Tuesday, February 19, 2008

Wastewater treament co. UniqKleen raises additional funds from GES

"Globes" reports that water treatment technology company GES - Global Environmental Solutions Ltd., a subsidiary of Granite Hacarmel Investments, is set to increase its holding in UniqKleen Technologies Ltd., a start-up developing technologies for treating industrial effluent with magnets. GES will raise its stake in UniqKleen to more than 60% from 51%, at a value of several million dollars. GES VP of Marketing, Water & Wastewater and UniqKleen CEO Anat Halgoa confirmed the report but declined to comment on the size of GES's additional investment or the value at which it will be made.

UniqKleen was founded in 2002 within the framework of the Yozmot HaEmek incubator by a team of new immigrant scientists from Russia - Dr Edward Brook-Levinson, Dr. David Gurevich, and Dr. Yevgenia Dobrokhotov. They have remained shareholders in UniqKleen but GES has taken over the management of the company, which graduated from the incubator in 2006 and is located at GES's site in Akko.

GES is UniqKleen's largest investor, and it first acquired 30% of the company in January 2006 for a few hundred thousand dollars.