Zero Mass Water, Inc., a Scottsdale, Ariz.-based company making drinking water a renewable resource through hydropanels, raised $50m in Series C1 equity financing.
The round was led by funds managed by BlackRock led its with participation from Duke Energy, Breakthrough Energy Ventures and Material Impact Fund.
The company plans to use the funds to scale global installations of its hydropanels and launch direct-to-consumer initiatives, including residential panel installations beyond North America, and accelerate innovation and advanced renewable water technologies.
Led by Cody Friesen, founder and CEO, Zero Mass Water provides hydropanels that create drinking water from sunlight and air, which is made possible by the combination of thermodynamics, materials science, and controls technology. It makes applications for industrial, commercial, residential and community applications and is already installed in 45 countries.