Bluewater Bio raises €22.5 million from Ombu, Hermes

   Bluewater Bio International (London, U.K.), developer of the HYBrid Activated Sludge (HYBACs) process and other water treatment technologies, has raised €22.5 million (about $30 million U.S.) in financing from European investment firms Ombu Group and Hermes GPE Environmental Innovation Fund LP. “Bluewater Bio has been on our radar for some time, and we have been watching its growth closely,” said Magnus Goodlad, head of renewables at Hermes GPE. “Now that the company is successfully converting its strong pipeline into meaningful revenue from major customers such as Severn Trent and Degremont, we felt the time was right to invest and are pleased to be working with Ombu on what we consider to be an exciting opportunity,” he added. London-based investment banking firm GP Bullhound advised Bluewater Bio on the transaction.