14 Nov Heilongjiang Interchina Water Treatment, Poten Environment and Aquaporin sign binding agreements for water treatment JV in China and major equity investment in Aquaporin
HEILONGJIANG INTERCHINA WATER TREATMENT, POTEN ENVIRONMENT AND AQUAPORIN SIGN BINDING AGREEMENTS FOR WATER TREATMENT JV IN CHINA AND MAJOR EQUITY INVESTMENT IN AQUAPORIN
Danish high-tech water technology company Aquaporin A/S today announced the signing of binding agreements to form a water treatment Joint Venture (JV) in China with two Chinese partners, Heilongjiang Interchina Water Treatment (Interchina) and Poten Environment (Poten), and major equity investment in Aquaporin by Interchina and Poten resulting in a 20.1 % ownership stake.
The JV will have total equity of USD 10m of which Poten Environment, a China-based, privately held environmental protection company, will invest USD 4.5m, Heilongjiang Interchina will invest USD 2m and Aquaporin, the Denmark-based water treatment company, the remaining USD 3.5m resulting in 45/20/35 % ownership of the JV, respectively.
Interchina and Poten will jointly invest USD 19.5m in a 20.1% stake in Aquaporin of which USD 10.75m will be used to purchase the new shares to be issued by Aquaporin, and the remaining 8.75m to buy a stake in Aquaporin from its majority shareholder, M. Goldschmidt Capital A/S.
The business objectives of the Joint Venture Company are to develop, commercialize, and promote biomimetic membrane technologies, to develop, commercialize, manufacture and sell biomimetic membrane products, water treatment/desalination systems and other applications utilizing biomimetic membranes focusing on the Chinese market
“We have been following Aquaporin closely over the last years”, says Zhu Yongjun, Chairman of the board of Interchina. – The new JV will build on Poten’s and Interchina’s expertise in water treatment and environmentally sustainable solutions, our proximity to the market along with Aquaporin’s world leading technology
Søren Bjørn Hansen, Chairman of the Board of Aquaporin A/S and COO and Partner in M. Goldschmidt Capital A/S, “Aquaporin A/S has been looking into viable models of expanding to the vast Chinese market. We have found the best possible setup with the strategic alliance with Interchina and Poten and further strengthened our collaboration and the global potential of Aquaporin’s cutting edge technology by sharing ownership with our Chinese partners.”
To Aquaporin A/S the new collaboration is a major milestone says Peter Holme Jensen, CEO of Aquaporin A/S, – The Chinese water market is ready for new technologies. Interchina and Poten immediately recognised our technology and its exceptional growth potential and this new alliance allows all parties to build on each other’s strength in bringing complete systems to the vast Chinese market.
Aquaporin’s Business Developer Yun Shi adds, “This tripartite cooperation with Interchina and Poten Environment is a perfect combination of capital, technology and market power. It has laid a solid foundation for the commercial success of our Aquaporin Inside™ technology.”
For further information:
CEO Peter Holme Jensen, Aquaporin A/S, phone +45 82 30 30 82.
About Heilongjiang Interchina Water Treatment
Heilongjiang Interchina Water Treatment is engaged in water supply and drainage, the provision of sewage treatment service and engineering consulting service, as well as the sale of related equipment. The company was founded on November 3, 1998 and is headquartered in Beijing, China.
About Poten Environment Group Co., Ltd.
Poten Environment Group Co., Ltd. provides integrated solutions for waste water treatment. The company was founded in 1995 and is based in Beijing, China.
About Aquaporin A/S
Aquaporin A/S, established in 2005, is a global cleantech company located in Copenhagen, Denmark. Aquaporin is dedicated to revolutionizing water purification by means of industrial biotech techniques and thinking. The main strategy is to develop the Aquaporin Inside™ technology capable of separating and purifying water from all other compounds
About M. Goldschmidt Capital A/S
M. Goldschmidt Capital was founded in 2007 as a subsidiary of the M. Goldschmidt Holding Group owned by Danish billionaire Mikael Goldschmidt. The company executes and manages the group’s direct investments in businesses in various areas.