BASF Venture Capital GmbH, Total Energy Ventures International and China’s Keytone Ventures co-led the US$40 million equity financing that included all of NanoH2O’s existing investors including Khosla Ventures, Oak Investment Partners, CalPERS Clean Energy & Technology Fund represented by Capital Dynamics and PCG Clean Energy & Technology Fund.
NanoH2O will use the proceeds from the equity offering to accelerate existing plans to expand its manufacturing capabilities and product development.
“With these funds and new strategic partners, we are well positioned to continue to provide our global customers with new, leading-edge RO membranes that lower the energy, operating and capital costs of desalination and other water treatment applications,” said Jeff Green, co-founder and CEO of NanoH2O.
Representatives from BASF Venture Capital, Total Energy Ventures and Keytone Ventures will now join NanoH2O’s board of directors.
The US$40 million investment brings NanoH2O’s total equity funding to US$75 million, and total debt and equity funding to more than US$100 million.
The US$20.5 million in growth capital, working capital and equipment financing credit facilities were provided by Comerica Bank and Lighthouse Capital Partners, with the working capital line backed by the Export-Import Bank of the United States.