Founded by top water industry executives and backed by a syndicate of Silicon Valley investors, company is bringing to market next generation of technologies for low-cost clean drinking water without need for electricity, chemicals, or high pressure.
Sunnyvale, CA -- (SBWIRE) -- 02/21/2013 -- Liquidity Corporation, a water purification company that has been in stealth mode, announced that it is launching new technology products to purify drinking water. The company’s first generation product is expected to enter the market in the coming year.
For several years, the company has been quietly developing a portfolio of breakthrough technologies for purified water. The company’s investors include leading venture capital firms: GSR Ventures, Capricorn Investment Group, and T2 Venture Capital.
According to CEO Michael Hawes, “The scarcity of clean drinking water is one of the great challenges of the world. Experts say up to 45% of infant mortality cases in some regions can be attributed to contaminated water. 3.4 million people, mostly children, die annually from water-related diseases. There is tremendous demand for next-generation technologies that do not require electricity, chemicals, or high pressure, and which will cost households only a few pennies per day. We are excited and proud to bring this innovation to the world.”*
The company’s founding team is composed of some of the top figures in the industry, including: Dean Spatz, the father of industrial reverse osmosis who founded and was Chairman and CEO of Osmonics (acquired by General Electric); Mark Kachur, the former Chairman and CEO of CUNO, a market leader in microfiltration and residential filtration (acquired by 3M for $1.2 billion); and Michael Hawes, the former Vice President of the Worldwide Water Group of 3M and former General Manager of CUNO Pacific. An additional co-founder is Victor W. Hwang, an investor and entrepreneur at T2 Venture Capital, a firm that builds companies to commercialize new technologies from scientific research. The firm has also recruited Sylvie Chavanne, former technical head of Brita Americas, to lead its research division and John Friedl, a senior executive in manufacturing and process engineering, to lead its engineering division.
According to Mark Kachur, “Billions of people still lack dependable access to clean drinking water that does not contain dangerous bacteria and viruses. We have a once-in-a-generation opportunity to make a real difference in people’s lives.”
Dean Spatz echoed, “A water purifier that works without electricity, chemicals, and high pressure has been the Holy Grail of the water industry for decades. We believe the time is now to overcome this challenge.”
Victor W. Hwang added, “We are excited to bring together this Dream Team, perhaps the greatest startup team ever assembled in the water industry. Our executives, scientists, and investors are all motivated by a common vision: to make cleaner, cheaper drinking water more accessible to the world.”
In addition to members of the founding team, the company’s board also includes veteran Silicon Valley investors Kevin Fong (representing GSR) and Dipender Saluja (representing Capricorn).
About liquico.com
For more information about the company, which is based in Alameda, California, please contact Sandi Wong at swong(at)liquico(dot)com or +1-510-522-1735. Website address: http://www.liquico.com.
MEDIA CONTACT: Sandi Wong, Liquidity Corporation, swong@liquico.com. 510-522-1735.
Nadeem Butt, "Contaminated water blamed for 45pc infant mortality," Medical News (http://www.medicalnewspk.com/en/component/k2/item/312-contaminated-water-blamed-for-45pc-infant-mortality.html); World Health Organization, World Water Day Report (http://www.who.int/water_sanitation_health/takingcharge.html).