Heartland Closes $45 Million Investment Round by The Baupost Group
Heartland Water Technology, an industry leader in wastewater treatment solutions, announced today the completion of a $45 million investment round led by Boston-based investment firm The Baupost Group.
Heartland has been working at the intersection of water, renewable energy, and resource recovery since 2008, inventing innovative technologies to tackle some of the world's most difficult wastewater challenges. The Heartland team develops, constructs, and runs decentralised modular wastewater treatment systems.
Industrial businesses and municipalities face considerable increases in wastewater treatment costs and pressure to enhance their Environmental, Social, and Governance (ESG) profiles. When the regulatory requirements for existing and emerging contaminants rapidly evolve, companies and municipalities are searching for on-site treatment solutions to take trucks off the road, decrease environmental risk, and establish control of the wastewater treatment process.
Heartland CEO Earl Jones said: "Heartland exists to tackle the most challenging wastewater environmental problems. This is a singular time for the wastewater industry. With increasing water scarcity and climate change, we must view wastewater as a resource to recover and not a waste to be disposed of."
Heartland will be able to extend its technology offering and expedite its ambition to offer wastewater treatment as a service, thanks to Baupost's funding. Companies and municipalities will be able to implement complete wastewater treatment solutions by working with Heartland, increasing their ESG profile while reducing capital expenditure needs.
Tom Blumenthal, partner and head of private corporate investing, The Baupost Group, said: "Heartland brings to bear the technology, leadership, and track record needed to address some of today's most significant wastewater environmental problems while helping customers achieve their ESG goals cost-effectively. We are proud to be helping Heartland expand on the important work they have been doing for years."