BOSTON, November 16, 2023 – Cambrian Innovation (Cambrian), a leading turnkey wastewater treatment, water reuse and energy recovery-as-a-service company, today announced that funds affiliated with Pennybacker Capital Management, LLC (Pennybacker), a leading real assets investment manager, have acquired the company and committed an additional $200 million to support Cambrian’s growth.
Based in Boston, and founded in 2011 by Chief Executive Officer Matthew Silver, Cambrian has developed innovative technology to address wastewater treatment problems. Cambrian’s flagship Water-Energy Purchase Agreement (WEPA) model allows commercial and industrial customers to pay only by the gallon treated, or kilowatt hour generated, capturing the economic savings and sustainability benefits of efficient water reuse while focusing on their core businesses.
Cambrian has implemented solutions with world renowned brands in food, beverage, and lifestyle resort industries, including Anheuser-Busch, Sapporo, Keurig Dr. Pepper, Louis Vuitton Moet Hennessy, and Discovery Land. The company has received accolades from the World Economic Forum as a technology pioneer and as a global circular economy leader.
“Across the U.S. and internationally the need for sustainable water treatment, water reuse, and clean energy, has never been greater,” Matthew Silver, CEO of Cambrian said. “Cambrian’s innovative technology and business solutions help our customers address these resource needs without capital investment while saving money from day one. Pennybacker’s support will help us expand and improve our offering to the benefit of all our customers.”
Sam Warfield, Managing Director and Head of Infrastructure at Pennybacker, said, “We are excited to partner with the Cambrian team to offer its customers with a turnkey water and energy solution that provides both economic savings and sustainability benefits. This investment is a great example of Pennybacker’s differentiated infrastructure strategy and the value of the Pennybacker Platform.”
About Cambrian
Cambrian is a leader in commercial and industrial water-reuse and energy-recovery as a service. Leveraging its award winning, proprietary product suite, Cambrian provides turnkey wastewater treatment solutions that minimize life cycle and operating costs. With its flagship Water-Energy Purchase Agreement (WEPA) model, Cambrian will design, construct, install, own, and operate the water treatment system, charging only by the gallon treated or kilowatt hour generated —allowing customers to focus on their core businesses while realizing the multiple cost and environmental benefits of efficient water management. Founded out of MIT over a decade ago, Cambrian has implemented solutions with world renowned brands in food, beverage, and lifestyle resort industries, including Anheuser-Busch, Sapporo, Keurig Dr. Pepper, Louis Vuitton Moet Hennessy, and Discovery Land. The company has been highlighted as a World Economic Forum Technology Pioneer, a World Economic Forum Global Circular Economy Leader, and Top 50 Emerging Global Water Company. For more information, visit www.cambrianinnovation.com
About Pennybacker Capital
Pennybacker Capital is a leading real assets investment manager with offices in Austin, New York, Denver, and Charlotte. The firm pursues real estate and infrastructure strategies across the entire capital structure.
For more information, visit https://www.pennybackercap.com.
