Advent-Morro has invested $1.5 million in Quality Water Services, a pioneering company in Puerto Rico in bottle-less water coolers and filtration systems.
Quality Water, according to its president Richard Christiansen Jr., aims to offer businesses a cost-effective alternative to supply their employees clean drinking water while, at the same time, having a positive impact on the environment by doing away with five-gallon plastic water bottles.
According to Advent-Morro President Cyril Meduña, this is the second investment the company makes in the water industry. In 2007, his venture capital firm invested in Seven Seas Water, which provides desalinization systems throughout the Caribbean. Meduña said that finding the right company for investment in the water cooler business was the result of a three-year search.
Richard Christiansen-Santaella, the founder of Quality Water and Christiansen Jr.’s father, was among the first to bring the concept of bottle-less water coolers to Puerto Rico.
The premise behind Quality Water is to do away with the five-gallon plastic containers which not only take up valuable storage space and involve truck deliveries but also do tremendous harm to Puerto Rico’s environment. On top of this, Christiansen Jr. said, using the system costs some 50% less than using bottles for the same or even better quality of water.
Advent-Morro, is a venture capital firm in Puerto Rico, was founded in 1989 and manages more than $120 million in risk capital which it has invested in more than 40 locally owned companies.