Investors included Harris & Harris Group, Prudence Holdings and Pike Capital Partners. In addition, ZAGG, a provider of innovative consumer products like films, skins, audio and power solutions that protect, personalize, and enhance the mobile experience, acquired the remaining interest in HzO still held by Northwest Maritime Institute (NMI), allowing the new HzO investors and ZAGG to own 100% of the company.
In November 2010, ZAGG had acquired from Northwest Maritime Institute (“NMI”) a majority stake in HzO with the vision of using the HzO technology to protect mobile electronics.
HzO intends to use the funds to launch global sales of its patent-pending technology.
Led by President and CEO Paul Clayson, the company owns patent-pending and trade secret technology (WaterBlock) that treats electronic circuitry and components to protect electronic devices and assemblies from moisture damage. Initial target markets include mobile and stationary consumer electronics and accessories for these devices, first responder devices, automotive applications, military devices and vehicles, consumer emergency response devices and solid state computing platforms.