Voltea, Ltd., the world’s leader in membrane-Capacitive Deionization (CapDI©), has completed a €5m capitalization round to fund continued commercialization of its technology in multiple sectors. Existing investors Pentair, Unilever Ventures and Anterra Capital joined the round, and the financing will underpin the company’s continued rapid commercial expansion.
Voltea’s CapDI© devices remove salts and other dissolved solids from water simply by applying electric fields across the water flow. This lowers maintenance, energy and CAPEX compared to traditional approaches, which depend on high pressure or heat. Voltea’s technology recovers up to 90% of treated water, which is a big step forward in efficient water use. The devices are highly modular and have been miniaturized to the size of a coffee cup.
Voltea achieved key advances that have resulted in robust performance, lifetime and reliability while attaining a cost structure superior to traditional deionization technologies. Large-scale commercial and industrial systems are now operating on four continents, and both residential and consumer appliances will launch in the coming months.
The global desalination equipment market is worth tens of billions and is growing at 10-20% per annum. Voltea’s technology enables an even larger market opportunity by making desalination economical in many new settings. “Voltea is clearly the pioneer in the space and owns all of the key patents. As we’ve lowered costs and improved performance, we have seen demand increase rapidly. Our technology is competing and winning in multiple sectors,” says Bryan Brister, CEO of Voltea. “Current investors are very pleased with our commercial progress, and believe ETF will help accelerate growth of our business. We were impressed with ETF’s common sense practical approach, which already had an impact even before the deal was signed. ETF will add a lot of value as we continue to grow the business.”
Arne Morteani, of the Environmental Technologies Fund, adds: “We have known Voltea almost since its inception. Starting from a piece of impressive technology, the team has done a fantastic job in developing a thriving business. We look forward to helping grow the business and creating value for the team and shareholders.”
Notes to editors:
Voltea has been delivering electrochemical water-conditioning equipment to institutional, commercial and industrial customers for over 6 years. Voltea’s CapDI© systems remove dissolved salts from water using electricity at a lower economic and environmental cost than any other available technology. Voltea was recognized as one of the 21 Technology Pioneers 2013 at the World Economic Forum, listed in the 2011 Global Cleantech 100 and won the best new technology award at the 2010 Global Water Summit. For further information see www.voltea.com.