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Posted: September 20, 2008
$15 Million Funding for NanoH2O's Reverse Osmosis Membranes
(Nanowerk News) NanoH2O, Inc., developer of next generation reverse osmosis membranes for desalination and water reuse, today announced that it has secured $15 million in funding from Oak Investment Partners and Khosla Ventures. The funding will be devoted to commercializing the company’s Thin-Film Nanocomposite (TFN) seawater reverse osmosis membrane product and expanding its research and development activities. In addition, Brian Hinman, Venture Partner at Oak Investment Partners, has joined NanoH2O’s Board of Directors.
“NanoH2O is leveraging nanotechnology to pioneer better performing membranes for desalination and wastewater reuse that fit seamlessly into existing desalination facilities”, said Jeff Green, Founder and Chief Executive Officer. “This round of funding allows us to quickly take our next generation technology to market and ultimately make desalinated water more affordable and readily available.”
NanoH2O’s TFN technology significantly decreases the required energy or increases the productivity of the desalination process. By improving membrane permeability, maintaining requisite salt and contaminant rejection, and increasing fouling resistance, NanoH2O is positioned to affect the key cost drivers for desalinating water - energy consumption, capital expenditures and chemical consumption. Having demonstrated a 100% increase in membrane permeability beyond existing seawater reverse osmosis membranes coupled with enhanced fouling resistance, NanoH2O is poised to deliver a stepchange in desalination economics.
“Oak Investment Partners recognizes the value of making desalinated water cost effective,” said Brian Hinman. “In surveying water-related technology developments, NanoH2O is strongly positioned to make a significant and near-term impact for existing desalination facilities and for making desalination an affordable source of water in many more locations around the world. We are excited to support its
Founded in 2005 by proven entrepreneurs and backed by leading venture investors, NanoH2O leverages the benefits of nanotechnology to create advanced membrane materials for desalination and water reuse. With freshwater scarcity an increasingly worldwide issue, desalination is a vital treatment method to provide freshwater for industrial users and a growing world population from fresh, brackish and seawater sources. Despite recent advances, desalination remains an expensive source of freshwater because it is energy intensive. NanoH2O’s next generation energy-efficient and fouling resistant membranes dramatically improve the baseline economics of desalination and water reuse.