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OceanWell, a water technology company, recently announced $11 million in Series A funding to expand its modular deep-sea water farm solution and launch a water farm pilot in California with the Las Virgenes Municipal Water District (LVMWD). The funding round included participation from Kubota Corporation, the family office of Jon Hemingway of Carrix Ports, and Charles McGarraugh, former head of metals trading at Goldman Sachs.
OceanWell’s deep-sea water farms use pods that harness natural hydrostatic pressure at depths of 400 meters for reverse osmosis desalination, producing up to one million gallons of fresh water daily. This technology reduces energy consumption by up to 40%, protects marine life, and eliminates toxic brine disposal, addressing the increasing global issue of clean water scarcity.
With the demand for clean water projected to outpace supply by 2050, OceanWell aims to provide affordable and abundant freshwater with its deep-sea pods. The company’s first water farm is being developed in California, where they have partnered with Las Virgenes Municipal Water District to supply fresh drinking water to a region recovering from drought.
Kubota Corporation, a century-old leader in water infrastructure manufacturing, has also increased its investment in advanced water technologies to combat water scarcity on a global scale. Both OceanWell and Kubota are committed to providing comprehensive water solutions to address the increasing demand for clean drinking water worldwide.
Robert Bergstrom, Founder and CEO of OceanWell, expressed gratitude to investors for their expertise, while Eiji Yoshioka, Director and GM of the Water and Environment Infrastructure Consolidated Division of Kubota, highlighted the importance of OceanWell’s technology in providing a stable supply of potable water to water utilities in water-scarce regions.
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Photo credit pulse2.com
