Aquafortus wins global award

Aquafortus wins global award, closes funding round and breaks ground on U.S. pilot plant

Auckland, 20 July - New Zealand’s Aquafortus Technologies has won the TechXchange Rising Star award for best new technology at Singapore’sInternational Water Week, this closes out a successful six weeks for the start up, which included an oversubscribed funding round and breaking ground on its first pilot plant in the U.S.

Aquafortus was invited to exhibit under Singapore’s National Water Agency, the Public Utilities Board at Singapore International Water Week. Singapore International Water Week is a global event that brings together world leaders in the wastewater industry, with more than 21,000 participants from 125 different regions.

The tradeshow was a great success for Aquafortus - generating more than a dozen sales leads across eight countries. It also saw new sector applications for Aquafortus’ Zero Liquid Discharge (ZLD) technology, with significant interest from major players in the semiconductor and textile industries, says Daryl Briggs,CEO of Aquafortus.

“We’re honoured to win this award. It means a lot that our peers in the water industry recognise how disruptive our technology is to the industry and how it can transform it.

“The award has increased our profile on the global stage. It has also raised awareness of how our patented technology provides an industry-first solution to treat the 900 million tonnes of wastewater produced daily.

“While we have started out in the oil and gas market, our application has the ability to reduce costs in any industry that produces significant amounts of wastewater by using 90% less energy than current solutions and reducing a business’s OPEX expenditure by 60 per cent,” adds Briggs.

It’s been a very successful month for Aquafortus whose recent pre-revenue funding round was oversubscribed, raising over NZD $900,000. It generated such interest that Launch Taranaki, an angel investment consortium, contributed their biggest ever investment round.

The additional capital enabled Aquafortus and its US Licensee, PetroH2O Recovery, to break ground this month on its first pilot plant in Wyoming, six months ahead of schedule. The plant is now due to be completed in December.

In addition to this Aquafortus is also in negotiations for a second pilot plant in Ohio.

Recent milestones further build on the company’s announcement in May of an exclusive licensing agreement with PetroH20 Recovery valued at USD $40 million for the first three years and over USD $25 million annually beyond.

Ends

© Scoop Media