Nexus eWater, Inc., an Australian developer of a practical water and energy recycler for homes, closed a $2.1m Series A funding.
The round was led by Thomas Reeves Hitchner, the retired general partner of Baltimore-based venture fund, QuestMark Partners, with participation from Canberra-based venture fund ANU Connect Ventures (ANUCV), the Sydney Angels and the Sydney SideCar Fund. As part of the transaction, Thomas Reeves Hitchner of Cambridge, Massachusetts, will join the company’s board of directors. Additionally, Mark C. Gauci will join as the board representative for ANUCV.
The company intends to use the funds to complete the initial product roll-out of its on-site water and energy recycling products for the California and US market.
Led by Mark P. Petroff, CEO, Nexus eWater provides a water and energy recycler that collects a home’s grey water (the drain water from showers and laundry) and cleans it for lawn watering and other approved uses. Additionally, the system captures and re-uses the heat found in the grey water for further recycling. The system is available for both new homes and for retrofits.
Customers include new home builders/developers, water districts, cities, energy utilities and existing homeowners.
The system was developed in Canberra, Australia by company co-founders: Andrew Hermann, Tom Wood and Craig Richmond.