2024-04-03 23:13:48
This is financing Remote Waters, a clean technology startup, based in Chile, focused on water treatment for rural communities.
SQM Lithium Ventures announced the first “Simple Agreement for Future Equity” or SAFEa contract that allows a business to receive investment and establish that the number of shares that the investor receives will be determined at the time there is a subsequent round of investment that defines a price for the startup.
In this case, it is the company Remote Watersa “clean technology” startup, based in Chile, focused on water treatment for rural communities.
SQM Lithium Ventures is the fund of corporate venture capital for SQM’s lithium business and this investment is part of the serie seed of the Corporate Acceleration Program in alliance with Endeavor.
The uprising of the series seed marks a significant milestone for Remote Waters, validating its pioneering approach to water treatment for rural communities.
This startup was born to solve contaminated water problemsand convert it into useful water for drinking, agricultural or industrial use, for communities in Latin America.
“The relationship with SQM began a few years ago through the More Lithium Less Footprint contest, with the first pilot to purify water for hydroponics and agriculture in the desert, a place where it was not possible due to the quality of the water. Then we participated in the first generation of the SQM Lithium Ventures corporate acceleration program, which is very selective and global in scope,” said Pablo Cassorla, CEO of Remote Waters.
He added that “through the advisory boards, 4 in total, the academy and one-on-one discussions with industry experts, mentors from SQM and Endeavor, the program allowed us to question ourselves again about the business model and the ability to climb. Everything aims to become a global business.”
The urgency of drinking water
According to the WHO, diseases from drinking unimproved and poorly sanitized water cause 4% of all deaths and 6% of all diseases in the world.
Thus, Remote Waters designs, integrates, installs and maintains water purification systems, which supply clean and safe drinking water to communities without access to it. This system eliminates contaminants and viruses, limiting any risk of infection to a maximum.
This solution does not generate CO2 emissions when integrated with solar energy and is independent of the electrical grid. In addition, it is easy to transport and quick to install, also facilitating operation, while being, at the same time, environmentally sustainable.
Remote Waters designs for different water sources, integrating solar technology and predictive maintenance with artificial intelligence, to optimize in real time and minimize operating costs. Thus achieving a autonomous operation and can be controlled remotely.
“The importance of water resources, at an international level, has been acquiring increasing value for countries and their communities, especially in those close to operations such as mining, where The management of water resources plays a transcendental role in the operationn,” said María de los Ángeles Romo, director of SQM Lithium Ventures.
“Remote Waters represents an interesting innovation that allows metals, minerals and salts to be filtered to obtain water, solving with technology a basic need of global reach with positive social impact for the places where it is needed most,” added Romo.
Remote Waters was one of the 15 companies to attend COP28 in Dubai by ProChile, as a technology for adaptation to climate change. In addition, it is a B company, and with the “Made in Chile” seal, which has been a beneficiary of CORFO, through the “Semilla Inicia” and “Growth” lines of Start-Up Chile, the public accelerator.
Finally, Mark Fones, vice president of Strategy and M&A Lithium, who was part of SQM’s demoday, when they decided to continue with their support, explained that “the urgency for water is already an issue that concerns us at the present and seems fundamental to us.” support entrepreneurs who see an opportunity in the maximum use of water as a resource.”
According to the executive, the challenge for a business like Remote Waters is to be able to scale quickly and globally to bring these types of solutions to communities in isolated or critical conditions.
“At SQM Lithium Ventures we are committed to financing these types of initiatives not only to promote the scaling of related technologies and businesses, but, through them, contribute to the quality of life of multiple communities”Fones concluded.