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Amplio’s Envirogen Technologies secures USD50m financing

The Amplio Group’s investment company Envirogen Technologies, a water technology and services solutions provider, has secured USD50m equity financing.

Envirogen’s financing has been secured from a provider of alternative investment solutions for a pipeline of design, build and operate environmental treatment projects.

The financing will be deployed on a project-by-project basis.
 
The USD50m financing ensures that Envirogen has sufficient investment capital for future design and installation projects that feature its water technology and long-term service agreements. Target municipal projects include drinking water and wastewater treatment and groundwater remediation for both organic and inorganic contaminants. Industrial projects are expected to include groundwater and wastewater treatment as well as environmental improvement projects such as the recovery of materials from process or waste streams for use as recycled materials.
 
Envirogen was formed in October 2009 by Amplio Filtration, a subsidiary of Amplio Group, from the assets of the former Nasdaq-listed Basin Water, which Amplio acquired under Chapter 11 for USD2m. 

Andrea Davi, head of Amplio Filtration, says: “Envirogen has had an extraordinary first six months under the Amplio Group, winning numerous contracts and already becoming profitable. The USD50m financing puts Envirogen on a very secure financial footing for all future projects, not only underlining the strength and scope of the business but emphasising the high quality of its technology and the ongoing servicing it provides. Additionally, with the global water treatment market set to grow by 6.4 per cent this year to USD39.9bn, we remain confident of Envirogen’s continued success and look to expand its innovative technologies into other markets.”
 
Michael Stark, president and chief executive of Envirogen, adds: “We are delighted to be announcing this USD50m financing today as by far the two essential and expensive components of a treatment system installation are the initial upfront capital outlay and the next 10-20 years of operating costs. By adding a robust financing element to our design, build and operate capabilities, we look forward to ensuring the growth of Envirogen and assist both municipalities and companies better manage their costs and maximise their investments in environmental technology. Access to these funds will allow us to broaden the scope and increase the flexibility we have to develop true low lifecycle cost solutions for our customers.”

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