MIOX Corporation - Johnson Matthey`s Water Technologies

MIOX Corp. Set to Expand with Investment from Venture Capital Firm

Albuquerque, NM – MIOX Corporation announced today that it has raised $14.5 million in capital to accelerate its growth into emerging markets. MIOX currently sells products to purify water for public water treatment systems. It has also successfully developed products and technology for a variety of other applications, including personalized handheld water purification, industrial water, marine, military, and pool and spa applications. MIOX products are cost effective, safe, and a more environmentally sound alternative to the dangerous and harsh chemicals typically used to treat water for these applications.

“Customers have pulled MIOX technology into a number of new applications and exciting opportunities,” said Carlos Perea, president and CEO of MIOX Corporation. “With the financial backing of our investors, we can now properly address and develop these fast growing markets. Moreover, we can continue to grow our international markets where there is a rapidly growing demand to treat water in a safe and environmentally sustainable manner.”

The round was led by Sierra Ventures with participation from Nick Pritzker via Tao Capital and New Mexico Community Capital. Also participating were the major existing investors including Flywheel Ventures. Sierra Ventures is a top tier venture capital firm with investments in the United States, China, Canada, and India. Sierra is known for its operational expertise and ability to work with entrepreneurs and management teams to build companies into large, profitable businesses.

“Sierra invests in world-changing ideas. We’ve been interested in making an investment in the Clean Tech space for some time,” said Jeff Loomans, a partner at Sierra. “One reason Water Technology is attractive is that water is one of the largest markets in the world with a significant growth rate. It wasn’t until we found MIOX that we found a company that meets our investment criteria.”

“We are excited about the new investment in MIOX,” said Trevor Loy, managing partner at Flywheel. “MIOX is an excellent example of a company applying technology to address a major market opportunity and, at the same time, address a major social and environmental issue. Today, one of five people in the world still do not have access to safe, clean water, resulting in major costs to society. MIOX is a distributed architecture and will allow end users to treat their water at the point of use. This is a cost-effective approach that many parts of the developing world are embracing.”

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