WaterBriefs: MIOX Corp. set to expand with $14.5 million capital venture investment
Also in this report: GTCR completes Cellnet sale to Bayard Group; LCRA picks PCI; WorldWater & Power promotes two; DOE, Ormat join on oil field heat recovery; Millipore aids Johnson & Johnson; Aquentium expands into food, beverages; ADB calls for better water management; Americares upgrades Sri Lankan hospital; TORR Canada names new director; ZCL Composites acquires Xerxes; Frasier Institute reports on Canada's water, wastewater systems; Biopharmaceuticals gives Pall high expectations...
In other news below:
-- GTCR completes sale of Cellnet to Bayard Group
-- LCRA selects PCI for end-to-end market solution for Texas Nodal
-- Sundyne enhances reliability of Ansimag sealless magnetic drive pumps
-- WorldWater & Power elevates Crawford, Washington to executive VPs
-- DOE, Ormat join to validate electricity generation from oil field heat
-- Millipore announces Kinase screening agreement with Johnson & Johnson
-- Aquentium Inc. announces expansion in food, beverage industries
-- Asian Development Bank calls for better governance on water management
-- Americares to spend US$3 million to upgrade Sri Lankan hospital
-- Australia's Victoria government 'Top 200' sites save water
-- Interoperability challenges wireless sensor, transmitter markets - Frost & Sullivan
-- TORR Canada appoints new director
-- ZCL Composites acquires Xerxes Corp. for $41 million
-- Canada's aging water, wastewater systems needs upgrade - Frasier Institute
-- Biopharmaceuticals growth gives Pall high expectations
• MIOX Corp. set to expand with investment from Sand Hill Road Venture Capital Firm -- Sierra Ventures leads Series B round for MIOX Corp., a technology company focused on solving one of the world's most pressing issues -- clean, safe water -- ALBUQUERQUE, NM, Jan. 25, 2007 -- MIOX Corp. announced today that it has raised $14.5 million in capital to accelerate its growth into emerging markets. MIOX currently sells products to purify water for public water treatment systems. It has also successfully developed products and technology for a variety of other applications, including personalized handheld water purification, industrial water, marine, military, and pool and spa applications. MIOX products are cost effective, safe, and a more environmentally sound alternative to the dangerous and harsh chemicals typically used to treat water for these applications.
"Customers have pulled MIOX technology into a number of new applications and exciting opportunities," said Carlos Perea, president and CEO of MIOX Corporation. "With the financial backing of our investors, we can now properly address and develop these fast growing markets. Moreover, we can continue to grow our international markets where there is a rapidly growing demand to treat water in a safe and environmentally sustainable manner."
The round was led by Sierra Ventures with participation from Nick Pritzker via Tao Capital and New Mexico Community Capital. Also participating were the major existing investors including Flywheel Ventures. Sierra Ventures is a top tier venture capital firm with investments in the United States, China, Canada, and India. Sierra is known for its operational expertise and ability to work with entrepreneurs and management teams to build companies into large, profitable businesses.
"Sierra invests in world-changing ideas. We've been interested in making an investment in the Clean Tech space for some time," said Jeff Loomans, a partner at Sierra. "One reason Water Technology is attractive is that water is one of the largest markets in the world with a significant growth rate. It wasn't until we found MIOX that we found a company that meets our investment criteria."
"We are excited about the new investment in MIOX," said Trevor Loy, managing partner at Flywheel. "MIOX is an excellent example of a company applying technology to address a major market opportunity and, at the same time, address a major social and environmental issue. Today, one of five people in the world still do not have access to safe, clean water, resulting in major costs to society. MIOX is a distributed architecture and will allow end users to treat their water at the point of use. This is a cost-effective approach that many parts of the developing world are embracing."
MIOX (www.miox.com) applies patented technology to manufacture products that can provide clean, safe water, anywhere at any time. The technology was originally developed under military and federal contracts with the goal of replacing traditional water treatment chemicals. For over a decade MIOX products have been used by hundreds of municipalities across the United States to treat water to EPA (Environmental Protection Agency) standards. MIOX eliminates the need to store and transport dangerous chemicals such as chlorine gas, which is considered by the Department of Homeland Security to be one of the most significant threats to community safety. MIOX is currently being sold in over 40 countries and can be used in a variety of water treatment applications.
