Local Angel Network Invests 1.7 Million in New Wind Power Technology Company Addressing Massive Global Need for Water
February 4 2016
PETERBOROUGH, February 4, 2016 – Rainmaker Worldwide Inc., a company with unique clean-tech solutions for turning humid air into water, recently received an investment of 1.7 Million from Peterborough Regional Angel Investors. This investment will support the expansion of Rainmaker Worldwide Inc. and help to address a pressing human need in equatorial costal communities around the world.
Rainmaker Worldwide Inc. (RWI) is a water technology company that provides innovative and proprietary water solutions to communities and businesses that struggle with water scarcity. Canadian operations of RWI are based in Peterborough at their Brock Street office, and their machines are manufactured in Rotterdam, Netherlands.
Michael O’Connor, Peterborough-based serial entrepreneur, successful co-founder of WIND Mobile and CEO of RWI, says the new money will stay in Canada to assist in expanding and improving the new company. “This funding was critical for keeping the new headquarters and corporate growth planning base centered in Peterborough. Locally, we will employ six to ten people this year, and expand with the addition of a research and development element.”
RWI’s core technologies support two products; the first process requires no water source and yields water from the air. The second process uses a water source that is salty or contains other dissolved solids to create potable or purified water. In both instances, the processes are 100% environmentally sustainable. These two revolutionary inventions are the creation of Dutch mastermind and serial inventor Piet Oosterling, who O’Connor met by chance through a family friend.
“We see Rainmaker Worldwide as an excellent example of the kind of innovative, clean-tech businesses we hope and expect to see more of in our area,” says Miranda Janse, CleanTech Manager in the Department of Economy at the City of Rotterdam. “We look forward to continue the good cooperation with this company, with the Dutch subsidiary as well as with Rainmaker World Wide in Peterborough, Canada.”
O’Connor also credits the City of Peterborough’s and Trent University’s plan for an 85-acre Trent Research and Innovation Park with establishing the right environment for clean technology businesses to develop. He praises help from the Greater Peterborough Innovation Cluster (GPIC) for providing Rainmaker with invaluable early planning support.
“Rainmaker’s success in raising such significant funding and bringing their technology to market so quickly is a perfect example of how the partnership between PRAN and the Innovation Cluster benefits local entrepreneurs,” says Martin Yuill, CEO of GPIC. “It is this perfect combination of access to funding and value-added support services that makes Peterborough such a desirable location to start and grow your business.”
Rainmaker technologies will bring significant business, and research and development activity to the Peterborough area, and will also have a major impact on the communities in which their solutions are deployed. Plans for the near future include the induction of more research expertise to improve the company’s product portfolio.