H2O Innovation announces C$4.6 million financing

H2O Innovation announces C$4.6 million financing

NEWS with heart failure. Fluid removal with diuretics can be unpredictable, and dialysis is expensive and requires special nursing care. If the ultraf...

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NEWS with heart failure. Fluid removal with diuretics can be unpredictable, and dialysis is expensive and requires special nursing care. If the ultrafiltration device is faster, then the implication is that the patient will feel better faster and go home sooner,’ adds Bart. The study is assessing several measures of clinical efficacy, including total weight loss, quality of life, level of CHF disease classification, length of hospital stay, and blood chemistry changes before, during and 30 days after treatment. CHF Solutions claims that its System 100 can remove up to four litres (one gallon) of excess fluid from the body over an 8 h period. Conventional diuretic treatment typically takes several days. (For more information on the System 100 fluid removal system, see the feature article, ‘Blood filtration and treatment’, published in Membrane Technology in January 2004.) Contact: CHF Solutions Inc, 7601 Northland Drive, Suite 170, Brooklyn Park, MN 55428, USA. Tel: +1 763 463 4600, www.chfsolutions.com

Cuno posts record results for Q1 Connecticut-based Cuno Inc has reported record results for its first quarter ended 31 January 2004. Sales totalled US$75.4 million, which is 14% higher than the figure it posted for the equivalent period in 2003, and up 6% in local currency terms. Net income for the first three months increased by 30% to $7.0 million, from $5.4 million reported for the corresponding period a year earlier. Commenting on the company’s first quarter results, Mark Kachur, chairman and chief executive officer, says: ‘Our strong first quarter results reflect the effectiveness of our business model. We achieved double-digit sales growth in all three of our primary markets — potable water, healthcare and fluid processing — and also benefited from our ongoing cost management initiatives.’ Kachur says that the company’s international scope and geographic diversity contributed significantly

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to the overall results, as international sales increased by 23% (or by 6% in local currency terms), led by strong growth in Europe, Latin America and Japan. Contact: Cuno Inc, 400 Research Parkway, Meriden, CT 06450, USA. Tel: +1 203 237 5541, www.cuno.com

Orange County receives RO research grant In California, Orange County Water District (OCWD) has recently received an award of $299 697 from the Environmental Protection Agency to conduct research into reverse osmosis (RO) membranes’ ability to remove chemicals that are causing health concerns. These include endocrine disrupting compounds, such as 17bEstradiol; pharmaceutically active compounds, like ibuprofen; trace organic chemicals, such as nitrosodimethylamine (NDMA) and 1,4-dioxane chemicals that have very low detection levels; and other emerging chemicals. The grant will fund a research effort lasting 30 months, with the OCWD contributing $100 000 in in-kind services through staff hours and use of technical equipment. The funding is part of a larger $1.8 million grant awarded to the Desalination Research Innovation Partnership (DRIP). The research will support the use of RO as a viable water purification technology. It will provide insight into the relationships between chemical properties, their interaction with and rejection by RO membranes. Contact: Orange County Water District, 10500 Ellis Avenue, Fountain Valley, CA 92708, USA. Tel: +1 714 378 3228, www.ocwd.com

Name change for USFilter operation USFilter Operating Services Inc has changed its name to Veolia Water North America Operating

Services Inc, adopting the name of its parent company. The name change follows the announcement last September by USFilter’s parent company Veolia Environment, of its intention to sell select USFilter equipment and consumer businesses, and to focus on its core outsourcing services business. The name change, which does not involve any sale or asset transfer, will not affect the business, except to improve it, says Mike Stark, president/CEO of Veolia Water North America. ‘Our name is changing, but more importantly, so is the market — and very quickly,’ says Stark. ‘Cities and towns will need to spend an estimated $500 billion to $1 trillion on water and wastewater infrastructure over the next 20 years, according to various estimates from the Environmental Protection Agency, and water industry associations. Consequently, most communities need help improving their water and wastewater infrastructure and ensuring water quality, while keeping rates affordable.’ Contact: Veolia Water North America Operating Services Inc, 14950 Heathrow Forest Parkway, Suite 200, Houston, TX 77032, USA. Tel: +1 281 449 1500, www.veoliaenvironnement.com

H2O Innovation announces C$4.6 million financing Canadian-based H2O Innovation (2000) Inc has announced a private placement and a convertible debenture for C$4.6 million (US$3.5 million), for use as the working capital of the company. The company’s board of directors has approved a C$4 million private placement conditional to a reverse split of its capital share (10 to 1), as suggested by the group of investors. H2O Innovation will issue a convertible debenture of US$600 000 carrying interest at a rate of 10% for a two-year period. Contact: H2O Innovation (2000) Inc, 420 Boulevard Charest Est, Suite 240, Québec, QC G1K 8M4, Canada. Tel: +1 418 688 0170, www.h2oinnovation.com

In Brief University of Maryland jointly funds research In the US, the Maryland Industrial Partnerships (MIPS) program is jointly awarding $2.7 million for 21 research projects, teaming Maryland companies with university faculty members. The commercially driven projects focus on areas such as biotechnology, biosensors for detecting E. coli, and antibiotic tracking systems. The funding includes $1.1 million from MIPS and $1.6 million from Maryland companies. One of the projects to receive funding, aims to optimize the performance of membranes used in GeneSystems Inc’s p-FILM platform for biomolecule detection (primarily protein analysis), with a view to developing ‘smart’ specific capture membranes for clinical diagnostics. Pentair to acquire WICOR In the US, Pentair Inc has entered into an agreement to acquire WICOR Industries, a unit of Wisconsin Energy Corporation based in Milwaukee. WICOR manufactures water system, filtration and pool equipment products. ‘The WICOR acquisition will transform Pentair into a diversified company defined largely by a $2 billion Water Technologies business,’ says Pentair’s chairman and chief executive officer, Randall Hogan. ‘We expect our revenues in filtration and purification to jump to approximately $500 million. We would become considerably more global in scope, with anticipated total international water-related sales of 20% or about $400 million.’ Court approves sale of Waterlink business to Calgon The US Bankruptcy Court for the District of Delaware has approved the sale of Waterlink Specialty Products to Calgon Carbon Corporation. The assets to be acquired include the operating assets of Waterlink Inc’s US-based subsidiary Barnebey Sutcliffe Corporation, and the stock of Waterlink (UK) Ltd, a holding company that owns the stock of Waterlink’s operating subsidiaries in the UK.

Membrane Technology April 2004