Mekorot's WaTech unit presents start-ups to IBM

Last month, IBM Israel announced a program for investing in cleantech.

Sources inform ''Globes'' that Mekorot National Water Company's WaTech - Entrepreneurship & Partnership Center for Water Technologies yesterday presented portfolio companies to IBM Israel Ltd. at its headquarters in Petah Tikva. The presentation is part of IBM Israel's program for investing in cleantech (energy and water), announced last month.

For WaTech, this is a routine presentation; it holds such meetings every few months. At the last meeting, it met with representative of General Electric Company (NYSE: GE).

WaTech manager Yossi Yaacoby said, "GE has a large interface with water in terms of products. In contrast, IBM entered the water industry from the direction of information management. We have companies engaged in this field, which is why we arranged a meeting between them and IBM."

Yaacoby added, "At the meeting, we presented CheckLight Ltd. and Genaphora Ltd., which are developing monitoring and early warning devices for various toxins; AquiLyzer Ltd., which is developing modeling software for essential hydrological parameters in wells and aquifers; Rotec Ltd., which is developing reverse osmosis technologies for the desalination of brackish water; and BacSoft Ltd., a software and hardware company that offers solutions for command and communications systems at water facilities."

"Part of our job is to create relationships with large companies, venture capital funds, strategic investors, and so forth, for our portfolio companies. The summary was positive. IBM will examine in depth the capabilities of the companies we presented," Yaacobi concluded.

Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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