Seven Seas Water receives $20M for water desalination
Removing the salt and other minerals from sea water has always been an expensive process, due to the cost of both building and operating plants. Seven Seas Water handles the process for Caribbean municipalities, as well as hotels and other private facilities.
The company, which is based on the island of St. Thomas, designs, builds and operates its own facilities in locales where fresh water is both expensive and scarce, bringing in a continuous cash flow for investors.
The $20 million round was led by TPG Growth and Element Partners, according to VentureWire (subscription required). Virgin Green Fund, Advent-Morro Equity Partners and CEO Doug Brown also participated.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.