Stonehouse Water Technologies, a Milwaukee-based startup developing energy-efficient water purification systems, said it raised more than $1.5 million from investors. Launched in 2012, Stonehouse is developing a water purifier about the size of a dehumidifier that’s designed for use in residential, commercial, and agricultural properties. According to a press release, the company’s water purification system will be available for purchase starting in early 2018.
Mark Sellers, a former executive at the plastic injection molding business MGS Mfg. Group, led the round, Stonehouse said. Mason Wells, a Milwaukee-based private equity firm, acquired MGS in 2016 for an undisclosed sum.
—Wisconsin passed legislation this week allowing businesses based in the state to incorporate as benefit corporations. These are for-profit legal entities whose articles of incorporation and other organizing documents require the businesses to provide returns to shareholders, employees, and society at large. Read the full story here.