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Cartagena Capital berät Biowater Technology bei Finanzierung durch Sembcorp Industries
Cartagena Capital, the international technology-focused corporate finance advisory firm, has acted as exclusive financial advisor to Biowater Technology (Norway) on a NOK 30 million ($4.9m) investment from Sembcorp Industries (Singapore). The company also raised NOK 8 million ($1.3m) from existing investors Incitia Ventures and Mallin Venture.
Biowater Technology has gained international recognition for its unique cost effective technology for biological treatment of wastewater for the industrial and municipal markets. The company’s technology has been under development since 2007 and carried out in partnership with current investors Incitia Ventures, Mallin Venture, and technology partners including Innovation Norway and Norwegian University of Science and Technology, NTNU.
Biowater Technology continues to innovate and develop new patented technologies, namely Continuous Flow Intermittent Cleaning (CFIC®) and the Hybrid Vertical Anaerobic Biofilm Bioreactor (HyVAB®). The use of CFIC® in wastewater treatment can bring substantial reduction in energy consumption of up to 20% to 30%, as well as savings in capital expenditure of up to 25%, compared to conventional Moving Bed Biofilm Reactor (MBBR) technology.
Sembcorp Industries is a Singapore listed company with turnover of about €6.3 billion ($8.2 bn) and total assets of over €7.5 billion ($9.4 bn).
Biowater CEO Audun Lødemel commented “Cartagena Capital has been key to finding the right international investor for the next phase of our growth. We were impressed by Cartagena’s determination, expertise and global investor network – they have stood by us through every phase of this transaction.”
Cartagena Capital Partner Jay Marathe commented: “It has been a pleasure working with the Biowater team and with investors Incitia and Mallin on this transaction, which brings to the table a global leader in the water space as both investor and strategic partner. I am confident in the future success of Biowater, driven by the innovative and compelling next generation technologies it is bringing to market over the next few years.”
Timo Peter, Director at Cartagena Capital, added: “This transaction builds on Cartagena’s presence in the smart industries and clean technologies space and has served to further develop our relationships with water industry buyers and investors across three continents.”