Stonehouse Water Technologies LLC, an early stage start-up developing water purification products for communities, has just completed their first funding round totalling US$1.55M. The strong financing round exceeded the initial goals set forth by Stonehouse Water Technologies President Hensley Foster.
Stonehouse’s patent pending technology provides a unique and modular energy efficient water purification system for residential, commercial, and agricultural properties, all contained in the space the size of a dehumidifier. The final manufactured product, which will be marketed as the WaterPOD 8™ (Purification On Demand), will be commercially available in early 2018.
“In addition to developing effective, efficient and disruptive technology, we’ve also built a strong team and partnerships that will continuously improve our products and take them to market,” Dr Moe Mukiibi, chief technology officer (CTO) for Stonehouse, said.
Stonehouse’s leaders credit their residence in Milwaukee’s Global Water Centre and guidance from The Water Council, an economic development organisation spearheading the water technology cluster in southeast Wisconsin, United States (U.S.), as instrumental in creating the positive momentum that triggered the investment.
Mark Sellers, the lead investor, and his team sold MGS Manufacturing Group to Mason Wells in 2016. Sellers, the founder, grew the Wisconsin based and internationally recognized industry leading plastic injection moulding and tool and die Company to over 1,400 employees.
“Stonehouse’s technology and team represents Milwaukee’s strong expertise in the water, manufacturing and growing technology industries,” Mark Sellers stated. “We are looking forward to a strong partnership leveraging our manufacturing and design experience with Stonehouse’s innovation and successfully piloted products.
Stonehouse was recently designated a Qualified New Business Venture (QNBV) by the Wisconsin Economic Development Corporation (WEDC).