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BASF Venture Capital invests $7.5 million in U.S.-based company NanoH2O
02-05-2012: BASF Venture Capital GmbH has invested $7.5 million in the technology company NanoH2O, Inc. The investment is part of a
$40 million equity round co-led by BASF Venture Capital together with other investors. NanoH2O develops, produces and sells reverse osmosis membranes for seawater desalination.
“There is a great demand worldwide for innovative technologies to produce drinking water from seawater,” said Dirk Nachtigal, Managing Director, BASF Venture Capital. “NanoH2O has developed special nanostructured polymer-based membranes for seawater desalination which are particularly effective in removing the salt from seawater in a highly energy efficient way,” explained Nachtigal. The membranes from NanoH2O use the reverse osmosis principle and currently deliver the highest flux and the highest salt rejection of any seawater reverse osmosis (SWRO) membrane on the market. They fit easily into new and existing desalination plants.
NanoH2O will use the investment further expand its global business activities. “This investment will accelerate existing plans to expand our manufacturing capabilities and product development initiatives,” said Jeff Green, co-founder and Chief Executive Officer of NanoH2O. “Along with our new partnership with BASF, we now have increasingly strong resources as NanoH2O strives to become the market leader for seawater desalination membranes.”
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