Total and BASF to exit NanoH20 in $200m acquisition

Mar 18, 2014 • Robert Lavine

Chemical company LG Chem is set to buy the US-based desalination membrane producer in a $200m deal that will provide exits for BASF and Total.

South Korea-based chemical company LG Chem is set to acquire US-based, corporate-backed water desalination technology developer NanoH2O for $200m, according to a filing to the Korean Stock Exchange.

BASF Capital, the corporate venturing arm of Germany-based chemical producer BASF, and France-based petroleum company Total’s unit Total Energy Ventures contributed to a $40m equity round secured by NanoH2O alongside $20.5m in debt financing in April 2012.

The company has so far raised $75m in equity funding from investors that also include…

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