Aquatech and Upwell Water Create Joint Venture to Enable Water Treatment at No Upfront Customer Cost
CANONSBURG, Pa., June 10, 2021 /PRNewswire/ -- Aquatech International, a leader in water technology and services, announced the launch of its joint venture with Upwell Water. The new platform enables Aquatech to provide customers with all-in-one water treatment and service, integrating Aquatech's best-in-class technology and operations, with no upfront customer cost.
Aquatech, through its AQUIOS (Aquatech - Upwell Infrastructure Outsourcing) platform, will provide a spectrum of outsourced solutions, from water and energy purchase agreements to the leasing and rental of mobile and decentralized treatment plants, with the ultimate objective of reducing the cost and risk of water operations while helping customers meet their sustainability targets. AQUIOS will also acquire and retrofit existing facilities to improve operating performance.
"The need for having long-term reliability, particularly as waters become more complex and difficult to treat, is paramount. Our partnership with Upwell will allow us to offer Water Technology as a Service, providing a compelling solution to meet critical treatment needs with an accountable partner delivering a predictable cost of water operations and peace of mind to our customers," said Devesh Sharma, Managing Director of Aquatech. "Our customers get what they need – reliability of water treatment and payment over time as they would for any utility service, but with a holistic approach integrating plant design and long-term operational service from a single provider. That makes getting better water treatment simple."
"Aquatech has been a global leader in treating water and wastewater for decades," said Chris Morrison, Operating Partner, Upwell Water. "Aquatech's technology, customer success record and water treatment operating expertise offer customers elite water treatment services. Now, with Upwell Water, Aquatech can offer true outsourced water treatment with no upfront cost to Aquatech's clients."
Aquatech anticipates deploying capital to support over $500 million USD of water infrastructure through AQUIOS to help customers improve water and wastewater treatment over the next few years. Capstone Partners advised Aquatech on the transaction.
About Aquatech
Aquatech is a global leader in water technology and services for industrial and infrastructure markets. With a focus on solving water scarcity through desalination, water reuse, and zero liquid discharge (ZLD), Aquatech has executed over 2,000 projects across 60 countries. Leveraging the experience and knowhow gained over 40 years handling some of the most difficult to treat waters, Aquatech helps the world's most recognized companies reduce their water and carbon footprint, ultimately reducing water risk. For more Aquatech news and information, visit www.aquatech.com.
About Upwell
Upwell Water (www.water.llc) is the leading technology-enabled water asset company. Upwell Water owns operating and new-build water assets, focusing on managing a drop of water from its source through treatment and efficient use. The firm aims to ensure a sustainable water future by eliminating capital barriers to the adoption of water solutions, and anticipates deploying $1 billion USD in near-term capital.
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