FloWater Secures $15 Million Investment from Bluewater to Accelerate Growth and Reduce Single-Use Plastic Waste
DENVER--(BUSINESS WIRE)--Dec 21, 2018--Fast-growing FloWater, makers of new-tech water Refill Stations, announces a $15 million Series B investment from Bluewater, a world leader in sustainable home, commercial and public water technologies and solutions.
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President of Bluewater and Co-Founder & CEO of Blue Anders Jacobson and FloWater CEO and Co-Founder Rich Razgaitis (Photo: Business Wire)
Incubated in Silicon Valley, FloWater customers include: Google, Red Bull, Airbnb, prAna, Oneill, Play Station, Specialized Bikes, and Stance, as well as thousands of hotels, gyms, schools, and concert venues in nearly 50 states, creating a new experience with water, one that brings consumers back to the tap and eliminates destructive plastics.
With FloWater having recently achieved the milestone of eliminating 100 million plastic water bottles from the market since its launch in 2013, Bluewater becomes FloWater’s largest investor and will provide strategic resources to accelerate FloWater’s mission to eliminate 1 billion plastic water bottles from the ecosystem by the year 2022.
Connecting to any potable water line, FloWater Refill Stations extract up to 99% of all contaminants and harsh chemicals, including lead and chromium 6, and delivers fast-flowing, purified and chilled water that has also been oxygenated, alkalized and revitalized with electrolytes and trace minerals for better hydration. A coconut carbon filter ‘finishes’ the water for a better taste.
“FloWater and Bluewater make for a natural fit thanks to our shared commitment to end the need for single use plastic bottles and a mutual people-centric culture that builds on unsurpassed dedication to quality, continuous innovation in technology and planet-friendly solutions and a passion to enhance human health and wellbeing,” said Anders Jacobson, President of Bluewater and Co-Founder & CEO of Blue, the international impact-focused investment company owning Bluewater.
Mr. Jacobson added that “Bluewater’s investment was also a result of FloWater’s growth trajectory in the U.S., and the quality and composition of its leadership team led by Rich Razgaitis.”
According to FloWater CEO and Co-Founder, Rich Razgaitis, “Bluewater’s leadership team have been global visionaries in pioneering new approaches in sustainability and enhancing people’s health and wellbeing. Anders Jacobson, and his leadership team brings deep expertise in product development and strategic planning, along with an extensive network of international relationships and resources.”
The transaction closed at December 20, 2018. Livingstone Partners served as the advisor to Bluewater.
Bluewater is a world leader innovating, manufacturing, and commercializing water purification technologies and solutions for home, commercial and public use that harness the company’s patented reverse osmosis technology to remove virtually all pollutants from water, including lead, bacteria, pesticides, medical residues, chlorine, micro plastic fibers and lime-scale. Bluewater is a wholly-owned member of Blue, an investment company that serves as a catalyst for innovations that can solve some of the major challenges facing the planet. Blue invests in and operates international companies and organizations that apply human ingenuity to deliver resourceful, sustainable solutions serving as a force for good in society.
Incubated in Silicon Valley, FloWater has re-invented the ‘water cooler’ to wean US companies off the plastic water bottles they serve to their employees and customers. FloWater is already working with the likes of Google, Red Bull, Airbnb, prAna, Oneill, Play Station, Specialized Bikes and Stance, as well as with thousands of hotels, gyms, schools, and concert venues in nearly 50 states on a new drinking water experience. Since its launch in 2013, FloWater has eliminated the need for more than 100 million plastic water bottles.
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CONTACT: Melanie Frenkel on Behalf of FloWater
Phone: 602 476 2547
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: NATURAL RESOURCES OTHER NATURAL RESOURCES ENVIRONMENT RETAIL FOOD/BEVERAGE SPECIALTY
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PUB: 12/21/2018 07:00 AM/DISC: 12/21/2018 07:00 AM