Albuquerque-based MIOX Corporation began life in 1994 as a largely domestic play. Employing a cost-effective technology that creates potable water from three simple ingredients—water, salt, and electricity—the start-up manufactured on-site water disinfectant generators for the military with the support of a SBIR/ STTR grant from the Navy.
Today MIOX has grown to be New Mexico’s largest venturebacked firm by value, with its technology treating more than 6.5 billion gallons of water per day in over 30 countries, and its growth is increasingly a story of exports. Until 2005 exports accounted for less than 20 percent of company sales. Since then, however, a new management team has more than doubled its workforce to 65 people and substantially expanded its foreign business, in part by securing a more strategic international distributor and targeting new markets around the world.
This year the firm both sold water purification systems to the poor Mexican state of Chiapas and saw its water treatment systems installed in the swimming pools of Macau’s City of Dreams, an ultraluxurious resort. Currently the company is busy setting up offi ces in Mexico and Asia to expand its foreign trade. The upshot: In 2010 CEO Carlos Perea expects exports to account for nearly 50 percent of the company’s sales on the back of 100 percent year-on-year revenue growth.