Press release from Business Wire India
Source: WaterHealth International
Thursday, January 15, 2009 06:07 PM IST (12:37 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Financial Analyst, Water; Technology
Release no: 18971
WaterHealth International Announces Close of $ 10 Million Series D Funding
Hyderabad, Andhra Pradesh, India, Thursday, January 15, 2009 — (Business Wire India) — WaterHealth International, Inc. (WHI) today announced the first close of its Series D funding for a total equity investment of more than $10 million. Two of WHI’s current investors, Dow Venture Capital (Dow) and Sail Venture Partners (SAIL) are leading the Series D financing. WHI expects the final close by March 2009, bringing the anticipated total of Series D equity investment to approximately $20 million.
“We are pleased by the confidence exhibited in WaterHealth by our current investors,” said Dr. Tralance Addy, Chairman and CEO, WaterHealth International. “As we move to rapidly expand the number of communities we serve and achieve unprecedented scale, access to capital is critical to our continuing success.”
WHI has more than 600 installations of its water purification and disinfection systems in developing countries around the world. This additional funding further strengthens WHI and will allow for accelerated growth.
“Dow is committed to supporting efforts being undertaken to supply clean, safe water to people in need. We will develop innovative technologies and business models that lower the cost of water purification and set new levels for efficient water use,” said Dave Kepler, Chief Sustainability Officer, The Dow Chemical Company. “We believe that investments in companies such as WaterHealth help us achieve this goal.”
“WaterHealth embodies the combination of technology and execution that we see in the most exciting clean technology business models. By achieving scale, WHI can have a tremendous impact on the world’s clean water crisis,” said Hank Habicht, managing partner of SAIL.
WaterHealth International, Inc. provides innovative business solutions to one of the world’s most desperate health crises, the lack of safe, clean and affordable water for the more than two billion people who have little or no access to it. WHI’s award winning water purification and disinfection technology, combined with creative and unique business approaches, enable the delivery of highly affordable, clean water to even the most remote and underserved communities. WHI invests in health and hygiene education programs as part of its normal business practices to combat waterborne diseases in the communities it serves. WHI’s website is www.waterhealth.com.
With annual sales of $54 billion and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the ” Human Element ” to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
SAIL Venture Partners, L.P. is a national venture capital firm with offices in Southern California and Washington, D.C., investing in early-stage companies primarily in the Energy/Cleantech sector. The SAIL partners invest through two primary funds, which focus on clean technologies in the areas of alternative energy, water, agriculture and materials. SAIL Venture’s website is www.sailvc.com.
Sheela Panicker, enRight PR, +91 9849809594, firstname.lastname@example.org
Kristal Docter, SAIL Venture Partners, 714.241.7500 office
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, Financial Analyst, WATER, TECHNOLOGY
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