Early Stage Companies: Aquafortus

What have been the key highlights for Aquafortus over the past year?

Jessica Lam, Chief Operating Officer, Aquafortus Technologies Ltd

Aquafortus was accepted into the prestigious San Francisco-based accelerator program, ImagineH20, late last year. These companies have exceptional success rates, representing 30% of early stage water investments in 2018. Out of 255 water start-ups from around the world, Aquafortus was one of 13 selected. The selection was made by a judging panel of 30 world-leading water experts, including Suez, the giant multinational; SKion, the investment company of German entrepreneur Susanne Klatten; and Emerald Technology Ventures, one of the five major water VCs. Aquafortus won the runner-up award amongst the strong cohort of international technology companies during the Imagineh2O Water Innovation Week Conference.

Aquafortus has moved into a larger facility which is five times larger than its previous facility. This is to enable Aquafortus to scale up faster by building pilot plants for customers but also to accommodate a growing team of chemists, engineers and sales people.

Aquafortus has manufactured and shipped its first commercial shipment of patented materials, the Absorbent and Regenerant, at a total of 6,000 litres. This produced revenue of USD 60,000.

Construction on Aquafortus’ oil and gas pilot plant in New Mexico, US, has been completed. The charging with Aquafortus’ patented materials and running of actual oil and gas produced water through it will begin in October.

How many funding rounds have you had in that time, and where has the funding come from?

Three. From existing shareholders, high net worth individuals and most notably, K1W1.

Have staff numbers increased over the past year? In what ways has this impacted on how the team operates?

We have just completed a large recruitment drive recently, effectively doubling the team. It’s provided more capacity for the team and allowed them to specialise and focus on key areas.

Have you increased your number of offices over the past year? Where are your new offices?

Yes, we’ve moved into a larger facility in Mangere, Auckland (the former Rocket Lab facility).

What is Aquafortus' focus for the next 12 months?

Continue progressing and securing a second or third licensee in either Europe or the US in other applications. Begin building pilot plants as a sales tool and to speed up licensee deployment of the technology.

What has been the biggest challenge you’ve faced over the past year and how did you overcome it?

Delays from our licensee in constructing and commissioning the pilot plant. Aquafortus sent over two of its engineers to support the construction, commissioning and testing.