HydroGlobe secures $1.1 million in new financing with help of Stevens Technologies

HydroGlobe Inc., a Stevens Institute of Technology Technogenesis® company, announced today that it has closed a Series A equity transaction in which the company raised $1.1 million with the assistance of Stevens Technologies, the for-profit subsidiary of Stevens Institute of Technology focused on technology commercialization.

Stevens Technologies professionals assisted HydroGlobe in the development of its business plan and investor presentation. They also helped compile the company’s due diligence documents and worked with attorneys at Lowenstein Sandler PC and the investors at Silicon Alley Seed Investors to prepare the closing documents.

HydroGlobe was incubated at the Stevens campus and is licensed to commercialize water purification technology developed by Stevens scientists and engineers. HydroGlobe’s new financing was led by Silicon Alley Seed Investors (SASI) and included New Product Development Consortium, Stevens Institute of Technology and other individual investors.

“Stevens Technologies management played a crucial role in helping the company secure early stage funding,” stated John Schroeder, President and Chief Executive of HydroGlobe. “Their skill, dedication and perseverance have enabled us successfully to raise money and close the round in an extremely difficult capital market.”

Sue Monico, CEO of Stevens Technologies commented, “HydroGlobe’s successful launch illustrates Stevens’ commitment to Technogenesis and serves as a model for technology commercialization. We look forward to working with the HydroGlobe team to help generate profitable growth and liquidity in the next few years.”

About HydroGlobe

HydroGlobe is a company of experts who deliver innovative and affordable water-purification technology to countries, municipalities and individuals. Specializing in removing arsenic and heavy metals from drinking water, HydroGlobe was founded in 2001 by scientists and engineers at Stevens Institute of Technology. Since then, this ongoing relationship has enabled continual advances in cost-effective and proprietary products. HydroGlobe's solutions have won awards for social responsibility and have made water arsenic-free for everyone from small well owners to large water filtration companies.

More information about HydroGlobe is available at hydroglobe.com.

About Stevens Technologies

Stevens Technologies is a for-profit subsidiary of Stevens Institute of Technology focused on commercializing the Institute’s technology. The company licenses intellectual property to start-up companies then grows the value of the companies through business development services, mentoring and incubation support. More information about Stevens Technologies is available at www.stevenstechnologies.com.

About Stevens Institute of Technology

Founded in 1870, Stevens Institute of Technology is one of the leading technological universities in the world dedicated to learning and research. Through its broad-based curricula, nurturing of creative inventiveness, and cross disciplinary research, the Institute is at the forefront of global challenges in engineering, science, and technology management. Partnerships and collaboration between, and among, business, industry, government and other universities contribute to the enriched environment of the Institute. A new model for technology commercialization in academe, known as Technogenesis®, involves external partners in launching business enterprises to create broad opportunities and shared value.

Stevens offers baccalaureates, master’s and doctoral degrees in engineering, science, computer science and management, in addition to a baccalaureate degree in the humanities and liberal arts, and in business and technology. The university has a total enrollment of 2,150 undergraduate and 3,500 graduate students, with about 250 full-time faculty. Stevens’ graduate programs have attracted international participation from China, India, Southeast Asia, Europe and Latin America. Additional information may be obtained from its web page at www.stevens.edu.  

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