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Former New England Patriots quarterback Drew Bledsoe’s investment firm has invested $10 million in a Florida water purification technology company.
Bledsoe Capital Group, founded in 2007 by the 14-year NFL veteran and Montana attorney Chad Wold, will receive a 33 percent stake in Ecosphere Energy Services LLC, a subsidiary of Stuart, Fla., water engineering and services firm Ecosphere Technologies Inc.
Ecosphere Energy Services develops equipment for oil and gas firms to purify and recycle water used in exploration. The investment firm provided seed funding to develop a prototype and test it with energy companies.
In a statement, Bledsoe said the firm was looking for a “green” technology to invest in.
“The Ecosphere opportunity allows us to participate in conserving two of the most important natural resources we have in the world, ‘water and natural gas.’ The Ecosphere investment opportunity has exceeded all of our expectations,” he said.
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