CheckLight raises up to $3.5m from Whitewater

Water technology investment company Whitewater has confirmed a report by "Globes" from October 2007 that it is investing in water security start-up CheckLight Ltd.

Microbiologist Prof. Shimon Ulitzur of the Technion founded CheckLight, together with his daughter, Dr. Nirit Ulitzur, in 2001. The company’s technology uses light-emitting bacteria to identify pollutants in water in real time.

"Globes" reports that Whitewater's investment in CheckLight will be in made in stages. $1.75 million will be invested over the next 18 months, depending on milestones, the most important of which is the commercial launch of the company’s second-generation product. Whitewater has an option to double the investment to $3.5 million over three years, which will give it control of CheckLight.

According to the company, CheckLight's added value is its ability to warn about pollutants in real time, enabling preventative action to avoid unnecessary closing of water sources. Its technology is reportedly one of only eight recognized by the US Environmental Protection Agency (EPA).

Whitewater is managed by Chairman Ori Yogev and Co-Founder Hannah Gertler.

WATEC, CheckLight, WaterSheer

As the Israeli cleantech industry prepares for WATEC Israel 2007 -- the International Water Technologies and Environmental Control Exhibition and Conference -- "Globes" is reporting on two new devlopments in the water sector.

Whitewater Security, a subsidiary of the Whitewater Technology Group, is in advanced negotiations to invest $2.5 million in water security start-up CheckLight Ltd. Checklight, founded Shimon Ulitzur, a professor of microbiology at the Technion, has developed technology that uses light-emitting bacteria to identify pollutants in water in real time. Whitewater chairman Ori Yogev wants his company to be the global leader in water security in the next 3-5 years. (Full article)

WaterSheer Ltd., another water technology start-up, is reportedly in talks to bring in a strategic partner at a company value of $10-15 million. The company, which creates a range of water purification products that convert unsafe water into drinking water. Potential partners include an international company with global marketing operations primarily in third world countries, and international venture capital funds that specialize in consumer products.

For more information on WaterSheer and its products, see "Israeli system turns contaminated water into drinking water - instantly."