Greyter Water Systems Inc. Raises $3M In Series A Funding Led By Lennar Ventures
TUCSON, Ariz., March 12, 2020 /PRNewswire/ -- Greyter Water Systems Inc., creator and manufacturer of the Greyter HOME water recycling system, today announced that it has closed its Series A funding led by Lennar Ventures, which drives Lennar Corporation's technology and innovation strategies. The funding includes $3M in equity that will be used to scale the company's business to meet the demand of builders. The company will add staff and expand inventory and production capacity.
"This is a very strategic investment that will provide Greyter with the support it requires in delivering the Greyter HOME water recycling solution to the market," said Mark Sales, CEO and Co-founder, Greyter Water Systems. "We are now very well positioned to increase our production capacity and staff so that we can deliver on our vision of helping builders and municipalities create water efficient homes and communities."
The Greyter HOME(TM) is an award winning and NSF 350 certified water recycling system that can help reduce indoor water consumption by as much as 25 percent in a family home.
"Greyter has created an exciting water savings solution that aligns with Lennar's vision of adopting innovative solutions that benefit our home buyers and the communities they live in," said Eric Feder, Managing General Partner, Lennar Ventures. "This investment highlights our continued interest in providing sustainable living solutions for our customers."
Instead of flushing toilets with treated drinking water, the Greyter HOME allows you to flush them with the water already used for bathing, reducing interior household water consumption by as much as 25%. The system works by collecting water from showers and baths to a device roughly the size of a small stacked washer-dry. It first screens out any hair and large solid particles. Then the system's ultra-filter removes microorganisms, remaining solids and most of the soap. The filtered water then passes through a process that removes any remaining soaps and surfactants. That water is then stored until the toilet is flushed. If there's too much greywater, excess is sent down the drain -- where it would typically go without the system. If there's too little water for toilet flushing, the system can tap into water lines to make up the difference. As Greyter's Co-Founder and Chief Commercial Officer John Bell states in this short video explaining how the system works, "it makes no sense to be flushing toilets with perfectly good drinking water."
In order to expand its growth and continue to deliver its reliable high performing solutions to the market quickly, the company will be increasing its operations and production staff along with adding key leadership roles. For more information about these job opportunities, visit www.greyter.com/careers.
About Greyter Water Systems
With pressures on fresh water resources and with the rising costs of water, Greyter's mission is to work with builders and municipalities to create water efficient communities. The Greyter HOME® is an award-winning, NSF 350* certified water recycling system that can help reduce indoor water consumption by as much as 25 percent in a family home. The system captures water from showers and bathtubs, treats it to a near-potable quality and provides clear, odor-free water to meet a home's toilet flushing demands. Greyter also offers industry proven water reuse solutions for multi-unit, commercial and industrial buildings, which can reduce water and wastewater demands by 30 percent. Greyter is a privately held business led by a team with many years of experience in offering innovative water resource management solutions to the commercial and residential marketplace.*Model GH1118 is NSF 350 certified. For more information about Greyter Water Systems, please visit www.greyter.com.
About Lennar Corporation
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of the Company's homes and, through Lennar Mortgage Finance, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Lennar Ventures drives Lennar Corporation's technology and innovation strategies. For more information about Lennar, please visit www.lennar.com.
CONTACT: media@greyter.com
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SOURCE Greyter Water Systems Inc.
