TEL Venture Capital Invests in MIOX CorporationJune 04 2013
TEL Venture Capital Invests in MIOX Corporation
Patented Technology for Cost-EffectiveWater Recycle & Reuse in Microelectronics Industry
Albuquerque, NM - June 4, 2013 - MIOX Corporation today announced a strategic investment by TEL Venture Capital, Inc., the corporate investment arm of Japanese semiconductor capital equipment manufacturer Tokyo Electron Ltd. This marks the first investment by an Asia-based investor in MIOX.
The TEL investment complements grants awarded to MIOX by the National Science Foundation (NSF) targeted toward the pursuit of coupling MIOX's core on-site oxidant generation technology with ultraviolet photolysis in an effort to provide a powerful and cost-effective water remediation process. MIOX is a venture capital-backed water technology company focused on on-site chemical generation whose current investors include DCM, Sierra Ventures, Flywheel Ventures, and Schlumberger Limited.
"We believe it will be beneficial to learn more about water treatment and the industry's needs," says Kay Enjoji, President of TEL Venture Capital. "This is an exciting investment in a company that has the leading technology in their field."
"We are honored by TEL Venture Capital's commitment to our company and their dedication to solve capacity-limiting water issues," says Craig Beckman, MIOX President and CEO.
While investment in cleantech as a whole has declined since 2011, investment in water technology by corporate venture capitalists continues to grow. According to market research firm Cleantech Group, water and wastewater investments increased 34% between 2011 and 2012 to $355 million across 65 deals. Analysts at Artemis Water Strategy have observed corporate strategic investors, family offices and private equity firms increasing their investment in water technologies over the last two years. Corporate VCs view new technologies for water management as a critical strategic advantage to improving their bottom line.
"MIOX is one of the ten companies that Artemis has identified for emerging growth investments," commented Laura Shenkar, Principal at Artemis Water Strategy. "Water companies are hitting a glass ceiling in scaling their operations beyond $10M a year. Rapid growth requires strategic partnerships, a strong pipeline of new technology and a seasoned team. MIOX stands apart as a company that has built strong partnerships in several industries, including oil & gas and food processing."
About MIOX Corporation
MIOX designs and manufactures systems that provide on-demand disinfection chemistry, eliminating the need to transport hazardous chemicals and reducing carbon footprint. MIOX systems are used in multiple applications through a wide range of products, cost-effectively producing disinfection chemistry from 1.0 to 3,000 pounds per day FAC (free available chlorine). With this flexibility, the applications range from large industrial cooling towers, water and wastewater treatment, and frac fluid disinfection to clean-in-place and dairy farm applications.Download Press Release