Island Water Technologies Inc (IWT), a Montague, Prince Edward Island wastewater treatment company, has raised $500,000 in seed-stage financing. Island Capital Partners, launched last year to invest in startups in Prince Edward Island, invested in the round with Natural Products Canada. Founded in 2013 by CEO Patrick Kiely, IWT is developing solutions that combine systems engineering, automation, precision manufacturing and new technologies for wastewater treatment, sensing and control. It will use the funds raised to commercialize the solutions and bring them to global customers.
Investment Secured for Water Technology Commercialization
Island Water Technologies Inc. is very happy to announce a $500,000 seed round investment by Island Capital Partners (ICP) and Natural Products Canada (NPC) for water technology commercialization.
The deal comes on the heels of a string of wins for IWT, including its recent acceptance into esteemed water accelerator, Imagine H2O, as well as commercial wastewater projects in North Africa, China, and Kenya, to name a few.
“It’s clear that our products are hitting the market at a time when wastewater issues are critical,” says Dr. Patrick Kiely, founder and CEO of IWT. “This investment enables us to take full advantage of the strategic opportunities that lie before us and get these disruptive solutions deployed to a global marketplace.”
Innovation Ecosystem in Atlantic Canada.
IWT’s success can in part be linked to the highly effective support system in the Atlantic Canada region, including the National Research Council, PEI BioAlliance, Innovation PEI, the Atlantic Canada Opportunities Agency, Dalhousie University, and Innovacorp.
“A successful innovation ecosystem requires capital investment that can take technology companies through to a position of sustainable revenue growth. This support by ICP and NCP will be central to our growth and success going forward” says Patrick Kiely, CEO Island Water Technologies.
“There is increasing need and demand for sustainable, reliable and cost-effective solutions for waste water treatment and water purification. Island Water Technologies Inc. has developed innovative products with significant global market potential. We are pleased to be investing in IWT as it begins to commercialize next generation solutions”, says Alex MacBeath, CEO Island Capital Partners.
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Dr. Patrick Kiely
Island Water Technologies Inc.
Island Water Technologies (IWT) has developed, and is now commercializing next generation solutions in wastewater treatment, sensing and control. It is focused on two proprietary technologies:
REGEN is a containerized enhanced fixed film wastewater solution. Its treatment capacity is comparable to existing solutions, while using less than 75% of the electricity and no chemical additives. The result is low-energy or self-powered system operation with significantly better financial returns and system reliability. In addition, remote technical support and product warranty remove the headaches associated with conventional packaged solutions.
SENTRY is a bio-electrode sensor platform that allows for real-time monitoring of microbial activity and key wastewater contaminants in wastewater treatment facilities. The low-cost, easy-to-install sensor provides unique insight into system performance, which can reduce risk of system imbalance, optimize biogas production and save money on routine testing.
Island Capital Partners (ICP) is a Venture Capital investment fund, established in 2017, aimed at investing in high growth potential, early stage Prince Edward Island Start-Up companies. The strong entrepreneurial ecosystem within the Start-Up industry presents PEI with a tremendous economic growth opportunity and a means for attracting and retaining talent, particularly with immigrant and recent graduates. Availability of risk capital is a critical factor in an entrepreneurial ecosystem and in developing a culture which creates and supports startups with long term growth potential. Island Capital Partners leverages both private and public funds and, most importantly, is also actively involved in mentoring and advising companies in which it invests.
Natural Products Canada (NPC) is a not-for-profit organization with a vision to make Canada flourish as the Silicon Valley of natural products. It aims to align, expand and optimize the Canadian natural products ecosystem to accelerate the development of products and technologies that bring real value to real customers in areas of life sciences, natural resources and environmental sustainability. NPC was established in 2016 and is funded by a range of public and private investors, including the Government of Canada’s Centre of Excellence in Commercialization and Research (CECR) program, administered by the Networks of Centres of Excellence. Visit www.naturalproductscanada.com.
Source: Island Water Technologies Inc
Photo courtesy of Island Water Technologies Inc