An Australian company that participated in The Water Council’s startup accelerator program is planning an initial public offering on the Sydney Stock Exchange, marking the first time an alumnus of the Milwaukee-based program has filed to go public.
STAR (Stormwater Treatment and Reuse) Water Group, which makes biofiltration technology and bioretention systems and is based near Sydney, is aiming to raise $700,000 to $1 million in its public offering, valuing its equity at $4.9 million, according to a Thursday announcement. The Water Council invested $50,000 in the company in 2017 as part of its BREW (Business, Research & Entrepreneurship in Water) accelerator program.
“We identified STAR Water early on as a strong startup that can address issues of stormwater management and access to clean, safe freshwater around the world,” The Water Council president and CEO Dean Amhaus said in a statement. “Its success is a prime example of how The Water Council fosters innovation and economic development in the water sector.”