GRADIANT SECURES OVER US$100 MILLION IN SERIES C FUNDING

KUALA LUMPUR, Nov 22 (Bernama) -- Gradiant, a leading global end-to-end cleantech water treatment solutions provider and projects developer, announced it has raised over US$100 million in Series C funding. (US$1 = RM4.187)

The round was led by financial and strategic partners Warburg Pincus and Schlumberger New Energy and was oversubscribed from its initial target of US$65 million. The round brings Gradiant’s total funding to date to over US$200 million since inception.

Gradiant develops and delivers advanced water and wastewater treatment facilities worldwide, with primary focus in the rapidly growing Asia Pacific region for global brand owners and manufacturers with mission-critical needs in cleantech water and sustainable operations.

The funding will enable Gradiant to further expand into strategic markets and industries; finance the equity contribution into new project assets; accelerate the deployment of Gradiant’s innovation and technology offerings; and strategically acquire complementary and synergistic companies in cleantech water and sustainability.

According to a statement, the company plans to grow its business in key sectors such as food and beverage, microelectronics, pharmaceuticals, and mining, from its already established geographies in the Asia Pacific, the United States, and the Middle East.

Gradiant has experienced tremendous growth, with 2021 revenue expected to triple versus the prior year and the near-term financial forecast expected to continue to expand at an accelerated pace through its growing backlog of design-build (DB) and design-build-own-operate-manage (DBOOM) contracts.

Recent strategic acquisitions of Sigma Water (Malaysia) and CRS Water (Australia) have created opportunities to access new customers, applications, and geographies when coupled with Gradiant’s clean water technologies and project development and financing capabilities.

Gradiant’s recent growth is driven by significant project wins in Asia Pacific, where the region’s rapid industrialisation and population growth have been driving the demand for clean water and sustainable technologies.

More details at www.gradiant.com.

-- BERNAMA