Sierra Ventures (www.sierraventures.com), founded in 1982, is a privately held venture capital firm focused on investments across all areas of the Information Technology sector from semiconductors to enterprise software. Sierra Ventures has managed nine venture capital partnerships and currently has more than $1.5 billion of capital under management. Some of the firm's investments include 360Commerce (acquired by Oracle), Active Software (acquired by WebMethods), AmeriGroup (AGP), Centex (acquired by WorldCom), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), Frontbridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit (INTU), Micromuse (acquired by IBM), OnAssignment (ASGN), OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), Sychip (acquired by Murata Manufacturing) and Teradata (acquired by NCR).
Flywheel Ventures (www.flywheelventures.com) is a venture capital firm that makes investments of first institutional capital in the Mountain West. Flywheel targets companies based on innovations in information technology and the physical sciences. The firm matches talented entrepreneurs and market opportunities with Flywheel's capital, entrepreneurial experience, and industry relationships to accelerate innovations into profitable companies. Flywheel is based in Santa Fe and also has offices in Albuquerque and San Francisco.
Among other recent headlines:
• GTCR completes sale of Cellnet to Bayard Group -- CHICAGO, Jan. 25, 2007 -- GTCR, a leading private equity firm, today announced that it has completed the sale of Cellnet, a major provider of energy measurement and efficiency technologies, to Bayard Group for approximately $705 million. Cellnet provides Automated Meter Reading (AMR) for utility companies. Cellnet's AMR network reads over 11 million gas, water and electric meters for its utility customers each month. GTCR partnered with Cellnet CEO Mike Zito to purchase the company in 2004. Cellnet's advisors were Morgan Stanley and Goldman Sachs. Legal counsel was provided by Kirkland & Ellis LLP...
• LCRA prepares for Texas Nodal: Selects PCI for end-to-end market solution -- NORMAN, OK, Jan. 25, 2007 -- With the Texas Nodal Market rapidly developing, the Lower Colorado River Authority (LCRA), has selected Power Costs, Inc. (PCI) as its partner in supporting their efforts to keep pace with the ERCOT market changes through software, implementation, and consulting expertise. LCRA and its affiliates have a diverse power generation portfolio owning approximately 2,868 MW of net dependable capacity provided by coal, natural gas and hydroelectric generating units. To meet its load requirements LCRA also enters into power purchase arrangements to supplement its generating capacity. This includes wind energy from various wind power providers located in far west Texas. PCI's Generation Supply Management System is able to perform bid and offer management, ISO communication, and shadow settlement along with optimization and business process management all within a single infrastructure. PCI will provide LCRA with a single integrated model to conduct long-range resource planning, short-term optimization, post analysis calculations and the front and back office components for Texas Nodal. PCI is the only software provider delivering a complete market solution. LCRA will expand current PCI GenTrader and PCI GenPortal implementation by replacing their existing ERCOT market software with PCI GenManager for bid creation, submission, and settlement activities in managing in the new Texas Nodal market. PCI GenPortal will continue providing workflow automation and deployment of customized processes with PCI GenTrader providing optimization analytics in long, mid, and short term time horizons. Implementation will run parallel to the ERCOT Nodal market timeline.
• Sundyne enhances reliability of Ansimag sealless magnetic drive pumps -- ARVADA, CO, Jan. 25, 2007 -- Sundyne Corp., a subsidiary of Hamilton Sundstrand, a unit of United Technologies Corp., today unveiled new and improved features for the Ansimag
• WorldWater & Power Corp. elevates Crawford, Washington to executive vice president posts -- PENNINGTON, NJ, Jan. 25, 2007 -- WorldWater & Power Corp., developer and marketer of proprietary high-power solar systems, today announced that VP-Chief Financial Officer Larry L. Crawford and VP-Global Business Development Douglas L. Washington have been promoted to Executive Vice Presidents of the corporation. Crawford, who was CFO of Escala Group, joined the company in July 2006. Washington, who came to the company from Johnson & Johnson, has served in various capacities with the company since 2000 when he became a consultant for marketing...
