WaterHealth International, an Irvine clean-water company, has lined up $10 million in venture capital from Dow Venture Capital, part of Dow Chemical Co., and SAIL Venture Partners. The company hopes to complete the $20 million round of funding in March.
WaterHealth has more than 600 water purification and disinfection systems installed in developing nations around the world. The addition funding will allow for faster growth, the company said.
“We are pleased by the confidence exhibited in WaterHealth by our current investors,” Chairman and CEO Tralance Addy said. “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.
SAIL Managing partner Hank Habicht said, “WaterHealth embodies the combination of technology and execution that we see in the most exciting clean technology business models.”
Dow spokesman Dave Kepler added, “Dow is committed to supporting efforts being undertaken to supply clean, safe water to people in need.”
Other investing stories….
- O.C. venture investments grow, buck national decline
- O.C. medical device firm receives $7.2 million
- O.C. firm’s acquisition a rarity in ‘08
- Slow IPO market in ‘09
- O.C. company gets $2 million investment
- Venture capitalists predict gloomy ‘09
- O.C. pacemaker firm get venture money
- O.C. venture capital booms in third quarter
- Angel investors (and others) reduce their risk
any time DOW Chemical is sponsoring something.. i would be weary.
yeah, DOW is involved, this cannot be good for clean safe water. In fact I would think this is exactly the opposite.
Actually getting 10 million from a big corp. to be spent locally is a plus!
Hopefully corp. officers will not skim off too much for bonus’.
Community watchdog organizations are now emphasizing transparency with local government and local government agency’s along with private firms that are contracted by these agency’s.
Privatization of our water sources is a growing concern that will require the public’s attention to make sure our natural resources (water) are dealt with in a transparent manner. We will also need insiders as well as whistle blowers and independent audits of the flow of money and water. If the last eight years have taught us anything, it is that democracy and the best interests of the people of this nation disappear behind closed doors.