LOS ANGELES, MARCH 27, 2018 -- Following the successful sale of MembranePRO Services in November and the establishment of PolyCera® membrane products as a subsidiary called PolyCera Membranes in February, Water Planet has spun out IntelliFlux® Controls as a separate operating company.
Water Planet's co-founder and former CTO, Dr. Subir Bhattacharjee, now leads IntelliFlux as its CEO following receipt of the initial tranche of a $3M Series A financing round that was invested directly into the new operating company.
"The new funding gives IntelliFlux Controls the financial resources it needs to execute on a clear and focused business plan. While it is a separate operating entity, IntelliFlux Controls remains a Water Planet company, like the PolyCera Membranes business," said Eric Hoek, Water Planet co-founder and CEO.
In recognition of its success and breakthrough technology, IntelliFlux Controls was selected from an elite global field of more than 200 applicants from 36 countries to join Imagine H2O's 9th annual accelerator program. An independent panel of industry experts and investors chose the participants for this year's program based on their considerable commercial promise and their impact potential on the 2018 challenge areas: scarcity & resilience, water efficiency, utility operations, monitoring & treatment, and data & analytics. IntelliFlux and other participants were honored at Imagine H2O's WaterGala '18 on March 14 in San Francisco.
"The IntelliFlux self-adaptive flux enhancement and recovery control technology is widely recognized as one of the first applications of artificial intelligence in an active, real-time control of water treatment membrane processes. It is now proven to lower operating cost and energy demand, while maximizing process uptime, recovery and membrane useful life. We are excited about the future of the IntelliFlux Controls business since it is now being embraced by the marketplace," Bhattacharjee added.
About Water Planet
Based in Los Angeles, California, Water Planet (waterplanet.com) exists to develop and commercialize next-generation water technologies to help meet global water sustainability imperatives. Since 2011, Water Planet has commercialized – developed, incubated, and spun-out – three water technology companies: MembranePRO Services (membranepros.com), PolyCera Membranes (polyceramembranes.com) and IntelliFlux Controls (ifctrl.com).
