In-Pipe Technology Raises $3.5 Million in Series A Equity Investment Funding

Company Also Announces Entry to Southeast Asia Through Joint Venture with

Kosmo Seraya Sdn. Bhd.

Oct 31, 2005, 00:00 ET from In-Pipe Technology Company

    WHEATON, Ill., Oct. 31 /PRNewswire/ -- In-Pipe Technology(R) Company, a
 provider of engineered technology and services for wastewater treatment, today
 announced that it has closed on $3.5 million in Series A equity funding from a
 group of institutional investors. In-Pipe Technology's lead investor was
 formed exclusively to invest in technology companies positioned to meet the
 many escalating regulatory, budgetary and operational challenges faced by
 today's wastewater treatment facilities.
     "In-Pipe Technology has proven the old adage that an ounce of prevention
 is worth a pound of cure," said Dan Williamson, co-founder and CEO. "With our
 patented technology and bioengineering processes, In-Pipe Technology changes
 the nature of wastewater collection systems, turning them into highly
 productive parts of the treatment process."
     After studying the market for over a year, the new investors found
 In-Pipe's patented technology to be among the most effective in addressing the
 challenges faced today by wastewater treatment facilities. In particular,
 In-Pipe Technology helps municipalities achieve environmental compliance,
 control odors and corrosion, limit the impact of fats, oils and grease, reduce
 operating costs and maximize returns from infrastructure investment.
     "This simple idea, that treatment should occur throughout the wastewater
 collection system, has brought great gains in productivity for our customers,"
 Williamson added.
     This funding is a preferred equity investment and is the investor's first
 in what is expected to be a series of investments in the wastewater industry.
     In-Pipe Technology will use the investment to expand its technology
 research and development, strengthen customer support capabilities, recruit a
 technical advisory board consisting of industry leaders and support its
 aggressive business development efforts throughout North America and Southeast
     In-Pipe - Kosmo Biotechnology Joint Venture
     Specific to Southeast Asia, In-Pipe Technology also announced a joint
 venture with Kosmo Biotechnology of Kuala Lumpur, Malaysia. Kosmo
 Biotechnology is a subsidiary of Kosmo Seraya which is a holding company that
 includes major activities in the automotive, cellular telephone, and oil and
 gas production sectors in the Southeast Asia region. Under terms of the
 agreement, the new venture, IPT Kosmo Biotechnology, has acquired the rights
 to use In-Pipe's proprietary technologies to address the region's most
 challenging wastewater problems. Furthermore, the joint venture will undertake
 research and development to develop solutions surrounding wastewater
 treatment, waste reduction and waste bioconversion processes.
     "The fact that Kosmo selected In-Pipe Technology to address the many
 challenges faced in Southeast Asia is further evidence that In-Pipe's focus on
 real science and real results make us a partner our customers can count on,"
 said Williamson.
     About In-Pipe Technology Company
     Founded in 1999, In-Pipe Technology Company provides engineered wastewater
 treatment technology and services that meet the escalating challenges facing
 today's municipalities. At no net cost and with no new capital expenditures,
 In-Pipe's patented technology and engineered solutions help its customers
 achieve environmental compliance, limit noxious odors and corrosion, lessen
 the impact of fats, oils and grease, reduce operating costs and maximize
 capital expenditures. In-Pipe serves clients across North America and is
 headquartered in Wheaton, Ill.

SOURCE In-Pipe Technology Company