AquiSense closes Series A investment
UV-C LED disinfection system company AquiSense has secured Series A investment led by Burnt Island Ventures, following a recent management buyout.
Further investment for the US company comes from a local Kentucky Capital Fund and returning private seed investors led by Randy Knapmeyer. Funds will be used to accelerate growth in a broad range of water treatment applications including beverage, pharmaceutical, oil & gas and municipal.
Founded in 2014, AquiSense was one of the first companies to commercialise UV-C LED technology for water disinfection applications. It now has over 500,000 installations globally. The company currently provides UV-C LED disinfection solutions for point of use, point of entry, laboratory and full-scale industrial and municipal applications.
AquiSense founder and CEO, Oliver Lawal said: “UV Disinfection has been a star performer in water treatment for the past couple of decades and this investment validates our position that UV-C LED technology isn't a future abstract notion, but the core driver to continue this growth".
He added: "We have strong customer partnerships in the US, Europe and Asia that value the full life-cycle benefits of our products and it’s refreshing for us to know that the Burnt Island team understand that completely".
According to Steve Kloos, partner at Burnt Island Ventures, the investment firm was drawn to AquiSense's management team; the company's deep know-how and strong patent IP; and the benefits of UV LED systems over legacy mercury UVs. Kloos said: "We like to skate to where the puck is going and AquiSense has a bright future ahead,”
Currently, the majority of the UV disinfection market uses mercury-based lamp technology, but these face global usage restrictions, with an eventual new mining ban in 2032, as set out by the UN Minamata Convention on Mercury. The convention, adopted in 2013 and entered into force in 2017, aims to reduce mercury pollution which is one of the World Health Organisation’s top ten chemicals of ‘major public concern’.
