Airwater Co., a global air-to-water technology company, on Thursday announced funding from Abu Dhabi-based venture capital firm Tau Capital.
The investment will enable Airwater Co. to scale manufacturing, infrastructure and distribution, with a focus on large commercial and industrial atmospheric water generation facilities, the company said in a media release.
Though the company did not disclose the exact amount of investment, it is learnt to be ‘significant’.
Alex Guy, Airwater Co.’s founder and CEO, said Tau Capital’s investment is a testament to a shared vision for a more sustainable future.
“Tau Capital and Airwater Co. align in many ways, from headquarters in Abu Dhabi to the spirit of innovation this region and our companies are known for,” he said.
Guy said Tau Capital’s investment will help the company to innovate and scale more rapidly.
Emphasising Airwater Co.’s commitment to technological innovation in the UAE, and its notable client base including Hilton Hotel Group, Accor Group, NEOM and ADNOC, Andrea Mollica, Managing Director at Tau Capital, described Airwater Co. as an important catalyst for change.
“Water impacts every company, employee and consumer in the world – the importance of Airwater Co.’s work and this investment goes beyond any one industry or generation. We are eager to witness the advancements the future holds,” Mollica said.
As water security concerns increase worldwide, investors, governments and companies are seeking new technologies to address challenges.
Research from CDP, a global nonprofit organisation, reported that water is now a major risk for global supply chains, with at least $77 billion under threat.
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