• Funding to boost R&D and accelerate global roll-out of i2O technology
• Leading engineer appointed company Chairman
Southampton, UK, 24 November 2014: i2O Water, the Smart Water Networks company, today announced that it has secured additional funding of £8 million to expand its research and development (R&D) activities in Southampton, UK, and provide additional commercial and technical support for its growing global network of partners and resellers.
This financing round was supported by existing investors Naxos Capital Partners and Nemadi Advisers, as well as new investor Ombu Group.
i2O Water’s patented Smart Pressure Management technology enables water companies to optimise the performance of their water distribution networks. It is currently used by 66 water companies and utilities around the World to save 235 million litres of water every day and ensure supply to many millions of people.
Stephen Bold appointed Chairman of i2O Water
i2O Water also today announced the appointment of Stephen Bold, formerly of BP and Sharp Laboratories, as its new Chairman. Stephen is a technology management specialist with an extensive engineering background and has been a non-executive member of i2O’s board since 2006.
Stephen Bold comments: “i2O’s technology provides water companies with a full range of tools to improve their business performance. We are delighted to announce this funding round, which enables us to respond to more of our customers’ needs and help them address the urgent challenges of supply resilience and water scarcity. I look forward to helping i2O further develop its portfolio of industry-leading solutions and expand the company’s global reach.”