Water tech company H2Ozone has raised €3million in investment to help support the commercialisation of its unique technology for purifying water.
The company, with headquarters in Newtownmountkennedy, will use the funds to increase sales and marketing capabilities as it grows. Its units purify water using filtration, ultra-violet (UV) light and ozone.
The initial international sales focus will be on UK, French, Dutch, Belgian and South African markets. H2Ozone already has customers in UK, Switzerland, Portugal, Holland, Belgium and Barbados.
Following concerns about water quality by recent Environmental Protection Agency reports, H2Ozone also sees opportunities to boost sales in Ireland. The patent protected technology removes the threat of bacteria and micro-organisms in water including E.Coli, Salmonella, Legionella, and Cryptosporidium, and can be used to treat water from a variety of sources.
The quality of the water produced has been verified by independent certification bodies and the water standards exceed those required under European Drinking Water legislation.
Commenting on the announcement, H2Ozone Executive Chairman Paul O’Grady said: “We see a global market opportunity for this technology, and we’re very pleased to have raised the funds to embark on the next phase of the company’s growth.”
“Our product provides a chemically free and cost-effective way of purifying water from any source,” he added.
The funds were raised from a group of high net worth investors and Irish private equity firm Danu in a round organised by Focus Capital Partners.