Water main utilization of the desire to go global vision of oil’s future’

  • Water main utilization of the desire to go global vision of oil’s future’
    Independent.t. E.
    How much easier would line payments for water was easier to deal with if people could just recycle the water they use in their house? Paul O Grady is working on technology to do just that. He’s the CEO H2Ozone – water filtration company that wants to quickly scale.
    https://www.independent.ie/business/irish/water-recycling-chief-has-thirst-to-go-global-with-vision-for-oil-of-the-future-37220390.html
    https://www.independent.ie/business/irish/article37220389.ece/496cf/AUTOCROP/h342/2018-08-16_bus_43302524_I1.JPG

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How much easier would line payments for water was easier to deal with if people could just recycle the water they use in their house? Paul O Grady is working on technology to do just that. He’s the CEO H2Ozone – water filtration company that wants to quickly scale.

This is not the first thing that he looked at the building.

A native of Limerick, Mr. O’grady (57) spent more than 20 years of experience in AIB before moving to ICS building society and then in the “ABN AMRO”, where he became Director of operations in Ireland.

He said verification of the business known as Buytel – the idea that financial transactions can be confirmed on the phone, using technology that recognizes a voice.

“We basically did a business plan and we raised £ 5 million on the basis of the business plan, it was such a time,” Mr. O’grady said.

“We left and went to an abandoned building in the city center and started with two computers.”

Two years later, he was in September 2001, and the company was on the verge of signing his first contract – but then 9/11 happened and other parties withdrew from the transaction.

“We need to sit down and reinvent the company and we basically went to mobile infrastructure and mobile games. We won in the end, the contract with O2 in Ireland – when you wanted to order a ringtone or a game or anything like that, we had infrastructure behind it. It was great. It was different – at least we will not lose money.”

After that he became involved in the deal to take the Irish quality Association – the Guardians ‘certification Q mark’ to ensure recognition of business excellence – Private. After a chance meeting on vacation in the middle East, his involvement with the label Q will represent his next big break.

“I went on vacation to the middle East in 2005, I met a very interesting character, told him that we did and he asked me to come and make an assessment of the mine in a place called Fujairah, because they lose money.

“I was out for six weeks – presented a business plan saved them about 2 million euros per year. It was in may … they called me back in October which I thought was just another performance, and they offered me a job as CEO of the company.”

It was a granite mine and is an attractive opportunity for business in the area where the rock was mostly limestone. This meant that the mine was well placed to put a more durable granite in the rapidly developing Emirate of Dubai.

To move the business forward, Mr. O’grady at transportation company, and later made a deal with the Hong Kong shipping company in Hong Kong, who went on to purchase the business.

Deciding that he didn’t want to retire – he was bored – Mr. O’grady began to look for new investments.

“I wanted to get involved in the construction business, we have built a business in the middle East from virtually zero to £500 million business.

“We want to use this experience to try and do something here.”

He went about 50 night angel investor, finding the box he wanted to invest in until he came across a rainwater harvesting business, which was then called the rain safe. His idea was pure rain water for drinking standard.

That was down to the alley Mr. O’grady.

“I was always in the water. I think it is the oil of the future.

“Water is becoming increasingly scarce – you’ll hear a lot of talk about how to keep it, how to use it. And we think that is where we come in”.

At first he was a non-Executive Director, but in 2015, after the pitching, the Council decided that we needed to change direction. The company needs to raise cash quickly if he was going to survive – and managed to get 2 million euros in the six weeks to keep the lights on.

The list of sponsors includes Dana partners, the Irish Private equity firm, two members of which created channels setanta Sports.

Dana also has interests in commercial pub and restaurant group and Smith & Wollensky Steakhouse chain.

Now the company is rebranding from rain safe for H2Ozone – is on the path to profitability, revenue is likely to be three times higher than last year in 2018.

The firm, which is based in Newtown mount Kennedy, Wicklow, can still lose 1 million euros this year, but focused on profitability in 2019. A key strategic decision was the extension uses it, in addition to rain water in the cleaning of other types of water. From there they made the jump in industrial and commercial premises, including the merrion hotel, which uses technology H2Ozone for water purification.

The key point is that technology improves the environmental space, and to reduce the amount of water injected into the system and thereby saving money on paying for water (in Ireland companies pay for their water – physical persons).

People tend to worry though about the technology that prevents them with water, so as to achieve scale quickly, the company believes that the best option is to find a global strategic partner.

He is already working with Xylem – American technology of the water business, which helps to give him confidence, and also helps to increase sales.

Future growth could include items for home – existing product must be miniaturised in order to make this happen – as well as desalination product, which will make sea water drinkable.

However, this requires significant investments, Mr O’grady says. It is also providing agriculture-focused product, known as agri-safe. “The Council came to the conclusion that we need a global partner to really take advantage of it. The technology is unique and has patents and everything, but everything can be copied. So if you are going to take this opportunity, you will have to do it in a big way.

“Last year we raised 3 million euros and we’ll probably collect another € 1 million-€2m this year. But if we want to achieve scale, the only way we’re going to do this with a global partner. Therefore, we are actively now trying to go to bed with a global partner.

“We believe that the technology is well proven at this stage, so it’s a case of using experience from production to sales, from sales to service – we just can’t do it.

“The first intention of the Board of Directors not to sell – they would like to keep involved in it. Does this mean that we may have to abandon most or will eventually have to sell it, if someone puts a number on the table?

“Nothing is ruled out, but we hope that we’re going to take a strategic investor that will allow us to become part of the growth phase.”

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