Aquafortus Raises $17M in Series A1 Funding
Summary
Aquafortus, an Auckland, New Zealand-based water technology company, raised $17M in Series A1 funding. The company intends to use the funds to allow the construction and deployment of a relocatable demonstration unit and commercial pilot across major US Oil and Gas basins and operators, as well as investment in core R&D. Led by CEO Daryl Briggs, Aquafortus develops and commercializes novel and proprietary minimal energy resource recovery technologies for dissolved solids (TDS) waste and process streams. The company uses a non-thermal, zero-liquid-discharge recovery and crystallization approach that uses 90% less energy, costs 60% less, and turns 98% of high salinity brine into fresh water, while extracting lithium, copper, magnesium salts, and other metals and minerals. Aquafortus targets industries that produce significant volumes of hypersaline water: mining, oil and gas production, chemical manufacturing, and power generation.