Water company boosted by Chinese consortium
SolaQuaGen gains funding to develop desalination products
SolaQuaGen International Ltd, based in Newbury, has announced the successful completion of first-round funding by a consortium of Chinese investors.
The full commercial rollout of SolaQuaGen’s desalination and waste water treatment products in the UK and internationally is facilitated by the funding and linked sales opportunities in China.
Successful trials of its prototype unit, funded by UK government agencies, demonstrated a capacity to generate 30,000 litres per day of pure water from brackish and contaminated water.
China Ventures Ltd acted as advisor in the transaction.
China Ventures is a leading UK strategy consultancy specialising in developing business between China and Western countries.
It is working to coordinate a second funding round as well as developing strategic alliances with Chinese partners to support further growth of SolaQuaGen, which has offices in Oxford Road.
Newbury MP Richard Benyon, chairman of the UK Water Partnership, has also taken an active interest in supporting SolaQuaGen.
SolaQuaGen’s chief executive, Mark Hardiman, said: “We are delighted to be working with China Ventures to both access investor funds and help open up the Chinese market for us, which is a major opportunity for SolaQuaGen.
“This investment also demonstrates the continued strong interest by foreign investors in the UK. The long-term support of the British Government has also been instrumental in assisting the development of our technology.
“In China our technology will assist in reducing carbon emissions and bringing clean safe water to Chinese citizens.”
SolaQuaGen has achieved a breakthrough in the clean technology field for desalination and treatment of waste/dirty water, reducing energy consumption and hence carbon emissions by 90 per cent compared to conventional processes.
The resulting fresh water is produced, at an overall cost, 40 per cent lower than traditional processes.
Early stage support to prove the concepts and build a commercial demonstrator have been provided by two grants from Innovate UK and one from the Department for Energy and Climate Change’s Energy Entrepreneurs’ Fund.
A full-scale demonstrator unit has been operational in the UK for the last 12 months.