Dec. 2 (Bloomberg) — Desalitech Ltd., a U.S. maker of
desalination and water-treatment systems, is receiving $11
million in its latest funding round.
Spring Creek Investment Management LLC led the financing,
which included existing investors Liberation Capital and AquAgro
Fund LP, Newton, Massachusetts-based Desalitech said today in a
statement. Liberation Capital previously invested $9.5 million
in Desalitech, including $5 million last year.
“To gain participation from all previous investors in this
third, oversubscribed funding round is a great vote of
confidence,” Desalitech Chief Executive Officer Nadav Efraty
said in the statement.
Closely held Desalitech, which was founded in Israel and
first deployed commercial units in 2009, said its closed-circuit
desalination systems reduce waste by 50 percent to 75 percent
and use 35 percent less energy than comparable reverse-osmosis
methods, lowering total treatment costs by 60 percent.
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