Altum teams up with WaterStart in Las Vegas
Altum Technologies will expand to the US to collaborate with WaterStart following a successful funding round led by Maki.vc and Lifeline Ventures.
Finnish cleantech company Altum has raised new funding from Maki.vc and Lifeline Ventures to collaborate with the Las Vegas-based water innovation cluster WaterStart. Altum will help US companies to solve water management issues and remove industrial fouling with its focused power ultrasound technology, which is the first in the world to enable cleaning industrial equipment without chemicals or production stoppages.
“By investing in Altum Technologies, we wanted to back an industrial revolution in which there is no need to stop production because of fouling and this generates a lot of value,” concurs Ilkka Kivimäki, partner at Maki.vc. “Nowadays, a great amount of toxic chemicals are used to get rid of fouling; this contaminates our environment and affects each of us directly.”
Nowhere in the US are added-value and environmental concerns more important when it comes to water management than in Nevada – the driest state in the country. The WaterStart cluster is a joint venture between the academic, public and private sectors, focusing on the implementation of water innovation.
“Altum’s technology caught the attention of WaterStart because of its potential to improve the efficiency of cooling towers, a conservation target here in Southern Nevada,” explains Nate Allen, executive director of WaterStart. “As the first Finnish company in WaterStart’s growing international portfolio, we are enthusiastic about the future opportunities for Altum and furthering our relationship with Finland.”
The local cooling towers are the second largest cause of water waste in the state, a challenge that Altum is eagerly waiting to tackle, but the expansion may not stop there.
“WaterStart has provided us a market entry opportunity with a vast network of experts to help us solve big industrial issues,” views Matias Tainela, CEO of Altum Technologies. “By being physically in North America, we want to show our commitment to our clients and partners while giving the best of our service.”