3M New Ventures (MMM) Announces Investment in HydroNovation Inc. of California
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3M New Ventures, the corporate venture organization of 3M (NYSE: MMM), announced an investment in HydroNovation Inc. of California, a developer of next- generation water conditioning systems for residential and food service industry applications. The Series B round financing included a second investment by Clean Pacific Ventures.
Terms of the transaction were not disclosed.
Stefan Gabriel, President of 3M New Ventures said: “We are delighted to announce our investment in HydroNovation. The combination of HydroNovation’s advanced water conditioning technology with 3M’s core capabilities in water filtration, membranes, and films will create new technical and sales opportunities for both companies. It provides homes and small businesses with high quality water, and helps to protect the environment.”
Terms of the transaction were not disclosed.
Stefan Gabriel, President of 3M New Ventures said: “We are delighted to announce our investment in HydroNovation. The combination of HydroNovation’s advanced water conditioning technology with 3M’s core capabilities in water filtration, membranes, and films will create new technical and sales opportunities for both companies. It provides homes and small businesses with high quality water, and helps to protect the environment.”
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