LG Chem Ltd acquires NanoH2O Inc reverse-osmosis membranes manufacturer

LG Chem acquires NanoH2O for $200 million

12:05 PM, 18th March 2014
LG Chem Ltd acquires NanoH2O Inc

SEOUL, KOREA: LG Chem Ltd has purchased NanoH2O Inc, a manufacturer of reverse-osmosis membranes that purify seawater to drinking quality while lowering the cost of desalination. The price of the transaction is $200 million. The acquisition is expected to close next month, said LG Chem in a statement. The acquisition of NanoH2O will boost the water-treatment filter business of LG Chem.

The purchase takes place amid record drought from California to southeast Asia and rising water-scarcity issues. NanoH2O, whose nanocomposite and polymer technologies improve energy-efficiency and power costs in water production, has been backed by investors including Khosla Ventures, Oak Investment Partners, BASF Venture Capital GmbH, Total Energy Ventures International and the China-focused fund Keytone Ventures.

 

© Bloomberg News

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