The money will be used to expand Desalitech’s business and working capital. Liberation Capital will also support Desalitech with project finance capital.
Desalitech is commercialising its next-generation reverse osmosis (RO) water treatment solutions. The company says its proprietary Closed Circuit Desalination (CCD) technology reduces costs by 20% or more, by lowering energy consumption and capital costs, improving process reliability and flexibility, and cutting the emission of brine waste by raising recovery.
“Liberation Capital is providing the growth capital we need for product commercialisation as well as the project finance that will allow us to create a service-oriented business model. As importantly, the deep industry domain knowledge brought by the Liberation team and their experience in growing global businesses will help us focus our strategy and scale our business as we grow,” said Nadav Efraty, Desalitech CEO.
“I’ve known the Desalitech team for several years,” said Jeff Garwood, managing director of Liberation Capital. “Over this period, the technology has been validated, the management team has grown and matured, and most importantly, the market leaders in the industry have come to understand the technology’s benefit and significance.”
Rick Stover, Desalitech’s executive vice president, said: “Next-generation CCD technology is a performance breakthrough for RO water treatment. Desalitech is now prepared to recruit top performers and become a major provider of high-recovery and water reuse solutions in North America and around the world.”
Desalitech was founded by Professor Avi Efraty, the inventor of CCD technology. The company has been granted more than 75 patents on the technology, and commercial CCD installations have run continuously for over three years.
Liberation Capital specialises in project finance for distributed renewable energy, water and wastewater projects. Last year Liberation Capital invested US$8 million in UK-based wastewater treatment specialist Bluewater Bio.