Ad SQM LV SAFE with remote waters

SQM Lithium Venturescorporate venture capital fund for the company’s lithium business, announced the first Simple future capital agreement (SAFE) with distant waters, a Chilean startup which focuses on water treatment for rural communities. This contract allows the business to receive investment and establish that number of shares what the investor gets This will be determined when the next round of investment takes place.

“This means an opportunity to have a share in the future in the possible formation of this startup into something bigger, into a joint-stock company. This. It’s more than just a loan. This is one of the working formulas at Lithium Ventures. Several formulas have been studied to find out which method of financing startups is the right one. Lithium Ventures is handling it. On the one hand, to identify areas related to the company, the interests of the company in this case, and at the same time have a more financial and investment perspective to see what the startup needs to grow,” he said. Corrado Torre’s pulse, SQM Hydrogeology Manager.

“Waters seemed distant to us interesting suggestion because it targets a fundamental segment globally. Access to water and clean water is an issue that affects a large part of the world’s communities. Remote Waters developed this idea provide a solution technological, to provide drinking water or irrigation to communities that They are relatively isolated. We thought it was a very interesting idea,” he added.

SQM Lithium Ventures is evaluating this alliance is going in the right directiongiven the potential that a startup born in 2018 has.

“We believe that this is an initiative, a startup Remote Waters has great potential. We bet that the startup will find a way to grow to transform itself into a more solid company. This is where the idea of ​​a partnership with them arose. We think we are partner suitable to give you the financial support and vision of a large company. What they don’t have yet. We believe that their idea is correct, very well directed. We believe in it It’s a perfect partnershipbetween the big one, which has the resources and the vision, and the small one, which has a very real vision.”

SQM LV has already delivered a initial capital is 200 thousand US dollars, and it can be extended. The company’s participation in the startup has not yet been determined.

“This part must be determined at the moment when it will be determined how this company faces the a wider range of shareholders. This is when SQM determines what involvement it will have. It depends on the potential that the company is capable of to demonstrate to shareholders that it’s not just us.”

Remote Waters was selected from a a wide selection of startups who are interested in the water sector.

The startup, founded in 2018, aims to address the shortage access to drinking water which affects many communities in Chile and the world. They have projects both in Chile and abroad. Its founder, Pablo Cazorlatold Pulso in detail what the company does and appreciated the alliance with SQM Lithium Ventures.

“What we do is clean polluted water. Process and leave in useful water. We use adapted processes such as reverse osmosis. We have a focus that is for rural settlements. All this in the context of water scarcity and drought. We can treat sea water, rivers, wells either for drinking or for agricultureCazorla said.

At the same time, he stated that “we are participating in the competition More cast and less occupied area and we won it at that time. The project consisted of purifying water from the Loa River and enabling agriculture in the desert. It was like the first record of SQM Lithium Ventures. Then this first program opened and we were able to get in… We started to question the business model a little bit and how to scale and combine our perspectives to make ourselves a global business.”

Cazorla sees this alliance with SQM LV as a vote of confidence.

“The impact is high because the industry as a whole Venture Capital in Chile It is quite focused on fintech, on software, on applications. SQM Lithium goes ahead and invests in impact entrepreneurs, and in our case it’s a service, and is in the spotlight, which is not only lithium, but also water. A giant company comes with us and supports us. This is a huge vote of confidence and a demonstration that we are scaling.”