Whitewater raises $7.1m from Leon Recanati

Whitewater, a water technology investment company owned by Ori Yogev and Hana Gertler, announced today that it will raise NIS 24m ($7.1m) from Gmul Investment Co. Gmul is controlled by Leon Recanati, a leading Israeli investor.

The investment is for 18.2% of Whitewater, at a company value of NIS 108 million ($40 million).

The money to be invested in Whitewater will be used to further the company's strategy to increase its holdings in a number of its Israeli subsidiaries: Galcon, which specializes in computerized irrigation systems; Checklight, which specializes in real-time water quality monitoring; and Whitewater Well, which specializes in water-drilling technology.

Whitewater also intends to invest in water technology companies in North America and Europe with significant growth potential.

Commenting on the investment, Ori Yogev told "Globes" that "Gmul has an asset that we're very interested in: a stake in the Nahariya sewage treatment plant, which is a very modern facility. It's very important for us to be able to use this facility as beta site for our sewage treatment technologies. This part of the deal isn't final, however."

As part of the deal, Whitewater has undertaken to acquire 23% of TGA Western Galilee Infrastructures LP, in which Gmul owns 44.9%, for NIS 10 million. TGA owns the Nahariya sewage treatment plant.

Yogev notes, "The growing global water crisis has generated unprecedented demand for innovative Israeli water technologies. The present investment will speed up the company's penetration into the North American and European markets, and will enable us to exploit potential opportunities in the global water technology market."

Gmul Investment's Chairman, Moddi Keret, said: "The water technology field is benefiting presently from huge investments, and is expected to become one of the growth forces in the world's economy."

CheckLight receives urgent Chinese order following earthquake

"Globes" reports that the Chinese State Environmental Protection Agency has placed an urgent order for drinking water pollution testing kits with CheckLight Ltd., a subsidiary of Whitewater Technology Group. The Chinese will use the kits to detect the presence of possible toxins in drinking water sources in earthquake-ravaged Szechuan Province. The quake also damaged chemicals factories. The kits will be flown by special delivery this week.

Several weeks ago, CheckLight announced that it had received an order for 36 kits from the Chinese government. The Chinese placed an additional urgent order for immediate delivery following the earthquake. The kits will help in the rehabilitation of the quake-hit areas and prevent a worse humanitarian catastrophe by identifying contaminated water sources and directing people to safe sources. CheckLight is reportedly reorganizing for the delivery and postponing other orders.

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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."