Fladgate acts for Bluewater Bio on £4m fund raising

Our team: David Robinson

Fladgate LLP has acted for Bluewater Bio International (Bluewater Bio), a global specialist in the treatment of wastewater, on the raising of £4m from new and existing investors.

Ecofin Water & Power Opportunities Plc (Ecofin), a utilities, energy and environmental firm, has invested £2m in Bluewater Bio by way of £2m subscription for secured loan notes, due in 2012. Bluewater Bio has also secured a further £2m from Aqua Resources Fund Limited (Aqua) on the same terms as Ecofin. Aqua is a close-ended investment scheme managed by FourWinds Capital Management Limited.

The funds raised will enable Bluewater Bio to consider strategic acquisitions and further accelerate the international roll out of its technology.

Fladgate corporate partner David Robinson advised Bluewater Bio on the transactions. Aqua was represented by Shepherd & Wedderburn LLP and Ecofiin was advised in-house.

Commenting on the deal David said: “We are pleased that Bluewater Bio has secured finance from two significant funds with industry expertise both of whom will greatly assist the company at this key stage of its development.”

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