Funding will be used for strategic growth opportunities, project-level financing, technology deployment, and opportunistic acquisitions.
Gradiant, a cleantech water treatment solutions provider and projects developer, has raised over US$100 million in Series C funding. The round was led by financial and strategic partners Warburg Pincus and Schlumberger New Energy, and was oversubscribed from its initial target of $65 million.
The round brings Gradiant’s total funding to date to over $200 million since inception.
Gradiant develops and delivers advanced water and wastewater treatment facilities around the world, with a primary focus in the rapidly growing Asia-Pacific region for global brand owners and manufacturers with mission-critical needs in cleantech water and sustainable operations. The company offers a broad portfolio of technologies and services for end-to-end cleantech solutions that focus on water reuse, resource recovery, brine concentration for minimum and zero liquid discharge (MLD/ZLD), and digital solutions for plant performance optimisation. The company also offers flexible models for the design-build, operate-maintain, and financing of projects based on customers’ specific needs and situations.
The funding will enable Gradiant to further expand into strategic markets and industries, finance the equity contribution into new project assets, accelerate the deployment of Gradiant’s innovation and technology offerings, and strategically acquire complementary and synergistic companies in cleantech water and sustainability.
The company plans to grow its business in key sectors, such as food and beverage, microelectronics, pharmaceuticals, and mining, from its already established geographies in the Asia-Pacific, the US, and the Middle East.
Gradiant has experienced growth, with 2021 revenue expected to triple versus the prior year and the near-term financial forecast expected to continue to expand at an accelerated pace through its growing backlog of design-build (DB) and design-build-own-operate-manage (DBOOM) contracts. Strategic acquisitions of Sigma Water in Malaysia and CRS Water in Australia have created opportunities to access new customers, applications, and geographies when coupled with Gradiant’s clean water technologies, project development and financing capabilities. Gradiant’s recent growth is driven by project wins in Asia-Pacific, where the region’s rapid industrialisation and population growth have been driving the demand for clean water and sustainable technologies.