Water Planet Announces New Series B Round of Funding

LOS ANGELES, Calif. (Aug. 31, 2015) – Water Planet has received a new Series B round of funding to continue the development and commercialization of its industrial wastewater treatment technologies. The funding round includes investments from Air Liquide's ALIAD Corporate Venture fund, Bluestem Capital and UCLA Venture Fund. In conjunction with the new funding, the company has restructured as a Delaware C-corporation and changed its name from Water Planet Engineering, LLC to Water Planet, Inc. “This round of funding represents an important step forward for Water Planet,” said Eric Hoek, CEO of Water Planet. “We now have the capital to commercialize PolyCera® membrane technology and to drive sales of our broadening portfolio of innovative products. Our new investors add significant value beyond the infusion of capital. They bring great experience in early stage companies as well as global access to customers, which will further fuel our growth.” As a producer and supplier of industrial gases and related products and services, Air Liquide's strategic investment into Water Planet's value goes beyond capital, as the two plan to collaborate on current and future products and services. Industry-focused institutional investor Bluestem brings experience working with successful startups within the energy, water, food, agriculture and biotech industries. "We value Air Liquide’s confidence in our technologies and the future this represents not only for our company, but also for the water treatment industry. We are already engaged with them to develop unique offerings for water reuse and look forward to bringing other services and products to market together," said Subir Bhattacharjee, Ph.D., co-founder and chief technology officer of Water Planet. Since founding in 2011, Water Planet has provided water treatment membrane-based products, solutions and services on six continents.