First published in Cleantech Infocus: 2010 - Equity Deals of the Year, January 2011. Copyright Cleantech Investor Ltd.
2010 was the year of Asian water IPOs. There were several large water sector IPOs in China, including the listing of water utility giant Chongqing Water Group (valued at $8.5 billion at the IPO price) as well as large IPOs for Beijing Water Business Doctor and Beijing Origin Water Technology Company. In India, VA Tech Wabag raised funding through an IPO in October, raising $28 million.
Meanwhile, the London Stock Exchange’s AIM market was the location for the listing of US company HaloSource. The company, which raised £31.5 million, has developed a technology for killing bacteria and viruses in drinking water.
In terms of venture investment, the countries of Israel and Singapore – both traditionally heavily focused on the water sector – have each featured amongst the fund raising deals for companies with innovative technology in this sector. Water technology deals during 2010 included Triton Water, a German company which raised funding from Singapore’s EDB Investments; and TaKaDu, an Israeli company which raised funding from Emerald Technology Ventures, alongside existing Israeli investors. Triton has developed CompEx, a rubber powder solution that separates oil from water and offers potential for applications including offshore oil spills. TaKaDu is a water infrastructure monitoring solutions company.
Chongqing Water Group Co. Ltd
IPO - Shanghai
The Chongqing Water Group, which listed on Shanghai in March, provides water and wastewater services to more than eight million residents in the Chongqing urban area. The company issued 500 million new shares at RMB6.98 each, valuing the company at RMB58.08 billion ($8.49 billion). Chongqing plans to invest in hydroelectric power using treated wastewater, as well as in an RMB8 billion programme to expand its water supply business by 60% and double its wastewater treatment capacity.
Beijing Origin Water Technology Company
IPO - Shenzhen
Origin Water, a Chinese company which has developed membrane filtration systems for municipal and industrial sewage treatment and recycling, raised $370 million from a share offering at a price of CNY69 on the Shenzhen Stock Exchange in April.
Beijing Water Business Doctor Co. Ltd
IPO - Shenzhen
Beijing Water Business Doctor provides industrial water treatment services for clients in the coal chemical, petrochemical and power industries. The company’s shares were listed on the Shenzhen Stock Exchange in February at a price of CNY65.69.
VA Tech Wabag Ltd
IPO - Mumbai
Shares in VA Tech Wabag were listed in Mumbai in October in conjunction with an IPO raising US$28 million. The company provides water technology solutions, focusing on the planning, installation and operation of drinking and wastewater plants for local government and industry in growth markets in Asia, North Africa, the Middle East and the central and south-eastern European states.
HaloSource Inc.
IPO – London Stock Exchange (AIM)
US water purification company HaloSource raised £31.5 million through an IPO on the AIM market of the London Stock Exchange in October. HaloSource, which is focusing on the Chinese and Indian markets, has developed HaloPure, a low cost technology for killing bacteria and viruses in drinking water.
Triton Water AG
Venture Capital Fund Raising
Triton Water, based in Norderstedt in Germany, received funding from EDB Investments (EDBI) of Singapore, Wölbern Private Equity GmbH and zouk ventures. Triton Water provides complete water-cycle industrial and maritime water treatment solutions. Its clients include Airbus, Philips and Hapag Lloyd. The company plans to build a presence in Southeast Asia. Triton is developing applications for CompEx, a rubber powder solution that separates oil from water and offers potential for applications including offshore oil spills.
TaKaDu Ltd
Venture Capital Fund Raising
Israeli water infrastructure monitoring solutions company TaKaDu received funding from Emerald Technology Ventures and existing investors Giza Venture Capital and Gemini Israel Funds. TaKaDu, founded in 2009, has developed an algorithm-based solution which provides a utility with real time control over network events. It can be deployed without any changes to the network or additional capital expenditure and is already serving utilities globally.
| < Prev | Next > |
|---|
