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Financing allows for product commercialization and expanded research and development
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 commercialization efforts."
About NanoH2O, Inc.
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.
About Oak Investment Partners
Oak Investment Partners is a multi‐stage venture capital firm with a total of $8.4 billion in committed capital. The primary investment focus is on high growth opportunities in clean energy, communications, information technology, internet new media, financial services information technology, healthcare services and consumer retail. Over a 29‐year history, Oak has achieved a strong track record as a stageindependent investor funding more than 435 companies at key points in their lifecycle. Oak has been involved in the formation of companies, funded spinouts of operating divisions and technology assets, and provided growth equity to mid‐ and late‐stage private businesses and to public companies through PIPE investments. Oak has helped innovators exploit new business opportunities and anticipate trends through long‐term relationships that endure the changing economic landscape. Our accomplishments can be best recognized through the success of our companies and the ability to deliver consistent performance over time.
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in both traditional venture areas like the Internet, computing, mobile, and silicon technology arenas but also supports breakthrough scientific work in clean technology areas such as bio‐refineries for energy and bioplastics, solar, batteries, engines, lighting, water, and other environmentally friendly technologies. Vinod Khosla was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Vinod has been labeled the #1 VC by Forbes and Fortune recently noted "there are venture capitalists, and there's Vinod Khosla." Vinod Khosla founded the firm in 2004 and was joined by partners David Weiden and Samir Kaul. Khosla Ventures is based in Menlo Park, California.
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