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The company announced the financing, which will be used to commercialize its new bio-electrode sensor technology, at a reception today in Charlottetown.
In an interview, CEO Patrick Kiely said that both investors are contributing through convertible loans, meaning the investment will become an equity stake when the b,og raises its next funding round. Island Capital is a relatively new group of iwt blog based on P. NPC is a national organization based in the P. We needed 12 months to validate certain technical milestones and this cash allows us to get across iwt blog chasm of doom.
Based in Montague, P. Regen is a solar-powered system that can treat waste water for remote facilities ideally housing 75 to people. And the company also offers ClearPod, an efficient septic system for individual households.
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The company now has three installations of its Regen product, and Read more said the company iwt blog working on more sales, especially in the Middle East and North Africa, though bllog declined to name potential customers. Kiely admitted ClearPod is not yet selling in the numbers he would like, though the company hopes to increase its sales soon. IWT will use part of the proceeds from this round to commercialize its bio-electrode sensor technology, which it calls Sentry and has been working on for 4.
Sentry is a monitoring system that resides in the water treatment system and allows the operator to view the biology within the system in iwt blog on a computer or mobile device.
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In a statement, the two investors said the demand for systems that treat and clean water is growing around the world and IWT fills a market need by providing systems designed for outlying areas. We are pleased to iwt blog investing in Island Water Uwt as it begins to commercialize next generation iwt blog. Natural Products Canada CEO Shelley King added that the aspect of the funding round that pleases her is the way so many parties are contributing to the ecosystem for such companies.]
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