SAN ANTONIO, Nov. 8, 2011 (GLOBE NEWSWIRE) -- VRTX Technologies, a technology company providing chemical-free water treatment for cooling towers and evaporative condensers, has received a strategic investment by Liberation Capital, a private equity fund specializing in project finance for renewable energy, water and wastewater solutions.
The investment from Liberation Capital will enable VRTX to accelerate expansion of its global footprint and research and development, as well as equipment financing for both new and retrofit VRTX Full Service Agreements (FSAs.) The VRTX FSA provides turnkey installation of the VRTX solution to customers with no upfront capital cost, and a low monthly fee over the life of the agreement.
"For 15 years VRTX technology has proven that chemical-free water treatment for cooling towers and chillers is effective, economical and good for the environment. Our Full Service Agreement has been well-received in the marketplace, and we are excited to have the financial capability to deliver a service-based approach to water treatment for the commercial and institutional markets," saidDavid Nicholas,VRTX TechnologiesCEO. "Liberation Capital's confidence and investment will supply the capital needed to deliver VRTX systems at an accelerated pace to help customers save money and meet their sustainable water treatment demands in those markets."
The heart of the VRTX solution is its patented Advanced Cavitation Reactor, which utilizes the principle of controlled hydrodynamic cavitation to prevent scaling and biological fouling without the need for specialty chemical additions.
Liberation Capital is a private equity firm founded by Water Industry veteran Jeff Garwood, formerly the President and CEO of GE Water & Process Technologies, a $2.5 billion global infrastructure business.
"Chemical-free water treatment for the cooling industry makes good business sense," said Garwood. "The technology is proven to be effective at controlling scale and biological fouling; it's economical and smart for the environment. The VRTX solution is a win any way you look at it. We are also excited about applications for the technology outside of cooling."
ABOUT LIBERATION CAPITAL
Liberation Capital is a private equity fund specializing in project finance for renewable Energy, water and wastewater solutions. Liberation Capital's investment focus includes infrastructure projects which turn waste products into constituents of value.
ABOUT VRTX TECHNOLOGIES
VRTX Technologies specializes in environmentally-friendly chemical free treatment of water used in nearly 1,000 cooling towers and evaporative condensers. The VRTX system relies on kinetic energy and hydrodynamic cavitation, to control scale, corrosion, and bio-fouling without the hazards of chemical treatment. VRTX also minimizes corrosion and microbiological growth, reduces system operating costs, and conserves water and energy.
For more information on VRTX Technologies, please visit www.vrtxtech.com
Contact: Molly Bragg, Media Relations
Office: (210) 651-7402
E-Mail: mbragg@vrtxtech.com
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