Agreement Provides Access to Technology for More Sustainable and Lower
Cost Water Filtration Solutions
LONDON--(BUSINESS WIRE)--
Pentair plc (NYSE:PNR), a leading water treatment company, announced
today that it has closed a minority investment in Aqua Membranes. The
patented 3D printed spacer technology of Aqua Membranes enables
performance improvement in spiral wound elements used in reverse osmosis
(“RO”) membrane applications, including residential and commercial water
filtration.
“Aqua Membranes’ strong portfolio of intellectual property and its
developmental track record, combined with Pentair’s technical expertise
in water treatment technologies, will allow us to expand our customer
offerings in the residential and commercial water treatment arena,” said
Phil Rolchigo, Pentair Executive Vice President and Chief Technology
Officer. “This investment aligns with our innovation roadmap and has the
potential to provide our customers with more sustainable and lower cost
water treatment solutions.”
Aqua Membranes has developed a patented process to print dimensional
polymer shapes directly on flat sheet RO membrane, which replaces
conventional feed mesh. The printed spacer material is fully
customizable by application and market and has the potential to lower
cost and reduce waste of water resources. This technology creates new
possibilities for the spiral wound element market, which has remained
largely unchanged for the last several decades.
“We are very excited to have Pentair lead our Series A investment
round,” said Craig Beckman, Chief Executive Officer of Aqua Membranes.
“Pentair’s technology is a leader when it comes to minimizing water
waste from home RO systems. This collaboration will enable us to
commercialize and further improve the efficiency of this technology that
can protect families from contaminated water with a more sustainable
product. It’s only the beginning of our potential to develop even more
cutting edge products together in the future.”
ABOUT PENTAIR PLC
At Pentair, we believe the health of our world depends on reliable
access to clean water. We deliver a comprehensive range of smart,
sustainable water solutions to homes, business and industry around the
world. Our industry leading and proven portfolio of solutions enables
our customers to access clean, safe water. Whether it’s improving,
moving or enjoying water, we help manage the world’s most precious
resource. Smart, Sustainable Water Solutions. For Life.
Pentair had revenue in 2018 of $3 billion, and trades under the ticker
symbol PNR. With approximately 130 locations in 34 countries and 10,000
employees, we believe that the future of water depends on us. To learn
more, visit Pentair.com.
ABOUT AQUA MEMBRANES
Founded in 2011, Aqua Membranes is revolutionizing RO membrane
filtration with its unique printed spacer technology. Polymer is applied
directly to flat sheet membrane to create a customized raised pattern
that replaces conventional extruded mesh feed spacers. Unlike
traditional membrane spacers that trap particles and biofilm within the
spacer mesh and thereby obstruct flow, the printed dimensional spacers
optimize flow patterns and turbulence throughout the membrane element,
minimizing the entrapment of particulates and organic fouling. Printed
spacer technology also increases permeate flow, improves flux and
recovery, minimizes system pressure drop and extends the operational
life of a membrane element.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that we believe to be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements made about the equity investment,
including the anticipated benefits of the equity investment, are
forward-looking statements subject to risks and uncertainties, such as
the failure of markets to accept new product introductions and
enhancements, as well as other risk factors contained in our filings
with the Securities and Exchange Commission, including our Annual Report
on Form 10-K for the year ended December 31, 2017. All forward-looking
statements speak only as of the date of this release. Pentair plc
assumes no obligation, and disclaims any obligation, to update the
information contained in this release.
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Pentair Contacts:
Jim Lucas
Senior Vice President,
Investor Relations and Treasurer
Tel: 763-656-5575
Email: jim.lucas@pentair.com
Rebecca Osborn
Senior Manager, External Communications
Tel:
763-656-5589
Email: rebecca.osborn@pentair.com
Source: Pentair plc