(MENAFN- Khaleej Times)

Mubadala Investment Company, an Abu Dhabi-based global investor, along with Glenwood Private Equity, a leading Korea-based investment firm, and other co-investors on Wednesday announced the closing of their co-investment in NanoH2O Co. Ltd, formerly known as LG Water Solutions and a division of LG Chem, Ltd. All closing conditions and regulatory approvals have been met.

NanoH2O was established as a division of LG Chem in 2014 and became an independent company this year. Headquartered in Seoul, Korea, the company is a leading global provider of reverse osmosis membranes for desalination and the treatment of brackish water, widely recognized as the most energy-efficient method for large-scale desalination compared to thermal processes. With over 95 per cent of its revenue generated outside Korea, the company serves a diverse range of municipal and industrial customers worldwide, addressing the growing global demand for clean water.

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“Our investment in NanoH2O reflects Glenwood's strong conviction in identifying and partnering with high-quality businesses that are considered non-core or less core within their respective conglomerates through corporate carve-outs,” said Sangho Lee, CEO of Glenwood PE.“We remain deeply committed to supporting NanoH2O in advancing sustainable solutions to global water challenges and accelerating the Company's growth and global impact together with our investment partners, including Mubadala.”

“We have strong conviction in NanoH2O's technology leadership and long-term growth potential. This investment aligns with our strategy to partner with companies advancing solutions to global challenges and reinforces our long-standing commitment to South Korea and the broader Asian market,” said Mohamed Albadr, Head of Asia at Mubadala.“In partnership with Glenwood PE, we look forward to supporting NanoH2O's international growth and reaffirming its position as a global leader.”

Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala, added:“Water security and decarbonisation are converging as global priorities, and reverse osmosis membranes are essential to delivering water at scale with lower energy intensity. NanoH2O stands out for its proven technology, global footprint and a replacement driven business model that rewards continuous innovation. Our investment will support NanoH2O in connecting with growing demand in the Mena region and other key markets globally, and we look forward to contributing to the Company's expansion and long-term sustainable value creation.”

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