AMERICAS WATER IN BRIEF

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Colorado-based Joshua Water Technology has raised $2 million of fresh equity from investors including the Impact Opportunities Fund to fund its near-term expansion plans.

  • Joshua’s main operating division, Genesis Water, supplies highspeed dewatering solutions for dredging and mining operations, and expects to generate revenues of around $25 million over the next twelve months. Joshua is now working with Veolia to introduce its technology into mining operations in North America.
  • Seven Seas Water CEO Doug Brown has handed on the baton to Air Products veteran Bob Dixon after five years at the helm of the Caribbean desalination plant developer. Brown will remain as chairman of the board.
  • Former SouthWest Water COO David Stanton, meanwhile, has resurfaced as the president of United Water’s regulated business.
  • Desalination plant developer IDE Technologies has appointed Orlando Carreño as regional director of business development for its Latin American operations. Carreño joins from Aquatech International, where he held a similar position.
  • Aqua America has offered to sell its Florida operations to the Florida Governmental Utility Authority (FGUA) for a discounted sale price of $95 million.
  • Meanwhile, Aqua continues to build its presence in its core north-eastern franchise, snapping up the wastewater system assets of Kidder Township in Pennsylvania for $11.3 million. Aqua has operated the system since 2006.
  • Standard & Poor’s raised its corporate credit rating on Pall Corp. from ‘BBB’ to ‘BBB+’ earlier his month. “We believe Pall has capacity for debt-funded acquisitions of about $500 million,” commented analyst Dan Picciotto.
  • Rockwater Energy Solutions has acquired MWS, a Colorado-based provider of mobile water storage tanks to the oilfeld industry in North America. Rockwater was formed last year through a four-way merger of fluids management, chemical and logistics services companies.