CALGARY, ALBERTA--(Marketwired - June 9, 2014) - Mr. Larry Novachis, Chief Executive Officer at FilterBoxx Water & Environmental Corp. ("FilterBoxx" or "the Corporation") announces the close of a $14.7 million dollar private equity raise with a second tranche to follow.
This financing represents the largest private equity raise for the Company. Mr. Novachis stated, "With this additional capital and the rapidly growing water and wastewater treatment industry, FilterBoxx is uniquely positioned to expand into new and emerging markets and continue to be the leading solution-provider in Alberta. The Company is ready to take things to the next level." FilterBoxx has kicked off a capital build program that will result in a significant expansion to its' already market leading rental fleet with both Camp and Process water assets.
The lead investor for the round is a family office headquartered out of Switzerland with expertise in technology, energy and natural resources. The round also included additional investments from current investors; XPV Capital Corporation and EnerTech Capital. "We are proud to be backed by our new investors and are thankful for the continued support from our existing investors; XPV Capital & EnerTech Capital," comments Mr. Novachis.
The lead investor will join the Board of Directors and will add tremendous value to the team going forward, "We are thrilled to be part of the Company, FilterBoxx has the proven expertise, people and products to really advance within the market place," they commented.
About FilterBoxx Water & Environmental
FilterBoxx Water & Environmental Corp. operates subsidiaries as FilterBoxx Packaged Water Solutions and FilterBoxx Energy Services. Packaged Water Solutions is solutions based supplier of standard and custom water and wastewater treatment systems. FilterBoxx Energy Services provides Rental Equipment, Services and Plant Operations to our rental fleet of water and wastewater treatment systems. Energy Services also supports our Design-Build-Own-Operate (DBOO) plants operating throughout Canada and the USA.
About XPV Capital Corporation
XPV Capital Corporation is a Toronto-based investment firm focused on "Making a Difference in Water." By combining proven water entrepreneurs with seasoned investment professionals, XPV is a true value-added financial partner for both investors and companies aiming to capitalize on the sweeping transformation taking place in the global water industry. For more information visit http://www.xpvcapital.com.
About EnerTech Capital
EnerTech Capital is a private investment firm focused on innovation in the energy and power industries: early to mid-stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $550 million and has delivered 32 exits. EnerTech Capital is currently investing out of its fourth fund and has offices in Philadelphia, Toronto, Montreal, Calgary and Menlo Park.
FOR FURTHER INFORMATION PLEASE CONTACT:
FilterBoxx Water & Environmental Corp.Larry Novachis
Chief Executive Officer
FilterBoxx Water & Environmental Corp.Krystal Binder
Source: FilterBoxx Water & Environmental Corp.