Altela Inc., an Albuquerque-based provider of desalination technology and services, has raised $7.1 million in Series A funding. CCS Income Trust, a Canadian environmental and energy services company, led the deal.
PRESS RELEASE
Altela, Inc., a leading desalination technology and service company, recently completed the closing of its Series A investment raising $7.1 million. The investment will be used to expand the company's manufacturing plant and accelerate the introduction of its water-remediation products into new markets. $5.2 million was invested by a Canadian environmental and energy services company, CCS Income Trust, and $1.9 million was invested by existing Altela shareholders. Altela's Board of Directors and management believe that CCS is a strong new strategic partner for Altela, and will provide deep domain experience and significant new markets for the company's AltelaRain(SM) products. The $7.1 million investment values the two-and-a-half-year-old
CCS Income Trust is a leading environmental and energy services firm headquartered in
“We are excited about our new partnership with CCS,” said Ned Godshall, CEO of Altela. “
About CCS Income Trust (http://www.ccsincometrust.com)
CCS Income Trust is a dynamic environmental services company based in
About Altela, Inc. (http://www.altelainc.com)
Altela has developed a fundamentally new water desalination product, the AltelaRain(SM) system, that inexpensively removes 100 percent of the dissolved salts and other contaminants from highly challenged industrial waste waters and undrinkable brackish waters found throughout the world — representing the first new low-cost water desalination technology in the last 50 years. The company has assembled a strong intellectual property position and experienced management team and Board of Directors. By removing all contaminants from wastewater and brackish water on-site, Altela converts contaminated water liabilities into clean water assets, thereby solving our customer's environmental liability and high treatment/disposal costs.
Altela turns waste into water.
Contact: Shelley Barratt, (505) 923-4142
Website: http://www.altelainc.com/
Website: http://www.ccsincometrust.com/