Upwell Water spins out decentralized treatment platform as TurnClear

Upwell Water has spun out its decentralized water and wastewater treatment-as-a-service business into a standalone company, TurnClear, supported by a new investment from Nuveen, a global investment manager with $1.4 trillion in assets under management.

TurnClear provides water and wastewater treatment through a utility-style service model in which the company builds, owns, and operates decentralized treatment systems. The approach allows commercial and industrial customers to pay a monthly fee rather than make large upfront capital investments. Applications include water reuse and recycling, emerging contaminant treatment, and permit compliance across sectors such as data centers, power generation, chemicals, mining, and food and beverage.

“TurnClear was created to eliminate the capital and operational friction that slows adoption of water treatment solutions,” said Dr. Hu Fleming, chief executive officer of TurnClear, in a press release. “By owning and operating treatment assets, we enable customers to access high-performance systems through a service model that aligns cost with usage and performance.”

The new capital will be used to expand TurnClear’s portfolio of decentralized treatment assets and support new projects in partnership with technology providers. TurnClear will continue collaborating with industry partners including Aquatech International Corp. and Fluence Corp.

“With this spinout and infusion of growth capital from Nuveen, TurnClear is uniquely positioned to scale a modern approach to water treatment that aligns with how many customers want treatment to be provided and financed,” said Tamin Pechet, chief executive officer of Upwell Water, in a press release.

Nuveen cited increasing industrial activity and regulatory complexity as drivers for service-based treatment models.