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Porvair: revenues down, profits in line with expectations
news products and solutions, has received a new Series B round of funding to continue the development and commercialisation of its industrial wastewater treatment technologies. The funding round includes investments from Air Liquide’s ALIAD Corporate Venture fund, Bluestem Capital Co and UCLA Venture Fund. In conjunction with the new funding, the company has restructured as a Delaware C-corporation and changed its name from Water Planet Engineering LLC to Water Planet Inc. “This round of funding represents an important step forward for Water Planet,” said Eric Hoek, CEO of Water Planet. “We now have the capital to commercialise PolyCera membrane technology and to drive sales of our broadening portfolio of innovative products. Our new investors add significant value beyond the infusion of capital. They bring great experience in early stage companies as well as global access to customers, which will further fuel our growth.” Air Liquide, a producer and supplier of industrial gases, and Water Planet plan to collaborate on current and future products and services. “We value Air Liquide’s confidence in our technologies and the future this represents not only for our company, but also for the water treatment industry. We are already engaged with them to develop unique offerings for water reuse and look forward to bringing other services and products to market together,” said Subir Bhattacharjee, co-founder and chief technology officer of Water Planet. Industry-focused institutional investor Bluestem brings extensive experience working with successful startups within the energy, water, food, agriculture and biotech industries. Steve Kirby, president of Bluestem, said: “We look at hundreds of investment opportunities per year. Water Planet is one of the best combinations of disruptive technology and management execution we have seen. We are confident that when a customer goes to Water Planet
with a problem that no one else can solve – they will.” Michael Silton, executive chair of the UCLA Venture Fund, said: “UCLA investment fund is particularly interested in supporting both technology and alumni that have grown from the UCLA campus and community. We believe in the future of Water Planet and see their work benefiting the many water needs of California and beyond.” Founded in 2011, Water Planet’s innovations include IntelliFlux membrane controls and its Core-CMS ceramic membrane technology. For further information, visit www.waterplanet.com
Porvair: revenues down, profits in line with expectations
P
orvair plc says it has continued to trade well in the nine months to 31 August 2015. While underlying revenues for the first nine months of 2015 were 9% higher than a year ago, total revenues are 9% lower because of the unusually high revenues recognised from several large projects in 2014. Meanwhile, profit before tax is in line with Porvair management’s expectations. Underlying revenues in the Microfiltration division were 13% up on last year. The division is making progress on commissioning gasification projects for POSCO, Reliance and CNOOC and a UK nuclear remediation contract. The Metals Filtration division traded in line with expectations, 1% ahead of last year. Porvair opened new plants in the UK and USA earlier this year and the China facility expansion is on schedule and to budget. A new facility in Ashland, Virginia, USA has been leased and is expected to be occupied by the end of the first quarter 2016.
For further information, visit www.porvair.com
Nederman to purchase oil mist specialist Filtac
N
ederman has signed an agreement to acquire Filtac AB, a Swedish company that specialises in filtration and cleanroom technology. Kinna-based Filtac has annual revenues of SEK50 million and 15 employees. Filtac holds patents for technologies and products targeting oil mist treatment, a residue from metal fabrication. “The acquisition of Filtac gives us access to world-leading technology and in-depth knowledge of, for example, capture and filtering of oil mist. Combined with our global sales network, we gain a strong position in this interesting market,” said Sven Kristensson, Nederman president and CEO. ”Nederman’s organisation gives us the group advantages needed to continue our growth on a broader, international arena,” said Johan Bergdahl, founder and president of Filtac. For further information, visit www.nederman.com and www.filtac.com
Pentair partners with Urban Organics to advance aquaponics
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entair plc is teaming up with Urban Organics LLC to accelerate the development of large-scale commercial aquaponics. Aquaponics is the combined culture of fish and hydroponic vegetable crops in a closed-loop, recirculating aquaculture system. In aquaponics, fish provide the nutrients that plants need to grow, and the plants act as a filter to improve the water quality for the fish.
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8 September 2015
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with a problem that no one else can solve – they will.” Michael Silton, executive chair of the UCLA Venture Fund, said: “UCLA investment fund is particularly interested in supporting both technology and alumni that have grown from the UCLA campus and community. We believe in the future of Water Planet and see their work benefiting the many water needs of California and beyond.” Founded in 2011, Water Planet’s innovations include IntelliFlux membrane controls and its Core-CMS ceramic membrane technology. For further information, visit www.waterplanet.com
Porvair: revenues down, profits in line with expectations
P
orvair plc says it has continued to trade well in the nine months to 31 August 2015. While underlying revenues for the first nine months of 2015 were 9% higher than a year ago, total revenues are 9% lower because of the unusually high revenues recognised from several large projects in 2014. Meanwhile, profit before tax is in line with Porvair management’s expectations. Underlying revenues in the Microfiltration division were 13% up on last year. The division is making progress on commissioning gasification projects for POSCO, Reliance and CNOOC and a UK nuclear remediation contract. The Metals Filtration division traded in line with expectations, 1% ahead of last year. Porvair opened new plants in the UK and USA earlier this year and the China facility expansion is on schedule and to budget. A new facility in Ashland, Virginia, USA has been leased and is expected to be occupied by the end of the first quarter 2016.
For further information, visit www.porvair.com
Nederman to purchase oil mist specialist Filtac
N
ederman has signed an agreement to acquire Filtac AB, a Swedish company that specialises in filtration and cleanroom technology. Kinna-based Filtac has annual revenues of SEK50 million and 15 employees. Filtac holds patents for technologies and products targeting oil mist treatment, a residue from metal fabrication. “The acquisition of Filtac gives us access to world-leading technology and in-depth knowledge of, for example, capture and filtering of oil mist. Combined with our global sales network, we gain a strong position in this interesting market,” said Sven Kristensson, Nederman president and CEO. ”Nederman’s organisation gives us the group advantages needed to continue our growth on a broader, international arena,” said Johan Bergdahl, founder and president of Filtac. For further information, visit www.nederman.com and www.filtac.com
Pentair partners with Urban Organics to advance aquaponics
P
entair plc is teaming up with Urban Organics LLC to accelerate the development of large-scale commercial aquaponics. Aquaponics is the combined culture of fish and hydroponic vegetable crops in a closed-loop, recirculating aquaculture system. In aquaponics, fish provide the nutrients that plants need to grow, and the plants act as a filter to improve the water quality for the fish.
A SUBSCRIPTION INCLUDES: • Online access for 5 users • An archive of back issues
8 September 2015
www.filtrationindustryanalyst.com
Filtration Industry Analyst
3