BOSTON, MA, Dec. 2, 2014 -- Today, Desalitech, a Boston-based provider of high-efficiency water production and wastewater treatment solutions, announced that it has secured $11 million in equity funding from a group of private investors led by Spring Creek Investment Management.
The financing round caps off a series of major company milestones in 2014, including signing deals with Veolia, Coca-Cola and other Fortune 500 clients; expanding its global footprint of projects around the world, including drought-impacted California; and achieving outstanding performance as a water solution provider for nearly six years.
The new funding, obtained amid high investor demand, will allow Desalitech to accelerate its growth and strengthen its position as a supplier of high-efficiency water purification solutions. The company's current investors, Liberation Capital and AquAgro Fund, also participated in the financing round, reaffirming their commitment to establishing the company as a specialist in reverse osmosis (RO) water treatment solutions.
As the global need for water increases and resources become more limited, improving the performance of water supply and wastewater treatment is becoming a business and environmental priority. As such, RO is the most widely applied water purification method. Nearly 70 percent of U.S. industrial facilities purify their water supply, mostly with RO; however, traditional RO systems do not use source water efficiently, creating excess brine waste and consuming too much energy
Desalitech's ReFlex RO products, featuring Closed Circuit Desalination (CCD) technology, for example, serve as the first major advancement in water treatment in decades and represent a significant leap over traditional systems. ReFlex products reduce water waste and waste generation by 50 to 75 percent and energy consumption by 35 percent while greatly increasing reliability and flexibility, leading to a 60-percent reduction in total cost of treatment.
See also:
"Water purification system strengthens CA central valley farm's brackish aquifer, water sources"
"Partnership aims to bring advanced water solutions to Mexico"
About Desalitech
Desalitech provides high efficiency water treatment for industrial, agricultural and wastewater reuse and concentration applications. ReFlex Reverse Osmosis products, featuring patented CCD technology -- provide maximum recovery -- guaranteed. ReFlex products typically reduce waste by 50 to 75 percent and energy consumption by up to 35 percent, saving significant operating costs. For more information, visit www.desalitech.com.
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