U.S. Sustainable Water Tech Start-up Raises Record $10.25 M
Green Energy Startup Ossus Raises Pre-Series A Round Worth $2.4 Mn
Genesis Systems, a US-based manufacturer sustainable air to water systems, claims to have broken early fund-raising records in the water technology industry with its recent oversubscribed Seed Series. The company raised $10.25 Million in order to bring about rapid advancement and revenue growth in key water products and services in global markets.
The round was led by Venture Capitalist and Co-founder of X-PRIZE India and Co-founder of X-PRIZE Water Abundance Prize, Paresh Ghelani; and institutional investors Southland Holdings, a U.S. construction syndicate and owner of American Bridge Company, Johnson Bros. Corporation, and Mole; the owners of 1911 Ventures, the nation’s oldest continuously operating venture fund; and Venture Capitalists and Entrepreneurs; Jordan Noone, Co-Founder of Embed Ventures and former CTO & Co-founder of Relativity Space; and Dr. Ned Allen, Sr. Fellow and Former Chief Scientist at Lockheed Martin.
According to the World Bank Group, water scarcity will negatively impact some national GDPs up to -18 percent. BlackRock forecasts domestic water scarcity will put 66% of 84,000 surveyed U.S. Real Estate Investment Trusts (REITs) at risk by 2030.
Ghelani said, “My partnership with Genesis is personal because as a child growing up without safe water, I know the importance of clean water. It’s commendable to see the rapid technological progress Genesis has made. It’s second to no other air to water tech in terms of efficiency and volume. This tech is something humanity must have for sustainable water supplies.”
Other notable participants in the round included Ambassador R. James Woolsey, 16th Director of Central Intelligence, and Mr. Phil Sumrall, former Apollo Program Engineer and Director of Advanced Programs at NASA, and Mr. Chad Hennings COO of Rubicon Representation, a former NFL player with three Superbowl Championship Rings.
In 2021, Genesis Systems debuted its WaterCube™: “a one-of-a-kind water generator that makes 1,000-2,000 gallons a day from air using nano-liquids.” WaterCube™ systems are the most efficient freshwater production systems on earth that scale-up. Genesis’ novel liquid-based technologies can generate mass water from the air at volumes between 100 gallons and 100 million gallons (306.7-acre feet) a day, claims the company. The breakthrough technology can operate at low humidity and in weather conditions that excel beyond all current approaches to atmospheric water generation, it adds.
Genesis Systems are designed to operate in the most arid regions on earth, including the Middle East and North Africa, as well water-scarce areas in the United States, Australia, and Europe.
The company states that the Seed Series allows it to open international markets, finalize the development of complementary water products and services, and increase commercialization staffing. Among its services, Genesis plans to provide is Water as a Service (WaaS) & water sale agreements to high-use customers (such as manufacturing and communities).
Genesis’ water technology may be powered by solar, wind, geothermal, or waste energy. The company plans to make carbon captures feature available on WaterCubes™ within 36 months.
