Sept. 24 (Bloomberg) -- Wermuth Asset Management GmbH’s Green Gateway Fund is helping back Aquarius Water Group, a Swiss supplier of water systems for the oil and gas industry.
Green Gateway invested 6.5 million-euros ($8.8 million) in the Zug, Switzerland-based company, Wermuth said today in an e- mailed statement. Aquarius makes technologies and systems to handle water and wastewater such as cooling supplies or seawater for injection as well as industrial wastewater, according to Mainz, Germany-based Wermuth.
As nations seek to boost oil output from unconventional sources such as oil sands and gas from shale deposits to curb imports, demand for technologies that efficiently treat or use water required in their operations is increasing. Green Gateway, with 110 million euros in commitments and a 250 million-euro target, invests in energy and resource-efficiency companies, according to the statement.
--Editors: Randall Hackley, Reed Landberg