Island Water Technologies (IWT), a Montague, Canada-based wastewater technology company focused on developing renewably powered solutions for remote populations, secured $250k in venture capital.
Innovacorp made the investment.
The company will use the funds to commercialize its mobile solar-powered wastewater treatment solution, REGEN.
Led by co-founder and CEO Patrick Kiely, IWT has developed REGEN technology, which has lowe energy requirement for wastewater treatment and can be completely powered by renewable energy. The modular systems can be installed in remote locations where there is limited electricity and can be monitored remotely in real-time for maintenance and compliance.
The company’s first target markets will be military bases, disaster relief operations, mining camps and off-grid communities.
In addition to REGEN, IWT has developed two other wastewater treatment products.
– ClearPod is a drop-in device for residential and commercial septic tanks that speeds up bio-treatment of domestic wastewater and restores performance of existing septic systems.
– Sentry is a sensor that uses microbes to monitor wastewater treatment systems in real-time and reports through the cloud on the status of biological processes and performance.
The company’s research and development takes place in partnership with Dalhousie University in Halifax and Truro. Last fall, it graduated from Ecofuel, a startup accelerator run by Cycle Capital, a Montreal-based clean technology fund.
FinSMEs
20/05/2016