IW Capital has announced the completion of a successful investment in LAT Water Ltd. Led by IW Capital, £4.7 million has been raised in the round to accelerate LAT Water’s commercial growth in developing sustainable wastewater treatment solutions globally, following early success both in the UK and China.
The LAT technology process separates and recovers clean water from highly contaminated industrial water utilising waste heat. The system is highly scalable and can be installed for treating flows from one to over 1000 cubic metres per day of effluent, delivering up to 60% cost savings for the operator and contributing to reductions in greenhouse gas emissions.
The process is capable of treating wastewater for a wide range of applications, including, notably, the treatment of wastewater from landfill sites. This helps both with the odour associated with such sites as well as reducing the costly and environmentally damaging need to transport the waste off-site for treatment.
The investment follows a successful start to 2021 for the company. Despite difficulties faced by Covid-19, LAT Water has kept on track with key targets both across the globe and closer to home. The maiden installation located at the Daxin landfill, in Shenyang, China, has now been successfully operating for over two years. This has been followed by the construction of a show case facility at a Viridor site in the west of England.
Mark Hardiman, LAT Water CEO, commented: ‘LAT Water is delighted to conclude this latest round of funding and partner with IW Capital. IW shares our direction, motivation and ambition and we are excited to begin this partnership. This funding enables us to push forwards our targets of providing innovative, sustainable, low cost solutions for wastewater treatment.’
Luke Davis, CEO of IW Capital, commented on the investment: ‘We are very excited to invest in this innovative water treatment company that is positioned to make a major positive impact in addressing the climate crisis. It is inspiring to see the steps the company is taking in addressing what is a growing problem for industries worldwide. We look forward to supporting LAT’s experienced management team and help deliver future growth.’