Atmospheric water generator Airowater plans expansion, looks to raise Rs 150 crore funds
Mumbai-based atmospheric water generator (AWG) manufacturer Air-O-Water has charted massive expansion plans across India and is keen to strengthen its presence beyond Tamil Nadu, Karnataka and Kerala.
The company is looking to raise as much as Rs 150 crore ($20 million) from private funds for the expansion activities and boosting its production capacities.
The Air-O-Water brand has been promoted by Mumbai-based Roxy Exports Limited, which has been manufacturing electrical panels and communication equipment. In the Tamil Nadu market, including Chennai, the company has done 200-odd installations of its AWGs. It has been experiencing a sustained demand from Tamil Nadu from the retail and corporate segment as also the industrial customers.
The company expects Tamil Nadu & Chennai to be worth Rs 500 crore, with the potential of 50 per cent growth annually. Also with the growing incidences of water contamination & scarcity in India, the company sees a strong potential in several other states including Karnataka, Maharashtra, Kerala, North East & West Bengal.
“We started our operations in Tamil Nadu in 2018 and received a major boost within a short span of time with the 2019 water crisis in Chennai sparking an interest in the AWG technology, for which Airowater owns patent rights for manufacturing – using Air2Water Patent. As we move towards further national and global expansion, we expect Tamil Nadu to play a key role in our growth with the market size being almost Rs 500 crore and an expected 50 per cent growth annually”, said Roxy Exports Ltd managing director Siddharth Shah.
The company is looking to tap across customer categories including retail in residence, small offices; corporates like banks, and IT manufacturing set-ups; defense services and health & education centers, government departments and hotels & restaurants.
“The increasing incidents of water contamination and water scarcity in India make it extremely important for us to adopt newer sources of water generation that doesn’t harm natural resources and is at the same time pure. With our unique technology, Airowater is well placed to cater to the demand for such a solution that is extremely relevant for India’s future. This gives us confidence that we will attract fast growth not only in India but also some global markets facing similar issues,” said Shah.
“We have set our sights on capturing a large share of the atmospheric water generator market in India through expanding nationally besides looking at global expansion in regions like Africa”, he added.
Air-O-Water said it uses a one-of-a-kind and adaptable technology that creates water from the humidity in the air, giving fresh & bacteria-free pure drinking water. This water is completely untouched by contaminants in the ground or any other surfaces, unlike piped water. Air-O-Water utilizes the moisture content in the air to create the purest form of drinking water through a patented four-step filtration process, the company said.
