AqWise, the provider of a biological based solution for wastewater treatment, announced a $3.6 million round of funding from previous investors: AHMSA Steel Israel Ltd, Elron Electronic Industries (Nasdaq: ELRN) and Israel Clean Tech Ventures.
AqWise said it will use the proceeds to grow its presence and market reach around the globe, as well as to continue development of its AGAR® (Attached Growth Airlift Reactor) fixed biofilm moving bed process.
AqWise said it will announce enhancements to its AGAR® process at IFAT (International Trade Fair for water – sewage – reuse – recycling), May 2008 in Munich.
"We have a growing installation base around the world which is benefiting from the results of waste water treatment plants with a small footprint, while enabling easy future expansion and just-in-time capital investment," said Elad Frenkel, CEO of Aqwise.
About AqWise
AqWise – Wise Water Technologies Ltd. develops and implements wastewater treatment solutions which address today’s urgent need for cost-effective wastewater treatment plants for both industrial and municipal clients. AqWise’s proprietary AGAR® (Attached Growth Airlift Reactor) family of solutions increases capacity of BOD and nutrient removal in wastewater treatment plants, and may be used for rapid, scalable and economical upgrade of existing plants or for new plants which require a limited footprint.
The company’s solutions are successfully installed worldwide in dozens of municipal and industrial plants, in various fields such as pulp and paper, food and beverage and aquaculture farms. AqWise is headquartered in Israel with offices in Mexico.
About AHMSA Steel Israel
AHMSA Steel Israel Ltd., a subsidiary of Altos Hornos de Mexico, the largest integrated steel producer in Mexico, was founded in February 2004 as an investment and holding company, for diverse industrial sectors, from mining through wastewater solutions.
About Elron Electronic Industries
Elron Electronic Industries Ltd. (Nasdaq: ELRN – News), a member of the IDB Holding Group, is a leading Israel-based technology holding company directly involved in the long-term performance of its group companies. Elron identifies potential technologies, creates strategic partnership, secures financing and recruits senior management teams. Elron’s group companies currently comprise of a diverse range of publicly-traded and privately held companies primarily in the fields of medical devices, information & communications technology, semiconductors and clean technology. Website: http://www.elron.com.
About Israel Cleantech Ventures
Israel Cleantech Ventures (ICV) was established in 2006 to provide value added growth capital to exceptional entrepreneurs building Israel’s energy, water and environmental technology leaders. ICV’s investment professionals combine industry expertise gained through decades in senior management positions at Israel’s outstanding cleantech companies, with proven abilities in identifying, investing in and supporting VC-backed companies. Website: http://www.israelcleantech.com
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