RYE BROOK, NY, (April 11, 2022 Xylem release) – World water technological innovation business Xylem has announced minimal associate investments in undertaking cash funds Burnt Island Ventures and The Westly Group’s Resources III and IV, supporting the development of ground breaking drinking water and industrial technologies. The merged $20 million investment decision throughout equally money types a vital part of Xylem’s external innovation method, Xylem Innovation Labs. These investments bolster Xylem Innovation Labs’ open innovation network and its determination to bringing the most critical h2o engineering innovations to market at speed and scale.
Xylem’s posture in Burnt Island Ventures, centered on supporting early-stage h2o innovation, is complemented by The Westly Group’s emphasis on energy, Business 4. and cybersecurity. Collectively, Xylem will have a world look at and early visibility of systems across the water price chain, including digital answers, that are on the route to technological and professional results.
David Flinton, main innovation, know-how and merchandise officer at Xylem, stated, “A vital aspect of Xylem’s innovation ecosystem is investing in early-stage know-how, whether made in-dwelling, or by promising external business owners and innovators. Our team, Xylem Innovation Labs, is performing intently with our colleagues at Burnt Island Ventures and The Westly Team to nurture and scale disruptive strategies in the drinking water industry. As a leader in developing break-as a result of drinking water tech innovations, we know that collaborating with a broad network of companions, such as undertaking funds corporations and get started-ups, is important to the potential of optimizing h2o management.”
Tom Ferguson, founder and taking care of partner, Burnt Island Ventures, and former VP of Consider H2O, the primary drinking water innovation accelerator and ecosystem for h2o business people, explained “It’s been an complete enjoyment working with the Xylem workforce in excess of the years, and they are an vital spouse as we build the seed fund of preference for drinking water business owners, globally. Their expenditure, by way of Xylem Innovation Labs, is a reflection of how very seriously the company normally takes the operate of supporting the new frontier of drinking water technologies.”
Steve Westly, founder and running partner of The Westly Team mentioned, “There is a international revolution and convergence of energy, drinking water, buildings and IoT, unlocking potent possibilities for investment. We’re proud to husband or wife with Xylem to establish new technologies to greater serve the world’s h2o wants.”
Xylem Innovation Labs identifies and leverages the upcoming generation of technologies and trends in guidance of Xylem’s mission to make a water-secure world. With a world existence, the application supports commence-ups by fast-tracking engineering progress and leveraging Xylem’s sources to accelerate new improvements to market place.
Xylem is a top world h2o know-how enterprise dedicated to solving critical h2o and infrastructure issues with innovation. Our 17,000 diverse workers shipped income of $5.2 billion in 2021. We are developing a much more sustainable entire world by enabling our consumers to optimize water and source administration, and helping communities in additional than 150 international locations turn out to be water-secure. Sign up for us at www.xylem.com.