantech.

Related stories:

Topics: Start-Ups, Banking

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.


Log in or register to join the discussion
  • Awesome.

    This is the kind of stuff we are desperately starting to need right now. Dubai and Singapore already have large RO water desalination operations in progress. As more of the world needs more fresh water using less power, energy efficiency is key.
    • Actually

      Energy efficiency is [b]everything[/b] when discussing desalination.

      Without processes that keep the costs to a feasible level: where delivering that water to populations doesn't continually run at a loss, no enterprise - private or state-funded - will dare carry that risk. If it were that simple, every country would be running desalination plants - and no country would be want for their overall water requirements.

      The reality is, desalination processing is a very time-consuming and costly endeavor. Until such time as NanoH2O, and outfits like it, can produce clean, drinkable water that meets all Western standards - at a fairly low cost - desalination will remain the domain of only the very wealthiest nations.

      Also recall that those nations most in need of clean, desalinated water, for all purposes, are Third World regions that typically have neither the capital or the resources to undertake such critical processes.
  • what happens to all the salt?

    de-icer for roads?