Global water technology provider Xylem Inc. has signed a deal with Israel’s national water company, Mekorot, to develop water security, supply and wastewater treatment and reuse technologies.
The deal was signed during the Watec water technology conference in Tel Aviv, Israel this week.
Xylem’s Senior Vice President and Chief Strategy and Growth Officer Colin Sabol said he could not say how much the deal was worth.
“No money changed hands in this transaction, but we think it will provide significant economic benefits to both Mekorot and to our company,” he said.
He said money may not change hands between Xylem and Mekorot, but potentially would between Xylem and technology companies that are testing inside Mekorot.
“It will help us become a better venture capital investor even though we’re a big company,” said Sabol.
Xylem and Mekorot will evaluate new water technologies and accelerate commercialization of products and services.
Under the agreement, the two organizations will jointly assess emerging technologies related to water quality and security, optimization of water supply and sustainable water and wastewater treatment and reuse.
“It’s a win-win arrangement we think -- Mekorot is going to provide technologies through their WaTech venture arm and we will be on a steering committee so we will actually be able to see those technologies and help to develop them inside of Mekorot, and when they come out we will be able to access those technologies and bring them to market,” said Sabol.
“We will be able to take Xylem technologies that we invest in with our own research dollars and put them into Mekorot to test bed them so that we can prove them out at a world class utility.
“That’s important in this market because utilities simply don’t adopt new technologies without someone else going first.
“For the Israel consumer, hopefully it means that we will get better technologies into the Mekorot system, into their desalination plants, into their water reuse systems, it should drive better quality water, more reliable water and a lower cost water,” he said.
Sabol said the Israeli government and Mekorot had done a good job in developing, from nothing, a water infrastructure system.
“The fact that every drop of water gets reused three times is fantastic and should be used around the world.”
He said Israel provided a good lesson in proper investment in water technologies and infrastructure.
“Even though there are political challenges between countries, their water professionals get together on a regular basis and share technology, and I think maybe that’s a bridge to peace in the region,” he said.
This story is brought to readers free in association with Singapore International Water Week.