Dealflow | May 18, 2023

Gradiant raises $225 million, becoming a billion-dollar player in water management

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, May 18 – Boston-based Gradiant makes water-treatment systems for companies in essential industries, including many supporting the low-carbon transition, like minerals and renewable energy firms. Its systems conserve water and recycle wastewater and help companies identify ways to cut water usage.

The company counts semiconductor maker Micron, mining company Rio Tinto, and Coca-Cola among its clients.

Gradiant has raised $225 million in Series D financing from BoltRock Holdings and Centaurus Capital. The deal values the company at more than $1 billion.

Industrial sectors demand an increasing volume of water even though it’s “increasingly rare and finite,” said John Arnold of Centaurus Capital, which backed Gradiant to support industry “demands in an economic and energy-efficient manner.”

Gradiant plans to expand to the water-scarce Middle East.