Latest Joshua Water Technology News
Jan 31, 2013
Published 4th October 2012 Colorado-based Joshua Water Technology has raised $2 million of fresh equity from investors including the Impact Opportunities Fund to fund its near-term expansion plans. Joshua’s main operating division, Genesis Water, supplies high-speed dewatering solutions for dredging and mining operations, and expects to generate revenues of around $25 million over the next twelve months, despite only having received final proof of concept for its technology in 2011. “The prospects for growth are really encouraging,” explained CEO Michael Hodges. “It’s the only technology in the world that can keep up with the dredge, meaning that the 1:3 ratio – one hour of dredging to three hours waiting for the dewatering process – has now been reduced to 1:1, and that is a tremendous saving to clients.” Joshua is now working with Veolia to introduce its technology into mining operations in North America, and hopes to expand into the Canadian oilsands in future.