Houston, Texas-based investment company Envirogen Technologies has secured $50 million in equity finance from an undisclosed international provider of alternative investment solutions to invest in a pipeline of design, build, operate (DBO) environmental treatment projects.
Envirogen will invest the money in municipal projects, including drinking water and wastewater treatment and groundwater remediation for organic and inorganic contaminants; and industrial projects expected to include groundwater and wastewater treatment as well as environmental improvement projects such as the recovery of materials from process or waste streams for use as recycled materials.
Among other projects, Envirogen was recently awarded eight new contracts across the US featuring a ‘green’ biofiltration technology for odour control at municipal wastewater facilities.
Envirogen was formed in October 2009 by Amplio Filtration, a subsidiary of Amplio Group, from the assets of former Nasdaq-listed Basin Water, which Amplio acquired under Chapter 11 for $2 million. Amplio Group is a London-based investor in renewable energy, alternative fuels, filtration, recycling and environmental services.
Earlier this month, Amplio Filtration acquired a majority stake in Puresep Holdings, a UK water purification, filtration and separation company. The acquisition was the company’s first outside the US.
Aside from Amplio Flitration, Amplio Group also owns Amplio Solar and Amplio Biogas. The solar business recently raised €40 million from institutional investors to build a pipeline of 100-megawatt solar plants.