Budapest, October 20, 2021.
The Water Impact Fund, managed by Susterra Capital Partners Ltd., acquired 48 % in Inwatech Ltd., a leading company in the wastewater industry. The transaction has been registered by the Court of Registry, the parties announced.
Founded in 2001 by professionals active in the field of environmental technologies, Inwatech Ltd. is one of the key players in the Hungarian wastewater and biogas market with several major reference works. The company, which employs approximately 40 people - mostly engineers - achieved a net revenue of HUF 3,2 billion in 2020 with a net operating profit of HUF 274 million. In addition to the treatment of municipal or mixed wastewaters, the company has significant activities in the field of industrial wastewater treatment for the food, pharmaceutical, chemical and mechanical industries. In the past decades, the company's specialists have played a key role in the design and implementation of dozens of wastewater treatment and biogas plants in Hungary and abroad.
Susterra Capital Partners launched the Water Impact Fund in 2020 as the first European water technology fund: the venture capital fund invests primarily in companies with innovative and scalable technology and business models in the fields of water, wastewater treatment, circular economy, smart city and digital water. The mission of the Fund is to create a measurable positive environmental impact through its portfolio companies in addition to the financial return.
"Based on the technical, financial and legal due diligence conducted in the recent months, we consider Inwatech Ltd that fits well into our portfolio, that is the reason we acquired 48 % share in the company" said Mr. Bence Tóth, the Chairman of the Board of Susterra Capital Partners. He added that as venture capitalists, they see their acquired stake as a long-term investment. Mr. Balázs Korintus, member of the fund management company’s Board said: the continuity in Inwatech Ltd is ensured by the founding owner Mr. Zsolt Eszes and the division heads Mr. Sándor Stock and Mr. László Mészáros as well, who also became minority owners in the company by the transaction.
Mr. Zsolt Eszes, the managing director of Inwatech Ltd said concerning the transaction that, the company will be able to further strengthen its position in the Hungarian and international municipal wastewater treatment, biogas production markets, while contributing to the introduction of new, innovative products and technologies with the acquisition by Water Impact Fund.
Susterra Capital Partners selects WaterScope Inc, as its flagship investment in water innovation.
Budapest, October 22, 2020
WaterScope, a Hungarian SME focused on the development of wireless data collection, sensor solutions and AI-based predictive modeling, has closed an investment agreement with Susterra for €600,000. WaterScope will use the funds to accelerate its international growth and plans to seek long term partnerships in global water hubs such as The Netherlands, the UAE, Singapore, and Japan.
"We are proud to have Water Impact Fund as our lead investor, and we commit to continuing the lineage of successful water innovation from Hungary. WaterScope is building a strong portfolio of Artificial Intelligence aided monitoring, ‘Sensors2Net’ systems. Its elements are individually operating units, linked to standard systems, which respond to challenges throughout the modern water industry at the highest technological level. These new funds give us further resources to develop Sensors2Net and offer it to the key water industry players on the world market” said Mr. Csaba Ilcsik, Chief Executive Officer and co-founder, WaterScope Inc.
"Susterra Capital Partners is pleased to invest into WaterScope Inc. a company with both significant growth potential and long-lasting, hands-on environmental & financial impact.” commented Mr. Bence Tóth, President of the Board of Susterra Capital Partners.
WaterScope provides solutions for urban and rural water clients: such as water management & treatment companies, municipalities, urban planners, aquaculture companies and environmental protection authorities as well as their associated partners throughout the water cycle.
WaterScope collects, collates and analyzes data within water facilities, networks and water bodies on quality, quantity, pressure, energy consumption and many other factors. Data is collected by its Sensor2Net system, evaluated by customized unique algorithms, which then provide predictive information to clients. WaterScope solutions save time, energy, water and money by providing water management information on a consistent and usable basis, long before any crisis arises. An easy to use, truly essential ‘water dashboard’ for customers!
About Susterra Capital Partners – Water Impact Fund
Susterra's Water Impact Fund aims to transform the cleantech industry with evidence-based, cost effective and technologically-innovative interventions into the problems with the access, affordability and quality of water and sanitation services. Susterra invests in water-related businesses that have a clear SDG impact focus, and are ready to go cross-border with their proven products and/or services. Susterra evaluates financial returns/risk as well as social/environmental impact, when making investment decisions.