water technology company G2O recently announced a £1.035 million investment in a round led by private equity firm Maven Capital Partners, and plans to sign collaborative partnerships with suppliers and enter global markets to expand customer reach.
Maven Capital Partners, one of the UK’s most active private equity firms, has led a £1.035 million investment in Manchester-headquartered water treatment technology business. A total of £600,000 has been provided by Maven funds, which includes a £400,000 investment from NPIF – Maven Equity Finance, which is part of the Northern Powerhouse Investment Fund and a £200,000 investment from the Finance Durham Fund, both managed by Maven. The additional £435,000 is from a number of private individual investors.
The funding will enable G2O to carry out the next stage of its technical development and forge more collaborative partnerships with industrial partners from its Manchester headquarters.
G2O’s graphene-based coatings technology provides highly efficient and cost-effective solutions to a broad range of filtration applications and critically can be used in conjunction with existing filtration membranes and systems. The technology has the potential to be used across multiple markets including the treatment of waste water in the oil & gas industry for oil and water separation, industrial & processed waste water treatment, domestic water filters, and desalination.
Andrew Greenaway, Executive Chairman of G2O Technologies, said “We are thrilled to have completed our series B funding round with the support of Maven and the Northern Powerhouse Investment Fund. We are receiving a significant number of enquiries from industrial companies wanting to develop improved filtration technology in partnership with G2O, which is both encouraging and exciting. This funding provides G2O with the required resources to develop products to meet the market’s needs.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.