DENVER, Jan. 30,
2023 /PRNewswire/ -- Greyter Water Systems Inc.,
provider of The Greyter HOME™, a residential greywater reuse
system advancing the construction and building industry
completed a $10m Series B round. Led
by Ferguson Ventures, the Corporate Venture Capital (CVC) arm of
Ferguson, a leading North American value-added distributor serving
the built-world industry, and LENX, the investment
arm of Lennar, one of the nation's leading homebuilders, the
investment offers Greyter the opportunity to scale its business to
meet increasing demand from builders for sustainable and water
efficient homes and communities.
The Greyter HOME is a revolutionary, award-winning appliance
that meets the stringent NSF 350 standard for residential greywater
reuse and can reduce indoor water consumption by as much as 25%.
This first-of-its-kind, fully automated 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, by teaming up with Ferguson Ventures and
LENX, is poised to make great strides toward changing
the way water is used in residential homes.
With increasing stresses on water supply, homebuilders and
municipalities are working together to reduce water consumption
within the home. Greyter has been steadily building momentum since
its Series A closing in early 2020, when it subsequently began
integrating the Greyter HOME solution into residential homes at
greater scale.
"Over the past 10 years, we've had an obsessive focus on
developing a solution that manages water more efficiently because
it makes no sense to flush toilets with drinking water," said
Mark Sales, co-founder and CEO. "By
capturing and treating shower and bath water so that it can be
reused to meet the demands of toilet flushing, the Greyter HOME
offers builders and municipalities the single greatest water
conservation solution for the home.
"Ferguson is committed to helping our customers design and build
water-efficient communities," says Blake
Luse, Managing Director of Ferguson Ventures. "We invested
in Greyter to accelerate the adoption of innovative and sustainable
solutions to reduce water consumption. They have created a
revolutionary product, and together we'll help the industry build
better, more environmentally friendly homes."
"The importance of incorporating sustainable and logical
environmental solutions into our homes and communities is front and
center at Lennar," said Eric Feder,
President of LENX. "Greyter has been an extraordinary
partner, and this investment underscores our continued commitment
to accelerate the ability to bring sustainable, water savings
solutions to our homeowners across the country."
In 2022, Greyter teamed with Ferguson and Lennar to bring the
Greyter technology to 29 homeowners at Lennar's Red Hawk community located in Castle Rock, Colorado. "We commend the town of
Castle Rock's commitment to water
conservation and its adoption of Regulation 86, which provided the
framework for including the Greyter HOME solution within this
community," said John Bell,
co-founder and CCO. The completion of Red
Hawk marks the Greyter HOME's third community with
Lennar.
"We are extremely excited to see the industry helping to lead
the charge on water conservation. Having investment from
LENX and Ferguson Ventures continues to validate our
innovative product and its importance to water sustainability
efforts," said Mark Sales co-founder
and CEO, "This is also a strong signal that the industry is
addressing water conservation by ensuring that homes and buildings
are energy efficient as well as water-efficient – the perfect
combination for a sustainable future."
About Greyter Water Systems
With pressures on
freshwater 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 in a family home. Greyter also offers
industry proven water reuse solutions for multi-unit, commercial
and industrial buildings. 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/industrial
and residential marketplace. For more information on the Greyter
HOME and Greyter Water Systems 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. Lennar 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 Lennar's homes and,
through LMF Commercial, 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. LENX drives Lennar's technology,
innovation, and strategic investments. For more information about
Lennar, please visit lennar.com.
About Ferguson
Ferguson plc (NYSE: FERG; LSE: FERG) is
a leading value-added distributor in North America providing expertise, solutions
and products from infrastructure, plumbing and appliances to HVAC,
fire, fabrication and more. We exist to make our customers' complex
projects simple, successful and sustainable. Ferguson is
headquartered in the U.K., with its operations and associates
solely focused on North America
and managed from Newport News,
Virginia. For more information, please visit
www.corporate.ferguson.com or follow us on LinkedIn:
www.linkedin.com/company/ferguson-enterprises.
About Castle Rock Water
Castle Rock Water is
municipally-owned and provides three distinct water services –
drinking water, wastewater and stormwater. Though a part of the
City of Castle Rock, the water
provider is funded solely through rates and fees. Having one water
provider for all water service provides consistency and reliability
for service with an integrated approach for efficiencies. For more
information about Castle Rock Water, please visit
www.crgov.com
Media Contact:
Kate Peters
Greyter
media@greyter.com
(844)473-9837 xt.235
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SOURCE Greyter Water Systems USA