An undisclosed backer has provided $50m to help Envirogen Technologies fund design and installation of water treatment for local government and industry.
Envirogen was formed in October by Amplio Filtration, a subsidiary of UK-based private equity firm Amplio Group, from the assets of the former Nasdaq-listed Basin Water that Amplio acquired under Chapter 11 administration for $2m.
Michael Stark, executive president of Envirogen, said: "This $50m financing [will help pay for] the two essential and expensive components of a treatment system installation: the initial upfront capital outlay and the next 10 to 20 years of operating costs."
Andrea Davi, head of Amplio Filtration, said the global water treatment market was set to grow by 6.4% this year to $39.9bn.