Bluewater Bio Raises GBP22.5m from Ombu Group and Hermes GPE
Summary
The transaction was led by specialist Cleantech investors Ombu Group (Ombu) and Hermes GPE Environmental Innovation Fund LP (Hermes GPE), with GP Bullhound advising Bluewater Bio.The board of Bluewater Bio believes that this transaction represents one of the largest growth capital finance rounds in the water sector over the last 12 months and reflects the Companys recent commercial progress. They have developed a number of proprietary, robust and economically compelling products, and successfully established reference projects and partnerships in multiple countries. Now that the Company is successfully converting its strong pipeline into meaningful revenue from major customers such as Severn Trent and Degr\xe9mont, we felt the time was right to invest and are pleased to be working with OMBU on what we consider to be an exciting opportunity. Andr\xe9 Shortell, Partner, GP Bullhound, says: A funding on this scale ratifies Bluewater Bios position as a credible and high growth player in water and wastewater treatment. As an adviser that is active in water, GP Bullhound is pleased to have worked with Bluewater Bio on its equity raise; as it possessed the critical elements of management vision supported by an experienced technical and project team for execution, strong relationships with key players in multiple markets, and a profitable business model with effective route to market.