Jordan Valley-based Kinrot Technology Ventures today announced that it has achieved the ambitious goal set by its CEO, Assaf Barnea, six months ago in an interview with "Globes" to have ten water ventures operating at the incubator by the end of the year. After a difficult privatization, Kinrot is owned by Canada's Stern Group, one of the world's leading investors in water technologies.
In the 18 months since Kinrot began to stabilize, it has invested over $5 million in ten water ventures, as well as in two other cleantech ventures launched earlier. The incubator has also rebranded and renamed itself with the goal of attracting international investors and entrepreneurs.
Barnea is attributed with these measures since taking up his post 18 months ago. "To the best of my knowledge, there is currently no other any other seed and early stage investor with such a diversified portfolio of new water projects," he told "Globes". "Kinrot has been able to position itself in the global water market within a very short time as Israel's water incubator. The next stage, as far as we're concerned, is to become a platform for similar ventures overseas."
Kinrot's portfolio of new ventures include HydroSpin Ltd., which is developing a proprietary micro-generator that generates electricity from the water flow in pipes to power monitoring and control systems; Cooltek2GO Ltd., which is developing a personal on-demand instant water cooling or heating without the use of an external power source; TACount Ltd., which is developing a near real-time sensor for detection of reproducible microorganisms; Kolmir Water Technologies Ltd., which is developing ultrasonic water and wastewater treatment solutions; Aquarius Spectrum Ltd., which is developing municipal leak detection solutions; Aqua Digital Ltd. which is developing digital flow meter solutions; Evina Ltd., which is developing biological solution for cyanoric acid accumulation in swimming pools; and Diffusionair Ltd., which is developing a water and waste water aeration technology.
Published by Globes [online], Israel business news - www.globes-online.com - on October 7, 2009
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