Bioindustrial Innovation Canada and GreenCentre Canada announce private investment in Forward Water Technologies
SARNIA, MISSISSAUGA & KINGSTON, ONT - Bioindustrial Innovation Canada (BIC), Forward Water Technologies (FWT) and GreenCentre Canada (GCC) are thrilled to jointly announce a private investment into Forward Water Technologies supporting the commercial scale-up of a proprietary forward osmosis technology that holds the potential to alleviate the increasing global demand for fresh water, and substantially reduce waste water treatment and disposal costs.
BIC is a not-for-profit organization based in Sarnia, Ontario. Its goal is to help Ontario and Canada become globally recognized leaders in the field of sustainable technologies. In 2016, BIC established the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) initiative program, which acts as a hub for the commercialization of sustainable chemistry and bio-based innovation. COMM SCI supports BIC’s mission to provide critical strategic investment, advice and services to business developers of clean, green and sustainable technologies.
BIC’s COMM SCI investment was made in partnership with a mission-driven family office from the Toronto area, involved in developing and advancing novel technologies in CleanTech among other sectors.
The initial technology behind Forward Water Technologies originated from the laboratory of Professor Philip Jessop at Queen’s University and was further developed and launched as a spin-off company by GreenCentre Canada in 2012. This proprietary forward osmosis system is a highly energy efficient process that has been successfully demonstrated for the treatment of many challenging high total dissolved solids wastewater streams that return fresh water for re-use in operations or discharge to either sewer or surface systems. FWT has been engaged in the commercial development of this technology and has brought it from the lab to almost commercial readiness. This investment not only unlocks a substantial non-dilutive government-based funding opportunity previously announced, but poises Forward Water Technologies for its ultimate goal of commercial success.
“Forward Water Technologies welcomes this new and enabling investment,” said C. Howie Honeyman, Chief Executive Officer of FWT. “We are on the brink of a critical phase in the long path to commercialization and to garner support from organizations such as BIC and partners that continually make meaningful contributions, in addition to their funding, is extremely critical.”
“Our investment in Forward Water Technologies reinforces our mission of investing in Ontario companies with novel technologies that contribute to a clean, green and sustainable future,” said Sandy Marshall, Executive Director of BIC.
“This investment in Forward Water Technologies is a significant success for GreenCentre Canada, moving FWT from an academic in-licensed technology to a spin-off company in accelerator phase into an independent company poised for commercial success” said Lynne Manuel, Executive Director of GreenCentre Canada. “We are extremely proud of Forward Water and are truly excited about its future.”
About Bioindustrial Innovation Canada: Bioindustrial Innovation Canada (BIC) is a nationally focused not-for-profit organization based in Sarnia, Ontario. The Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) acts as a hub for the commercialization of sustainable chemistry and bio-based innovation, providing businesses and technical support to participating small- and medium-sized enterprises (SMEs) in southern Ontario. COMM SCI was established with support from the Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario) Investing in Regional Diversification initiative and additional support from the Government of Ontario Ministry of Research, Innovation and Science. BIC creates jobs and economic value sustainably for Canada. We provide critical strategic investment, advice and services to business developers of clean, green and sustainable technologies. Our expertise in commercialization builds a stronger Canada. Visit www.bincanada.ca for more information.
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About Forward Water Technologies: Forward Water Technologies, a GreenCentre Canada spin-off company, is revolutionizing fresh water production through an inexpensive, low-energy desalination and demineralization approach that uses switchable salt to purify water. This technology will allow for the economical treatment of highly saline and mineralized water that cannot be treated effectively today, including difficult-to-treat wastewater in the resource sector while providing a fresh-water stream that can be recycled into operations, leading to both a reduction in total water costs and environmental footprint. Visit www.forwardwater.com for more information.
Media Contact: Howie Honeyman, CEO, firstname.lastname@example.org
About GreenCentre Canada: GreenCentre provides an extensive and practical range of laboratory and commercial services to support the development of chemistry-driven activities in Canada. Specifically, GreenCentre offers sector-focused chemistry technology development, business development, and commercial services. We serve the research needs of academics, entrepreneurs, and established companies by adding value across the entire development chain, through our two facilities in Kingston and Mississauga, Ontario. GreenCentre’s head office is located at Innovation Park in Kingston. Visit www.greencentrecanada.com for more information.
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