Quench, a King of Prussia firm run by Safeguard Scientifics veteran Anthony Ibarguen, says it has raised $17 million in equity and $12.5 million in borrowed money as it builds and buys a national network of "no-bottle" office water systems.
The system uses activated charcoal, ultraviolet light and, sometimes, reverse osmosis to freshen common tapwater. It is a cheaper replacement for the familiar five-gallon jugs trucked into offices and factories.
Quench has installed 50,000 systems, including 8,000 in the Philadelphia area. Customers include Comcast Corp. and the University of Pennsylvania, said chief operating officer Todd Peterson.
