Mubadala, Glenwood Seal Deal for NanoH2O

Mubadala Investment Company and Korea-based private equity firm Glenwood Private Equity have completed a co-investment in NanoH2O Co., Ltd., marking the formal closure of their acquisition after required regulatory approvals were secured. NanoH2O, formerly the water-treatment division of LG Chem, began operating independently as of 1 December 2025 under its new identity.

NanoH2O is globally recognised for its advanced reverse osmosis membranes, widely used in seawater desalination and industrial water treatment. The technology has established the firm as a leading player in energy-efficient large-scale desalination, offering an alternative to traditional thermal processes. With more than 95 per cent of its revenue generated from markets outside Korea, NanoH2O serves municipal and industrial clients across a diverse global footprint.

The takeover follows a broader move earlier this year by LG Chem to divest its water-solutions business. In June 2025, LG Chem agreed to sell the division to Glenwood for 1.4 trillion South Korean won, a transaction designed to allow LG Chem to refocus on battery materials, electronic materials and other growth areas. Glenwood concurrently committed another 200 billion won for capital expenditure aimed at strengthening the water-treatment assets and expanding global market reach.

Officials at Mubadala expressed confidence in NanoH2O’s potential to address growing global water scarcity while aligning with the firm’s sustainability and decarbonisation agenda. They highlighted the strategic opportunity to deploy the company’s technology across regions with pressing desalination needs — notably in the Middle East and broader Asian markets. Glenwood’s leadership noted that NanoH2O represents a high-quality asset spun off from a major conglomerate, with significant headroom for growth through reinvestment and operational reorientation.