• DOE, Ormat join to validate electricity generation from oil field heat -- Project to use field-proven Ormat Organic Rankine Cycle power system -- RENO, NV, Jan. 25, 2007 -- Ormat Technologies Inc. today announced it has signed a shared-cost Cooperative Research and Development Agreement (CRADA) with the US Department of Energy (DOE) to validate the feasibility of proven technology already used in Geothermal and Recovered Energy Generation for the production of commercial electricity using hot water produced during the process of oilfield production. The project will be conducted at the DOE Rocky Mountain Oil Test Center (RMOTC), near Casper Wyoming, and will use an Ormat Organic Rankine Cycle (ORC) power generation system to produce commercial electricity. The test will use a commercial air-cooled, skid mounted standard design ORC system. Ormat will supply the ORC power unit at its own expense while the DOE will install and operate the facility for a 12- month period. Ormat and the DOE will share the total cost of the test and the study, with Ormat bearing approximately two thirds of the less than $1 million total investment. Presently there are two large unutilized sources of hot water at the RMOTC Naval Petroleum Reserve No. 3, which produces water in excess of degrees Fahrenheit and at flow rates sufficient for generation of approximately 200 kW. The project will consist of the installation, testing and evaluation of a binary geothermal power unit in the field near these hot water sources...
• Millipore's Bioscience Division announces Kinase screening agreement with Johnson & Johnson Pharmaceutical Research & Development -- BILLERICA, MA, Jan. 24, 2007 -- Millipore Corp. on Jan. 8 announced that it has signed an agreement with Johnson & Johnson Pharmaceutical Research & Development (J&JPRD), Division of Janssen Pharmaceutica N.V. for protein kinase screening using the Upstate® KinaseProfiler™ service, Millipore's "gold standard" radiometric service. Under the terms of this agreement, J&JPRD will supply potential protein kinase inhibitors for kinase selectivity profiling against Millipore's panel of 252 protein and lipid kinases. Millipore's selectivity profiling services help the world's top drug companies evaluate potential leads and guide medicinal chemistry to optimize the most promising compounds and avoid the costly development of non-specific lead candidates. The panel of kinases assembled for the KinaseProfiler service represents the largest and most disease-relevant of its kind and is under continuous improvement and expansion at Millipore's facility in Dundee, Scotland. The direct, radiometric assay format used in the KinaseProfiler service assures robust and reliable data that is both reproducible and validated...
-- "BioInformatics LLC to speak on life scientists' media engagement at LPA 3rd Annual Product Managers' Breakfast"
-- "Millipore's NovaSeal simplifies sterile liquid handling"
-- "Millipore opens $50 million Research and Development Center"
• Aquentium Inc. announces expansion in food, beverage industries -- PALM SPRINGS, CA, Jan. 24, 2007 -- Aquentium Inc, announced today that the company has expanded it operations in the food and beverage industry by signing a distributor agreement with Ozone Safe Food Inc. Recent outbreaks of E. coli, and salmonella both here in the United States and abroad have boldly demonstrated that the Ozone Safe Food Inc. technology needs to be further implemented to thwart reoccurrence. Aquentium is now positioned to help protect food quality and ensure success for food products by reaching food processors around the world. In light of continued outbreaks of food-borne illness and more recent food security concerns in the United States, as well as questions about the relative safety of chlorine, ozone is certainly a desirable solution for enhancing not only the safety but also the quality of the world food supply. Aquentium will now be offering strategic solutions to food processors worldwide regarding food sanitation practices, waste water, plant security and microbiological testing...
• Asian Development Bank calls for strong leadership, better governance on water management -- NEW DELHI, India, Jan. 24, 2007 -- Strong government leadership and healthy stakeholder participation are needed to ensure progress and improved governance in the water sector, an ADB Vice-President told the final day of the Delhi Sustainable Development Summit today. "Perhaps the most serious challenge facing us all today is that of sustainable water use," said Khempheng Pholsena, vice president in charge of ADB's financial and administrative operations. "When people speak about a water crisis, it is in most cases a crisis of water governance. The challenge of improving governance is equally urgent in the delivery of water services as it is in the management of water as a resource." Speaking at a session at the summit on "Water: The Need for Integrated Water Resource Management Systems," she pointed out that Integrated Water Resource Management (IWRM) offers a comprehensive approach to improving planning, conservation, development, and management of water, forest, land and aquatic resources within a river basin context...
