APATEQ closes € 5.8 million financing round

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Luxembourg cleantech company APATEQ announced today that it has closed a € 5.8 million financing round. The investor group, all from Luxembourg, was led by Mosmart International S.A., an investee company of Reinet Fund S.C.A. F.I.S., a closed-end specialised investment fund, together with Eurobéton S.A. and the company’s founders.  APATEQ will utilize the funds to further develop and commercialize its proprietary oil-water separation systems internationally

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Private investors funded the hardware-based cleantech company APATEQ since inception in 2013. The company developed several solutions in the field of oil-water separation and water & wastewater treatment and it is predominantly focusing on oil & gas customers in North America and Europe. In order to pursue its business plan and further develop the oil-water separation segment, APATEQ embarked upon a financing initiative amongst institutional investors that culminated in the closing of a € 5.8 million funding round, led by Luxembourg-based Mosmart International. Mosmart International has developed proprietary and natural solutions that enable rapid and on-site treatment of wastewater and waste gases.

“We have been following APATEQ’s development right from the outset and truly believe in the company’s value proposition and its exceptional management team,” said Mosmart’s CEO Christoffel van Wyk. “We are excited about their prospects in oil-water separation, as well as the treatment of produced and fracking water at conventional and unconventional oil & gas sites.”

APATEQ angel investor and majority shareholder of Eurobéton S.A., Robert Dennewald, comments: “We are delighted to welcome synergistic partner Mosmart International to the APATEQ shareholder circle. APATEQ’s management demonstrated exemplary entrepreneurial skills in the company’s start-up phase, evidenced by revenues within months of its creation, important international prizes and a rapidly expanding sales pipeline. The fact that APATEQ as a Luxembourg company was able to secure funding from an esteemed Luxembourg-based investor group makes us particularly proud and strengthens our success story ‘Made in Luxembourg’.”

“The funding enables us to accelerate the market penetration of our oil-water separation systems in North America,” states APATEQ CEO and co-founder Bogdan Serban. “Our compact, chemicals-free and cost-effective solutions address the most demanding market needs and the trials we have conducted in the US late in 2014 have strongly re-affirmed the competitiveness of our equipment even under the currently depressed and fluctuating oil price scenario.”

APATEQ plans to establish a subsidiary in North America around mid 2015 to directly market “OilPaq”, its containerised, on-site oil-water separation system. In addition to the current sales model, a lease/rent option is envisaged.

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