Natural Products Canada invests in innovative microbe-leveraging water purification technology
Natural Products Canada (NPC), a company that concentrates on enhancing commercialisation of natural products, has announced an investment in Island Water Technologies (IWT), a company that integrates engineering and nature to provide effective, money-saving wastewater solutions in municipal, industrial, and remote settings. Terms of the investment were not disclosed, however.
“Island Water Technologies is an excellent example of the high calibre investment opportunities in naturally-derived solutions right across the country,” Shelley King, CEO of NPC, said. “IWT has unique technologies backed by rigorous science that serve a large unmet market. We are very pleased to invest in their success.”
The deal comes on the heels of a string of wins for IWT, including its recent acceptance into esteemed water accelerator, Imagine H20, as well as pilot projects in China, the United States (U.S.), and Kenya, to name a few.
“It’s clear that our products are hitting the market at a time when wastewater issues are critical,” Dr Patrick Kiely, founder and president of IWT, commented. “This investment enables us to take full advantage of the strategic opportunities that lie before us and get these disruptive solutions deployed around the world.”
IWT’s success can in part be linked to the highly effective support system in the region, including the PEI BioAlliance, Emergence, Innovation PEI, the Atlantic Canada Opportunities Agency, Dalhousie University, and Innovacorp.
In addition, NPC is pleased to co-invest with regional investor, Island Capital Partners, working together to assess the opportunity, share due diligence, and provide counsel and advice to the growing company.
“There is increasing need and demand for sustainable, reliable and cost-effective solutions for waste water treatment and water purification,” Alex MacBeath, CEO of Island Capital Partners, added. “Island Water Technologies Inc. has developed innovative products with significant global market potential. We are pleased to be investing in IWT as it begins to commercialise next generation solutions.”