STOAF III SciTech, Almi Invest and SEA (Sustainable Energy Angels) are investing a total of SEK 10 million in Stockholm Water Technology, which offers smart, clean, and sustainable water purification solutions primarily for industrial use. The money will go towards market introduction and product development.
Around 2.2 billion people are currently estimated to lack access to a necessary amount of clean drinking water. This means that the demand for circular and sustainable water treatment methods is increasing as resources decrease and requirements are increased through laws and regulations.
After many years of research, Stockholm Water Technology (SWT) has developed a water purification solution that enables sustainable, affordable, and efficient water management. The patented solution requires lower energy compared to existing alternatives because it is independent of water temperature, has high water recovery and does not have membranes, which requires more energy.
The company has developed a strong and patented technology in a rapidly growing area, says Marcus Boijemyr, Fund Manager at Almi Invest. SWT addresses a large and growing market where their technical solution is cheaper, energy efficient and more scalable compared to today’s solutions.
SWT’s unique ability to use a single technology, purifying water from many different contaminants, will have a groundbreaking impact in many applications where a combination of several different systems is required today, says Magnus Eriksson, General Partner at STOAF III SciTech. SWT fits well into our investment strategy, which focuses on companies with complex, advanced technology, global market and contributes to a sustainable world.
SWT has a uniquely effective and energy-efficient solution in water purification, one of the most important areas for a future sustainable world, says Olof Heyman, Investment Manager at SEA. Through its combination of AI and technical solution, it has created a highly competitive product.
SWT is in various stages of testing and sales with some fifteen customers and has already sold some units. The company is now facing market introduction, where the focus will be primarily on water treatment in the industrial sector and in the real estate sector, primarily municipalities.
”We are very excited about this investment,” said Dr Karthik Laxman Kunjali,CEO and founder of Stockholm Water Technology. Now we can invest in expansion and seriously introduce our product, which is suitable for many different application areas and has better potential to work on a larger scale than existing solutions.
For further information contact
Karthik Laxman Kunjali, CEO Stockholm Water Technology, email: firstname.lastname@example.org
Magnus Eriksson, General Partner, STOAF III SciTech, phone +46 (0)733 40 04 64, email: email@example.com