Hydroleap, the next-generation green wastewater technology company headquartered in Singapore, has on Tuesday announced it has raised $4.4 million in Series A funding.
The funding round was led by Japanese Venture Capital firm Real Tech Holdings, and joined by a mix of new and existing corporate investors such as Mitsubishi Electric, Seeds Capital, Wavemaker Partners, New Keynes Investments, as well as the State Government of Victoria in Australia, Hydroleap said in a statement.
According to the statement, this funding comes at a time when the company is gearing up to take the leap towards its next ambitious growth milestone in Asia Pacific (APAC) with the purpose of driving water sustainability globally.
Fuelled by the funds, Hydroleap will enter new APAC geographies like Australia, Japan and Indonesia, over the next two years to help companies across data centers, Food & Beverage (F&B), manufacturing and mining industries, lower their water and carbon footprints by treating wastewater in an efficient and environmentally friendly way.
Bringing more advanced electrooxidation technologies from lab to land, Hydroleap will set foot in a new vertical for palm oil effluent treatment.
According to Hydroleap, palm oil mill effluent (POME) poses one of the most challenging problems to the wastewater treatment industry due to its adverse effect on the environment, and high degree of oil and organic content.
Hydroleap said it will also dial up innovation while boosting its proprietary electrochemical treatment capabilities in existing verticals like cooling tower water recycling and F&B wastewater treatment.
Additionally, the funding will be used to strengthen and build a strong world class Research and Development (R&D), and operation teams in Singapore and Australia.
“This is an exciting time at Hydroleap as we enter new growth dimensions with a full tank,
“The demand for efficient, and sustainable industrial wastewater treatment is growing as countries become more water stressed,” said Mohammad (Moh) Sherafatmand, Founder and Chief Executive Officer of Hydroleap.
According to him, the firm’s intention is to develop global best practices for the most eco-friendly, efficient and cost-effective water treatment technologies and infrastructure, that help companies meet their environmental, social and governance (ESG) goals and benefit the planet.
“Our experience of working with multiple multinationals for F&B wastewater treatment and cooling tower water recycling in the past few years, has strengthened us to take a bigger step now,” he added.
Meanwhile, with the support of the Victoria State’s investment attraction agency, Hydroleap aims to help resource intensive data centers and mining industries in the country, manage and recycle wastewater.
In Japan and Indonesia, apart from plans to support data centers whose water consumption is considerably high, they would look to equip manufacturing industries such as paper in the former, and palm oil industries in the latter, with their arsenal of wastewater technologies.
“Water is life’s cornerstone; its importance can’t be overstated. Hydroleap, at this crux, is leading the way in revolutionizing water treatment solutions,
“Their deep technological prowess enables them to tackle the challenges of escalating water scarcity,” said Louis Murayama, Managing Director, Real Tech Holdings Singapore.
He said that by investing in Hydroleap, the firm is not just supporting the proliferation of green wastewater practices within the industry, but actively fostering a future where clean water is accessible for all.
“This investment is more than a strategic decision; it’s our commitment to global health, sanitation, and a sustainable future,” he added.
Mitsubishi Electric Executive Officer Hiroshi Sakakibara said Hydroleap is a rare green company using innovative technologies to treat wastewater at a big scale and shall open up a myriad of opportunities to enable sustainable use of water in the industrial sectors, especially complex areas of industrial wastewater treatment.
“Quick action is needed as we work on securing a sustainable future for generations to come, and conservation of water as a precious resource, cannot be taken lightly.” he added.
Invest Victoria Chief Executive Officer Danni Jarrett said the state’s investment in Hydroleap ties into its intentions to create real impact guided by our purpose of creating a prosperous and sustainable society.
“As Australia’s cleantech sector hub, we’re looking forward to the opening of Hydroleap’s manufacturing and R&D presence in Victoria,” he said.
He also said the technology the company offers is an important solution to treating wastewater in a cost effective and environmentally responsible way.
“Through State Government support, we have the ability to attract innovative companies and the brightest minds from around the world to benefit all Victorians,” he added.
Founded in 2016, Hydroleap is revolutionizing the way industrial wastewater which is treated across multiple sectors, through solutions that are automated, robust, cost-effective, and environmentally friendly.
Driven by a team of specialized R&D experts behind the scenes, Hydroleap’s unique electrochemical techniques can enable a reduction of up to 95 percent pollutants present in industrial wastewater.