Quench Secures Additional $13 Million in Growth Financing

Jan 06, 2010, 14:08 ET from Virgin Green Fund

KING OF PRUSSIA, Pa. and SAN FRANCISCO, Jan. 6 /PRNewswire/ -- Quench USA, Inc., one of the largest independent owners, marketers and distributors of point-of-use bottle-less drinking water purification and dispensing systems in the United States, announced that it has raised $13 million in funding for continued growth. Virgin Green Fund, a private equity firm focused on growth capital investing, led the latest round, with existing investors Element Partners and Douglas Brown also participating.

"Quench is uniquely positioned to capitalize on the strong growth in the point-of-use sector," said Evan Lovell, a Partner with Virgin Green Fund. "We are excited by the opportunity to help the company continue to execute on its business plan and further expand its product offering across the country."

"The Quench management team is very pleased to have Virgin Green Fund as an investor given their experience in growth investing and particular expertise in the water sector," said Quench CEO Dan Kuzmak. "We are also thankful for the continued support of our existing investors. The capital raised will be used to expand the business in new regions across the country where we continue to see a strong demand for the point-of-use product, which is increasingly becoming the chosen alternative to the bottled water delivery business."

Since 2006, Quench has provided thousands of large and small businesses with an endless and sustainable supply of purified drinking water using the latest state-of-the art water filtration technologies. Quench's drinking water service provides customers reliable water dispensing systems at the point-of-use that utilize a building's existing tap water system to deliver chilled or hot high-quality purified and filtered water on-demand. Quench systems offer a lower cost, healthier, more convenient and environmentally-friendly alternative to traditional bottled water delivery. For more information, visit www.quenchonline.com.

About Virgin Green Fund

Virgin Green Fund has been established to invest growth capital in companies in the renewable energy and resource efficiency sectors, primarily in the United States and Europe. Virgin Green Fund is a private equity fund with offices in London and San Francisco. The Fund has been launched with the backing of Sir Richard Branson's Virgin Group and a strong network of additional limited partners. For more information, visit www.virgingreenfund.com.

About Element Partners

Element Partners is a leading growth equity firm with $800 million under management exclusively focused on making investments in the energy and clean technology markets. Element invests in established, high-growth companies with innovative solutions to global energy, resource and environmental problems. The firm strives to become a long-term partner with passionate business leaders who have built pioneering companies. Element has a long history of providing our companies with the financial resources, industry contacts and strategic insights necessary to maximize growth and shareholder return. For more information on Element Partners, visit www.elementpartners.com.

SOURCE Virgin Green Fund