April 12, 2017 / 8:09 AM / 2 years ago

Skype founder Zennstrom invests in water-saving shower company Orbital Systems

FILE PHOTO - Niklas Zennstrom, co-founder and former CEO at Skype, speaks during the "Slush" event at Kaapelitehdas in Helsinki, November 13, 2013. REUTERS/Roni Rekomaa/Lehtikuva

STOCKHOLM (Reuters) - Orbital Systems, which makes water-saving showers, said on Wednesday it had raised 15 million pounds ($18.7 million) from a group of investors including its board member Niklas Zennstrom, co-founder of Skype, to finance its expansion plans.

Founded five years ago by Chief Executive Mehrdad Mahdjoubi, who initially developed its water-recycling technique for NASA’s Mars mission project, the company said its investors also included fashion retailer H&M’s (HMb.ST) Chief Executive Karl-Johan Persson.

Sweden-based Orbital has so far raised a total of 25 million pounds from backers including former Tesla (TSLA.O) executive Peter Carlsson, also a board member.

It says its shower, which via a built-in purification system reuses the same batch of water over and over again, enables water savings of 90 percent compared with a conventional shower.

“For our next growth phase we’ll focus on getting Orbital showers into every home that wants to save on ... water, energy and money,” Mahdjoubi said in a statement.

($1 = 0.8043 pounds)

Reporting by Helena Soderpalm; Editing by Anna Ringstrom and David Holmes

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