Fresh Capital to Support Continued Product Development and International Customer Expansion
PALM CITY, FL, May 22, 2018 (GLOBE NEWSWIRE) -- Waterjet Robotics U.S.A., creator of the world’s most efficient marine coating removal equipment, announced that the company has secured a seven-figure funding package with Decathlon Capital Partners.
The company’s products are used throughout the international marine industry for removing vessel coatings for surface preparation in an automated and environmentally sensitive manner. This market consists of ships, barges, and other large vessels, both commercial and military, in drydocks at the 3,000 shipyards that service the more than 80,000 vessels at repair facilities worldwide.
“We are approaching our long-term goal of expanding our customer base internationally, as well as the development of our new Scorpion product,” said Waterjet founder and CEO Stephen Johnson. “Decathlon is helping us to achieve those goals.”
“The worldwide market for Waterjet’s technology is a vast opportunity that quickly caught our attention,” said Decathlon’s John Borchers. “Waterjet delivers an environmentally-safe, efficient technology for the essential maintenance and refurbishment of international shipping and military vessels. We are pleased to assist them in reaching their business goals.”
About Waterjet Robotics U.S.A.
Waterjet Robotics U.S.A. is the developer of the ENVIROBOT®, a disruptive, technological innovation that addresses the multi-billion-dollar coating removal market. The ENVIROBOT® is recognized as the most efficient Ultra High Pressure (UHP) water jetting system available worldwide. Waterjet technology is patented both in the U.S. and internationally as the only system using magnets to adhere to steel surfaces. A proven product, it saves significant time, costs, improves safety and eliminates environmental waste. Learn more at http://www.waterjetroboticsusa.com/.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at www.decathloncapital.com.