Maven leads £1m investment in water technologies business G2O
Private equity firm Maven Capital Partners has led a £1.035m investment in Manchester-headquartered water treatment technology business, G2O Water Technologies.
A total of £600,000 has been provided by Maven funds, which includes a £400,000 investment from NPIF-Maven Equity Finance, which is part of the Northern Powerhouse Investment Fund, and a £200,000 investment from the Finance Durham Fund, both managed by Maven.
The additional £435,000 is from a number of private individual investors.
The funding will enable the business to carry out the next stage of its technical development and forge more collaborative partnerships with industrial partners from its Manchester base.
G2O’s graphene-based coatings technology provides highly efficient and cost-effective solutions to a broad range of filtration applications and critically can be used in conjunction with existing filtration membranes and systems.
The technology has the potential to be used across multiple markets, including the treatment of waste water in the oil and gas industry for oil and water separation, industrial and processed waste water treatment, domestic water filters, and desalination.
With an increasing need for high quality drinking water using affordable solutions in both industrialised nations and the developing world, together with increasing regulatory and cost pressures, G2O has identified a major opportunity to provide high separation efficiency solutions to real world problems for a range of contaminants.
The total global market for managing produced water was worth $146.81bn in 2016.
Within this the sub-market segment of industrial and waste water treatment is estimated to be worth $26.77bn with a growth rate of 5.8% per year.
Jeremy Thompson, investment manager at Maven, said: “G2O has the potential to deliver genuinely transformational products and become a pioneer in its field, creating products that offer affordable solutions to a variety of different markets, both domestic and global, and most importantly, global water filtration.”
Andrew Greenaway, executive chairman of G2O Technologies, said: “We are receiving a significant number of enquiries from industrial companies wanting to develop improved filtration technology in partnership with G2O, which is both encouraging and exciting.
“This funding provides G2O with the required resources to develop products to meet the market’s needs.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union, using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
