30 April 2012 08:54 [Source: ICIS news]
SINGAPORE (ICIS)--German producer BASF said on Monday its wholly owned subsidiary BASF Venture Capital has invested $7.5m (€5.7m) in US-based technology firm NanoH2O, Inc.
“The investment is part of a $40m equity round co-led by BASF Venture Capital together with other investors,” BASF said in a statement.
NanoH2O develops, produces and sells reverse osmosis membranes for seawater desalination, BASF said.
“NanoH2O has developed special nanostructured polymer-based membranes for seawater desalination which are particularly effective in removing the salt from seawater in a highly energy efficient way,” said BASF Venture Capital's managing director Dirk Nachtigal in the statement.
($1 = €0.76)
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