Horizons Ventures, the Hong Kong-based firm that manages the private, early-stage investments in the technology sector for billionaire entrepreneur, philanthropist, business magnate and Facebook and Spotify investor Li Ka-shing, has acquired a $3 million stake in water damage protection technology company HzO as part of a preferred equity investment. HzO was originally acquired by ZAGG in 2009 but since spun off as an independent company to improve and commercialize its ‘WaterBlock’ technology.
This technology protects consumer electronics like phones, media players, laptops and whatnot from water and other liquids (for starters), “on the molecular scale”. From the company’s website:
A nano-scale film with special water- repelling properties is applied to the entirety of the electronic device, seeping into the crevices, and rendering it highly water resistant. Take it in the rain or spill your drink on it — it will still run. It could even survive a drop in the toilet, but we hope you never have to find out.
Utah-based HzO says it intends to integrate its technology not only in consumer electronics but also automotive devices, military devices and vehicles, solar energy, and industrial applications.
Jason Wong, CFO of Horizons Ventures, will take a seat on HzO’s board of directors as part of the investment agreement.
HzO, Inc. is an engineer of industrial, thin-film nano-coatings. The company was founded in 2009 and is based in Salt Lake City, Utah.
Mr. Li Ka-shing is the richest person of East Asian descent in the world and the 11th richest person in the world with an estimated wealth of US$26 billion (as estimated by Forbes). His primary operating company is Hutchison Whampoa Limited. Mr Li’s younger son, Richard, is Chairman of PCCW, one of Asia’s leading internet and telecommunications companies. Mr Li Ka-shing is the Chairman of Cheung Kong (Holdings) Limited and Hutchison Whampoa Limited. Cheung Kong (Holdings) Limited is...