HONG KONG, February 1, 2018 /PRNewswire/ —
Organica Water (“The Company”), a global provider of innovative solutions for the treatment and recycling of wastewater, today announced that it recently completed its $21 million Series D financing, with a second tranche to follow. This financing represents the largest private equity round raised by the Company to date. The round was led by CITIC Capital Silk Road Fund (“CCSRF”) with substantial participation by existing investors.
Over the past two decades Organica has developed a truly unique “localized” approach to wastewater treatment. Organica’s 100 + wastewater treatment facilities around the globe utilize a waste processing biofilm on natural (plant) and/or engineered (patented biofiber media) root structures, all housed in a fully-enclosed, odorless, greenhouse facility. The result is a cost-efficient solution which offers a significantly reduced physical footprint, and lower operational and infrastructure costs when compared to conventional wastewater treatment options, all in the form of a pleasant botanical garden-like environment that preserves land value and enables cost-efficient reuse of the treated effluent.
“This is a critical milestone in Organica’s journey to become the standard operating system for municipal wastewater treatment in the 21st century,” said Ari Raivetz, Chief Executive Officer of Organica Water. “This investment provides the capital necessary to strengthen our balance sheet, better positioning us to deliver our unique wastewater solutions in larger and more complex projects in Asia. It also provides for further investment in our online design platform and digital toolset, which add value for water engineers and operators, and also integrate other wastewater technologies and equipment. Over the past few years the wastewater market is moving to a more decentralized approach, similar to what we have seen in the power sector. Organica leads the way in this segment, with large scale references in major urban centers like Shanghai, Shenzhen, Manila, Jakarta, Kolkata, and Budapest.”
The round was led by CCSRF under CITIC Capital Holdings Limited (“CITIC Capital”), an alternative investment management and advisory company with deep knowledge and network of the Chinese business and financial markets and world-class investment expertise. Substantial participation in the round came from one of Organica’s existing investors, Paris-based Idinvest Partners through its Electranova Capital I Fund. Idinvest is a European leader in private equity with a strong VC practice and specific expertise in the Chinese market.
“We are thrilled to add CCSRF