Press release
Capital increase at German technology leader in ultrafiltration solutions: inge Secures €5 Million of Growth Capital
Multibore® Ultrafiltration Membrane of inge watertechnologies AG
Greifenberg, 07.07.2009 – inge watertechnologies AG, the global technology leader in ultrafiltration membranes for water treatment solutions, has concluded a financing round of 5 million euros. This round also included the securing of new investments from BayTech Venture Capital GmbH in addition to long-term investors Taprogge Watertech GmbH, Emerald Cleantech Fund I LP, Sustainable Performance Group N.V. (SPG), Siemens Venture Capital GmbH (SVC), StoneFund N.V. and Entrepreneurs Fund LP. The financing round led by BayTech has significantly strengthened the company's capital base in the current economic crisis and provides firm foundations for further international growth.
Founded in the year 2000, inge watertechnologies develops and produces its patented Multibore® membrane technology at its headquarters in Greifenberg, Germany. The company provides its customers with a comprehensive range of products, ranging from the membrane itself to a variety of module designs and a modular rack construction. Its products are characterised by the high standards of quality for which German-made goods are famous. They represent the key components of the water treatment systems used in a wide range of applications in both the public and industrial sectors. Since 2002, numerous customers all over the world have equipped their plants with inge technology, allowing them to benefit from best-in-class reliability and the consequent reductions in operating costs.
Bruno Steis, the CEO of inge watertechnologies AG, is delighted with the successful conclusion of the financing round: “The major interest in inge expressed by numerous investors prior to this financing round emphasises just how important water treatment technologies are both for us and for future generations. We seized the opportunity to bring on board another highly-regarded venture capital company in the form of BayTech in order to further strengthen our investor base. The proceeds from this capital increase will allow us to maintain our consistent momentum of international growth while simultaneously equipping us to deal with any uncertainties the crisis may yield.”
Dr. Michael Hochholzer, Partner at Munich-based BayTech Venture Capital: “We have been closely following developments at inge watertechnologies AG for quite some time. Our careful analysis has convinced us that the company's team, technology and strategy are on the right path. By taking a stake in this experienced and highly-specialised ultrafiltration company we have gained an opportunity to enter the globally expanding water treatment market with all its long-term potential.”
About inge watertechnologies AG
The company inge watertechnologies AG, based in the town of Greifenberg on the Ammersee lake in Bavaria, Germany, employs more than 80 staff and is the world's leading provider of ultrafiltration technology, a membrane process used to treat drinking water, process water, wastewater and sea water.
With a global reach enhanced by its network of partners, the company has implemented numerous reference products around the globe featuring its cutting-edge technology. Its range of products include highly-efficient ultrafiltration modules and cost-effective, space-saving rack designs as the core components of water treatment plants, rounded off by superb levels of technical customer support. All the company's products are based on the in-house development of its patented Multibore® membrane technology, providing the top-quality standards for which German-made goods are known.
The extremely small-pore filters of the Multibore® membrane reliably intercept not only particles, but also microorganisms such as bacteria and viruses, thereby providing a dependable source of clean water. Deployment of the inge technology also offers significant advantages over conventional water treatment methods, such as rapid and easy installation of the modules and stable, extremely resilient membranes. This makes planning a water treatment plant much simpler while ensuring low-cost installation and operation. And all of this comes with a guarantee of long-lasting reliability.
About BayTech Venture Capital
BayTech Venture Capital is a leading European Venture Capital firm with the ambition to help the best entrepreneurs build the most successful companies in their fields of expertise.
BayTech invest at an early or in expansion stage in technology, clean tech and life sciences start-up companies in Western Europe. Its contribution to success in the growth phase of these companies is not limited to capital. The money they provide goes along with their experience in company building and the industry expertise of their investment professionals, access to their worldwide network and the respect for the values and the contribution of the entrepreneurs they work with.
