Island Water Technologies Inc. (IWT) has announced a $500,000 seed capital investment by Island Capital Partners and Natural Products Canada for water technology commercialization.
The deal comes on the heels of a string of successes for IWT, including its recent acceptance into esteemed water accelerator, Imagine H2O, as well as commercial wastewater projects in North Africa, China, and Kenya.
“It’s clear that our products are hitting the market at a time when wastewater issues are critical,” said Dr. Patrick Kiely, founder and CEO of IWT. “This investment enables us to take full advantage of the strategic opportunities that lie before us and get these disruptive solutions deployed to a global marketplace.”
IWT’s attributes part of its success to a highly effective support system in the Atlantic Canada region, including the National Research Council, PEI BioAlliance, Innovation PEI, the Atlantic Canada Opportunities Agency, Dalhousie University, and Innovacorp.
“A successful innovation ecosystem requires capital investment that can take technology companies through to a position of sustainable revenue growth. This support by ICP and NCP will be central to our growth and success going forward,” said Patrick Kiely, CEO Island Water Technologies.
Island Water Technologies (IWT) has developed, and is now commercializing next generation solutions in wastewater treatment, sensing and control. It is focused on two proprietary technologies: REGEN, a containerized enhanced fixed film wastewater solution and SENTRY, a bio-electrode sensor platform that allows for real-time monitoring of microbial activity and key wastewater contaminants in wastewater treatment facilities.
“There is increasing need and demand for sustainable, reliable, and cost-effective solutions for waste water treatment and water purification,” said Alex MacBeath, CEO Island Capital Partners. “Island Water Technologies Inc. has developed innovative products with significant global market potential. We are pleased to be investing in IWT as it begins to commercialize next generation solutions.”
Island Capital Partners is a Venture Capital investment fund, established in 2017, aimed at investing in high growth potential, early stage Prince Edward Island Start-Up companies.
Natural Products Canada is a not-for-profit organization with a vision to make Canada flourish as the Silicon Valley of natural products.