Malmö, Sweden, January 25, 2022 – ORBITAL SYSTEMS INC., world leading innovators of smart water technology for households, has raised 23 million USD through a private placement.
The company has seen great interest in its first product – the world’s first circular shower enabling significant water and energy reductions – with an increase in turnover by more than 100% for the third consecutive year in 2021.
The proceeds from the private placement will be used to ramp up commercial expansion and expand the product portfolio, further establishing Orbital as the only player in the market offering technology solutions that significantly reduce water and energy consumption without compromising comfort. The next Orbital product will be launched during 2022.
New investors comprise leading property development companies and well-renowned real estate professionals, among them K2A, M2 Asset Management AB, Stena AB, Polar Growth AB (part of Polar Structure AB) and Vatio AB while among existing investors participating include Niklas Zennström (board member), Peter Carlsson (board member), Investment AB Öresund, Philian AB, Formica Ventures AB and C. Ehrnrooth Family Office.
“We’re very pleased that major real estate owners and developers acknowledge the tangible benefits of our technology, not only buying our products but also investing in the company. With water shortage becoming more evident across the globe and energy prices going through the roof, there’s an obvious momentum for Orbital and our no-compromise solutions. This investment will enable us to increase pace and traction in bringing smarter water use to the world”
says Mehrdad Mahdjoubi, Founder and CEO.
Half of the energy consumed in an average household is used to heat water used in the shower. In traditional solutions the water is heated and used once, just to be sent down the drain. The Orbital shower is the world’s first circular shower, that purifies and recirculates the water in real-time, enabling an exact temperature control and water pressure. This can save up to 90% of water use and up to 80% of energy use without compromising comfort. It’s a revolutionary solution available for purchase today, with more products to come.
ABG Sundal Collier acted as financial advisor to ORBITAL SYSTEMS INC. in the privat placement.
More information and press enquiries:
Peter Bixe email@example.com +46 763 27 08 89
Orbital Systems was founded in 2012 by Mehrdad Mahdjoubi, as a result of a collaboration between NASA and Lund University. It has a global portfolio of more than 100 patents and showrooms in Malmö, Copenhagen and Stockholm www.orbital-systems.com