Acuva Technologies
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Water-treatment technology and purification systems.
02 / Acuva Technologies FAILURE REASONS
Failure factors supported by the current evidence
The bankruptcy trustee reported that Acuva Technologies could not achieve profitable operations or raise enough capital to cover its funding needs, and therefore could not meet obligations as they came due.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy
Acuva Technologies filed for bankruptcy on 19 August 2024 and was placed under a trustee; related assets were sold later that year.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
On August 19, 2024, Acuva Technologies Inc. filed an assignment in bankruptcy for the general benefit of creditors, and FTI Consulting Canada was appointed trustee in bankruptcy.
- 02
On October 22, 2024, the Supreme Court of British Columbia approved a sale and purchase agreement with Watersprint AB for the company's assets, including its patented IntenseBeam UVC LED water disinfection technology, for total proceeds of $2.8 million.
- 03
The transaction closed on December 20, 2024; Watersprint said it would continue producing the water treatment products Acuva's customers relied on and ensure a seamless transition, with some of Acuva's R&D staff joining the Watersprint team.