KP Does First (We Think) Water Deal
Kleiner Perkins has made what is believed to be its first water-related cleantech investment, peHUB has learned. A source at KP confirmed that the firm had invested in Applied Process Technology (APT), which makes water-remediation technology, but did not share the dollar amount or other details. There are no other water-related companies listed among the 15 companies in the “Greentech” portfolio on KP’s website. “There’s a lot of nitrates in water, most of it from agriculture fertilizers,” the KP source said. “About 4,000 wells in the Central Valley alone are closed … We believe with this new remediation process—which is a bio-film, a live filter—we could open up the vast majority of those and increase the water supply—not just in California, but nationwide.”
