Sembcorp invests in a technology solutions firm

Sembcorp Industries (Sembcorp) subsidiary Sembcorp Utilities has signed an agreement to invest NOK30 million (S$6.4 million) in Norwegian-based Biowater Technology (Biowater).

After the transaction, Sembcorp will own 28.8 per cent of Biowater, which designs and engineers technologies and solutions for the treatment of municipal and industrial wastewater.

The remaining stake is held by Incitia Ventures II, Mallin Venture and Biowater's founders and employees.

Sembcorp will also have a strategic parternship agreement with Biowater, giving Sembcorp early access to its technologies, and Biowater access to Sembcorp's global facilities.