24 Nov 2017 | 10.59 am
Water Purifier H2Ozone Raises €3m
Funding round organised by Focus Capital Partners
24 Nov 2017 | 10.59 am
Wicklow company H2OZone has raised €3 million in capital in a funding round aimed at commercialising its water purification technology, billed as a a unique process which uses no chemicals and can purify water from any source.
The product is aimed mainly at the agri-sector, and specifially the poultry, piggery, beef and dairy industries, where operators can benefit from improved mortality rates, feed conversion ratios and profitability, according to the company.
H2Ozone will use the €3m to increase its sales and marketing capabilities as it expands international sales of its units. These purify water using filtration, ultra-violet light and ozone, with no chemicals used. The international sales focus will be on the UK, French, Dutch, Belgian and South African markets.
H2Ozone also believes it can boost sales in Ireland, based on concerns about water quality raised in recent EPA reports. The agency recently stated that e-coli is present in almost a third of Irish private wells, and in September the EPA said that water supplies serving more than 163,000 people required treatment to prevent cryptosporidium occurring in water.
H2Ozone chairman Paul O’Grady (pictured) said: “We see a global market opportunity for this technology, and we’re very pleased to have raised the funds to embark on the next phase of the company’s growth. Our product provides a chemical-free and cost-effective way of purifying water from any source, and removes the threat of bacteria like cryptosporidium which is a global challenge, and in Ireland has been shown by the EPA to have threatened the water supply of over 163,000 people.”
The system works by passing water through a series of filters, then through a helical UV reactor chamber where the UV light inactivates all bacteria, pathogens and microorganisms. Ozone is then delivered through a diffuser into the water as the final step in the purification process.
The Newtownmountkennedy company sells its units for €4,975 and says they have low annual maintenance costs, less than €150 per annum including off-site monitoring. The funds were raised from a group of high net worth investors and Irish private equity firm Danu in a round organised by Focus Capital Partners.