LAT Water achieves strategic new investment from Earthworm.
LAT Water, the Berkshire-based wastewater treatment company, has signed a £5m investment agreement with Earthworm. The investment follows recent contract wins for LAT Water in China and the UK, and will finance the next stage of its expansion plans, developing as a global player in this high growth sector.
Earthworm only backs projects that have a positive social or environmental impact in the sectors of food, energy and waste sectors. Members of the Earthworm community contribute to a circular economy, sharing expertise and best practice to support each other and achieve the best return for investors.
LAT Water’s mission is to deliver sustainable solutions to the water crisis facing the planet. It has developed proprietary, cutting-edge, low-cost green solutions for the treatment of industrial wastewater. The Water Machine is a desalination or wastewater treatment facility powered by renewable energy or low-grade waste heat. This provides fresh water at a lower cost than any existing technology, as well as with a low carbon footprint.
LAT Water CEO, Mark Hardiman, commented: “This is a truly transformational development for LAT Water and we are excited that Earthworm has shown the confidence in our company and technology. The investment allows us rapidly to expand the business to deliver water treatment solutions in the UK and the rest of the world. At the same time the partnership also allows us to draw on the market leading environmental expertise of Earthworm. We are looking forward to a long and fruitful partnership.”
Will Brocklebank, Head of Projects and Partnerships at Earthworm will take a seat on the LAT Water board. He commented: “We see a tremendous opportunity in the wastewater treatment sector. At the moment landfill leachate is tankered around the country for processing which is a good example of the treatment of one pollutant causing an increase in others. LAT Water’s technologies treat leachate on site which fits well with our broad aim to process waste near its source, and to create value and reduce environmental damage in doing so. We’re delighted they’re joining our community.”