Waterfund Signs Agreement With IBM to Develop Water Cost Index

Waterfund LLC, which provides financial risk management to the water industry, signed an agreement with International Business Machines Corp. to develop a water cost index. Terms weren’t disclosed.

“Our initiative with IBM Research will finally bring real financial transparency to the water sector,” Chief Executive Officer Scott Rickards said today in a statement. By calculating the unsubsidized cost of freshwater production using IBM analytics, New York-based Waterfund can offer “flexibly-tailored financial tools to investors in water infrastructure.”