Temasek contributes to US$100m water innovation fund as cornerstone investor
INVESTMENT firm Emerald Technology Ventures announced on Wednesday that it closed a US$100 million water innovation impact fund, with Singapore state investment firm Temasek contributing as a cornerstone investor, alongside strategic investors SKion Water, Ecolab and Microsoft.
The fund will invest in early- to expansion-stage companies globally, to support the development of technologies that address global challenges as identified within the United Nations Sustainable Development Goals. These include conserving water resources, supporting solutions for sustainable and resilient cities, improving resource efficiency, adapting to climate change, reducing health risks and stimulating innovation and economic growth.
Helge Daebel, a partner at Emerald and who leads its water activities, said: "As a trusted and value-adding partner, we facilitate collaborations on strategic innovation with global partners and customers. With the closing of this fund, we look forward to continuing to drive the water sector forward by utilising our proven partnership model for the most innovative water companies."
Ecolab president and chief operating officer Christophe Beck noted that with the demand for fresh water expected to outpace available supply by 40 per cent in under 10 years, new innovations will be needed to reduce consumption and balance supply and demand for the resource. He said: "The Emerald water impact fund will support and accelerate innovations in the water sector more quickly to help solve this pressing global challenge."
SOURCE BUSINESS TIMES