-- "Senior ADB Officials to Address Delhi Sustainable Development Summit"
-- "Eminent Speaker at ADB Addressing Water Management Challenges"
• Americares spending over US$3 million to upgrade Sri Lanka's District Base Hospital at Elpitiya -- COLOMBO, Sri Lanka, Jan. 24, 2007 -- AmeriCares, a nonprofit disaster relief and humanitarian aid agency, is supporting the Ministry of Healthcare and Nutrition's post-tsunami initiative to upgrade the District base hospital at Elpitiya to a level 'A' facility hospital. The foundation stone of the new building was laid Jan. 11 with participation of the Minister for HealthCare and Nutrition, the Honorable Nimal Siripala De Silva. This post-tsunami project includes renovation of existing facilities, construction of a new medical wards complex, provision of ancillary services and equipping of the facilities. The memorandum of understanding has been signed to this effect between the Ministry of Health and AmeriCares. Elpitiya base hospital is located in the town of Elpitiya in Galle District. The upgrading process consists of three phases; Under Phase 1 of the project from March 2006 to October 2006, the renovations were carried out totaling SLR 18,652,016 [US$171,710] in the hospital's Idle ward, Female medical ward, Female Surgical ward, OPD X-ray room, 1st and 2nd floor of OPD building, Current operating theatre, pediatric ward and Mental health Department. The renovations were carried out by Premium International and they have been selected as the consultants for the project. AmeriCares also has installed a water treatment system to increase the quantity and quality of water and ensure the supply of pure water for operating rooms, the emergency clinic, pharmacy and laboratory. In all, over SLR 328 million [US$3.02 million] will be invested...
Also see: "Arriving for Thanksgiving: Americares, Nestle Waters set up 1 million reserve of bottled water for rapid distribution in Appalachia"
• Australia's Victoria government 'Top 200' sites save water -- MELBOURNE, Australia, Jan. 24, 2007 -- Acting Victoria Premier John Thwaites today released figures from the State Government's 26 biggest water users across Melbourne, showing hundreds of millions of liters have been saved since 2000/2001. The figures released for the first time today are part of the 'Top 200' industrial water users list which includes 17 hospitals, Melbourne Zoo and the Melbourne Sports and Aquatic Centre. For sites that were in full operation in 2000/2001, a saving of 400 million liters per year has been achieved. On top of this, Royal Melbourne Hospital alone stands to save a further 60 million liters per year through the installation of water smart cooling towers. Speaking at the hospital with Health Minister Bronwyn Pike, Mr Thwaites said Australian-made 3C Coolers would be installed to replace traditional cooling towers...
• Multi-vendor equipment interoperability challenges world wireless sensor, transmitter markets -- DUBLIN, Ireland, Jan.24, 2007 -- (BUSINESS WIRE)--Research and Markets has announced the addition of Frost & Sullivan's new report: "World Wireless Sensors and Transmitters Markets" to their offering. This Frost & Sullivan research service titled "World Wireless Sensors and Transmitters Markets" provides a detailed analysis on the various wireless sensors and transmitters that cater to a number of end-user segments In this research service, Frost & Sullivan's expert analysts thoroughly examine the following sectors: home and building automation, industrial automation, aerospace defense and homeland security, healthcare, food and agriculture, energy and power, water and wastewater, inventory control and smart shelves, shipping - handling and smart containers, highway transportation and automotives, and OEMs...
-- "Electronic, Non-contact Flowmeters to Fuel Uptake of Flow Management Systems"
-- "Understand and Analyze the Bottled Water Manufacturing Industry in the U.S."
