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Saturday, August 4, 2012

Aqwise gets investment from India’s Triveni group, support for its mission to clean up the wastewater around the Taj Mahal

Israeli wastewater treatment solutions provider Aqwise today announced that it has raised $4.5 million in a financing round led by new strategic investor -Triveni Engineering & Industries, a publicly traded industrial group based in India, with a fast growing water division focused on high-end technology projects.

Aqwise increased its global activity and currently operates through local representatives and partnerships in more than 30 countries, with approximately 200 municipal and industrial installations worldwide. In India, Aqwise’s technology is implemented in a large-scale surface water purification project, treating daily over 150,000 cubic meters of water from the Yamuna River. This project alone is set to provide clean drinking water to over two million inhabitants of the city of Agra, home of the famous Taj Mahal.
Aqwise has won growing global recognition for its innovative technologies. For the fourth consecutive year, Aqwise was named as one of Deloitte’s Israeli Fast 50 Technology companies, and Deloitte’s Fast 500 Technology for the EMEA region. It also won recognition for the third consecutive year at The Guardian’s and The Cleantech Group’s “Global Cleantech 100” prestigious list.
Mr. Nikhil Sawhney, Director of Triveni Group said, “We are thrilled to join a global technological leader in the field of water and wastewater treatment. We view this investment as highly synergetic to our Water Business Group, and see immense potential for Aqwise’s cutting-edge biological processes in India, as well as in other developing markets”.
“This is a vote of confidence from a strategic investor in one of the world’s fastest-growing markets for water treatment”, says Elad Frenkel, Aqwise’s CEO, “After securing this type of investment, espsecially during the current global financial atmosphere, Aqwise is well-positioned to meet its next business and technological challenges. Aqwise is committed to stay in the forefront of innovative water technologies implementation and development”.
Source: Israel New Tech