Friday, 28 October 2016
Last updated 12 hours ago
Jan 7 2009 | 9:45am ET
Two cleantech venture capital firms are taking the plunge into a clean water technology firm. Austin, Texas-based startup Advanced Hydro has raised $500,000 in seed investment from Quercus Trust and 21 Ventures. It has also concluded licensing terms for Dopamine Technology from The University of Texas.
“Dopamine technology has shown great potential for alleviating fouling in membrane based water filtration systems,” said Benny Freeman, professor of chemical engineering at the University of Texas at Austin.
“We are very excited to have the opportunity to commercialize this promising cost reduction technology, as the need for clean, easily accessible and affordable water has been on the rise,” said Dileep Agnihotri, CEO of Advanced Hydro. “I am very delighted to have Quercus Trust and 21 Ventures as investment partners. Their commitment to support early stage, disruptive, clean technologies from startup to revenue generating successful companies has been a unique and successful business model.”
The Quercus Trust is a cleantech venture fund in North America with strategic investments in the clean technology areas of solar, water, bio-fuels, wind and batteries.
The other investor, 21Ventures, is a venture capital fund. Its fields of expertise include clean technologies, mobile software and security. 21Ventures invests primarily in early seed companies possessing proprietary technologies poised to change the market landscape.