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-- " FutureTrends of the Social and Infrastructural Environment of Mexico Have Been Analyzed along with Their Impact on the EBT Industry"
• TORR Canada appoints new director -- MONTREAL, Jan. 23 -- TORR Canada Inc. (TCI), dedicated to providing water treatment solutions to the oil & gas industry, today announced the appointment of Paul M. Coppinger to its board of directors. Coppinger has extensive experience in the oil & gas service sector for two of the world's biggest Tier 1 Oil Field Services companies, as Vice President Sales and Marketing of EIMCO, formerly part of Baker Hughes's water-related process equipment division and also as Vice President and General Manager of Highland Artificial Lift Systems, a division of Energy Ventures Inc., now part of Weatherford. He holds a Bachelor of Science in Petroleum Engineering from Texas Tech University and is currently Group Vice President in charge of the Energy Products Segment at CIRCOR International Inc., responsible for developing tailor made solutions for customer-specific fluid control issues for the oil & gas industry...
Also see: "TORR to receive additional payments of US$1.6 million for oil-water separation contract in Kuwait"
• ZCL Composites Inc. announces acquisition of Xerxes Corp., US$30 million private placement EDMONTON, AB, Canada, Jan. 22, 2007 -- ZCL Composites Inc. is pleased to announce that it has entered into a share purchase agreement with the shareholders of XAHC Inc., the sole shareholder of Xerxes Corp., pursuant to which ZCL has agreed to acquire all of the issued and outstanding capital stock of XAHC. To partially fund the acquisition ZCL has entered into a private placement agreement with a syndicate led by Peters & Co. Limited, on a bought deal basis, whereby it will issue CDN$35 million [US$29.64 million] of subscription receipts. XAHC, a privately held U.S. company, is involved in the design, manufacture and marketing of fiberglass reinforced plastic (FRP) structural products for the petroleum, chemical, water and wastewater industries with over 260 employees operating from 5 principal locations in Minnesota, California, Texas, Maryland and Iowa. The aggregate purchase price for XAHC is CDN$47.8 million [US$40.8 million], subject to closing adjustments, including adjustments for working capital and certain post-closing vendor indemnities, payable in cash...
• Canada's aging water, wastewater systems in desperate need of new investment, management -- TORONTO, ON, Canada, Jan. 22, 2007 -- Cash-strapped governments across Canada need to encourage private investment in water and wastewater systems if the nation wants to better protect public health and the environment, urges a new report from The Fraser Institute, an independent research organization with offices across Canada. While the exact number of Canadian communities with substandard water and wastewater systems is unknown, problems across the country have been well documented, says the report, "Water and Wastewater Treatment in Canada: Tapping into Private-Sector Capital, Expertise, and Efficiencies". Names such as Walkerton, North Battleford and Kashechewan represent the most serious failures of drinking water delivery systems while significant amounts of wastewater on both the Atlantic and Pacific coasts are discharged into receiving waters with little if any treatment. The report points out that the failure of Canadian water systems is due primarily to the age of the systems, a growing population that exceeds the capacity of the systems, poor management and ill-trained staff, lax regulation, and a lack of capital and operating funds...
• Biopharmaceuticals growth gives Pall high expectations -- EAST HILLS, NY, Jan. 12, 2007 -- U.S. filtration specialist Pall Corp. is expecting to build a $1 billion (EUR 771 million) Life Sciences business over the next three years -- an objective fuelled by the growth of the burgeoning biopharmaceuticals and vaccines markets. Speaking at the JP Morgan Healthcare Conference in San Francisco this week, Eric Krasnoff, Pall's CEO, said that rapid growth of the biopharmaceutical sector and the explosion of the market for vaccines are boosting the company's Life Sciences segment, which generates 40% of Pall's business. The pharma industry has seen a biotechnology revolution in the past few years. With currently more than 300 drugs in late-stage clinical trials targeting more than 200 diseases, there is a growing thirst for raw materials, equipment and contract production to support bioprocesses found in a manufacturing flow sheet, such as mass cell culture, centrifugal cell separation, filtration, several types of chromatographic separation. Most of this demand comes from the United States, which now comprises more than 1,500 biotech companies with revenues just over $72 billion, according to recent industry data...
-- "Pall Aria AP Microfiltration Membrane System Delivers Budget-Friendly Compliance for Village of Groton"
-- "Largest UF water plant contract in North America awarded to Pall"