About the Entrepreneurs Fund
The Entrepreneurs Fund (www.entrepreneursfund.com) is the venture capital member of the COFRA Group, a global, family-controlled group of businesses. The Entrepreneurs Fund has €100 million under management, which it invests in early stage and growth companies owning strong technology/IP, with a focus on Europe. Sectors of interest include life sciences and cleantech sectors, including automotive technologies but excluding solar and wind. The Entrepreneurs Fund is an active investor working closely with outstanding management teams in developing their businesses. The Entrepreneurs Fund brings the long term perspective, experience and global outlook of a family business in its 5th generation. Successful deals of the fund include Celtel and REC and the JV between Perfect Vision and Bausch & Lomb.
The investments in REC and Q-Cells led to the foundation of Goodenergies, an investment fund focused on renewable energies.
About Emerald Technology Ventures
Emerald Technology Ventures is a global leader in cleantech venture capital and operates from offices in Zurich, Switzerland and Montreal, Canada. Founded in 2000, Emerald is a pioneer in this rapidly emerging sector and is focused on innovative technologies in energy, advanced materials and water. Since inception Emerald has managed three venture capital funds and two venture capital portfolio mandates totaling over EUR 300 million (USD 440 million). Emerald is currently investing out of its latest fund and is looking for energetic and passionate entrepreneurs with the vision to build world-class clean technology companies.
About Sustainable Performance Group AG
Sustainable Performance Group AG (SPG) is the world’s first listed investment company for sustainability investments. SPG is an investment vehicle that enables private and institutional investors to benefit from the attractive growth outlook for sustainable megatrends. SPG combines the future-oriented themes of energy, water, healthy living and resource efficiency in a single share. SPG’s strategic focus is aimed at incorporating these growth themes in a diversified portfolio and investing in promising small- and medium-sized companies throughout the world that are involved in those fields. The portfolio is supplemented up to a maximum of 10% with direct investments in young unlisted companies (private equity). Sustainable Asset Management AG acts as investment advisor to SPG.
About Siemens Venture Capital
Siemens Venture Capital (SVC), the central venture capital organization within Siemens, invests in early-stage technology companies and established growth companies, focusing on the energy, industry and healthcare sectors. In this way, SVC identifies innovative solutions from which Siemens can profit and plays a key role in Siemens' global innovation network. To date, the company has invested more than EUR 800 mn in over 150 companies and 40 venture capital funds. In addition, SVC advises the German Siemens pension funds on their private equity allocation. It is in this context that SVC has launched the venture capital fund of funds Siemens Global Innovation Partners I. Siemens Venture Capital is represented in Europe, Asia and the US and is part of Siemens Financial Services.
About TAPROGGE Watertech GmbH
TAPROGGE Watertech GmbH is a fully owned subsidiary company of TAPROGGE GmbH and functions as investment vehicle for TAPROGGE Group regarding technologies relating to water, desalination and energy efficiency. TAPROGGE is a mid-size Corporation headquartered in Wetter, Germany, which since its foundation in 1953 has been entirely focused on “cleantech” solutions. In particular, TAPROGGE is the technology driver and worldwide market leader for specialized and proprietary system solutions pertaining to the optimization of energy efficiency and plant availability of large-scale water circuits in thermal power plants and seawater desalination plants. TAPROGGE systems are installed in more than 15.000 applications worldwide. TAPROGGE is active in more than 100 countries of the world.
About StoneFund N.V.
StoneFund is funded by the Colruyt family. Through several generations, this family established and grew Colruyt nv, the third largest groceries retail chain (in terms of sales) in Belgium, yet the most profitable since long. It has conquered its share of the market amidst the no-nonsense, price sensitive family buyers. The Colruyt family stands for a lifestyle that takes a constant interest in and care for the world surrounding us. This basic philosophy leads to a great openness for the new and unknown, resulting in a great deal of innovation in retailing goods (their core business), introducing new technology in areas that had never been considered before, and a constant search for better, more efficient, less resource consuming technologies. A first VC fund of 40 mio Euro started in 2000. In 2005 they started with a second fund, completely focussed on Cleantech. In 2009 the third fund starts.
inge watertechnologies AG
Flurstrasse 27
86926 Greifenberg
Germany
Phone +49 8192 997-712
Fax +49 8192 997-999
E-mail tgebhart@inge.ag
Web www.inge.ag
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