Newtown firm raises €3m investment funds
Newtownmountkennedy Water tech company H2Ozone has raised €3m in new investment to help support the commercialisation of its unique technology for purifying water.
The funds raised by the company will be used to increase its sales and marketing capabilities as it grows international sales of its units that purify water using filtration, ultra-violet (UV) light and ozone. Initially, the international sales focus will be on the UK, French, Dutch, Belgian and South African markets.
H2Ozone Executive Chairman Paul O'Grady said: 'We see a global market opportunity for this technology, and we're very pleased to have raised the funds to embark on the next phase of the company's growth.
'Our product provides a chemically free and cost-effective way of purifying water from any source, and removes the threat of bacteria like cryptosporidium which is a global challenge and in recent months in Ireland has been shown by the EPA to have threatened the water supply of over 163,000 people.'
Concerns over water quality after a recent Environmental Protection Agency (EPA) report could also open up opportunities for H20zone. E.Coli is present almost a third of Irish private wells, and in September the EPA identified water supplies serving more than 163,000 people required treatment to prevent cryptosporidium occurring in water.
H2Ozone's patent protected technology removes the threat of bacteria and micro-organisms in water including E.Coli, Salmonella, Legionella, and Cryptosporidium, and can be used to treat water from any source, such as wells, rainwater or municipal supply..
The quality of the water produced has been verified by independent certification bodies including KIWA, ACS. The water standards exceed those required under European Drinking Water legislation and the solution is CE Regulated.
The AgriSafe system from H2ozone is particularly tailored for livestock producers, delivering a controlled measure of ozonised water has resulted in significant improvements in mortality, yield, bio-security, feed conversion ratios and profitability across the poultry, piggery, beef and dairy sectors.
H2Ozone Chief Executive Michael Delaney said: 'bacterial contamination and the increase of antibiotic resistance is of major concern in the agricultural sector. The ozonised water produced by our Agrisafe system means a significant reduction in the need for antibiotic intervention for livestock and improved weight gain delivering higher yields.
'The RainSafe system, which is designed for human use, will benefit businesses in the hospitality, medical, agricultural, food processing, security and pharmaceutical sectors can ensure the safety of their water supply 24/7 365 days per year.'