Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Hutchison Water to Spend 100 Million Shekels in Israel Incubator

Nov. 12 (Bloomberg) -- Hutchison Water, a unit of Hong Kong-based Hutchison Whampoa Ltd., bought an Israeli incubator known as Kinrot Venture and plans to invest 100 million shekels ($25 million) in it during the next eight years.

Kinrot, founded in 1993 as part of the government’s push to encourage innovation, holds more than 10 companies focused in water and clean-technology development. Hutchison bought the company through an Israeli unit from Aqua Agro Fund LP, which owned the incubator since 2010, according to an e-mailed statement.

Israel has several companies in the water industry, since the country has limited natural water resources and has seen municipal water demands rise three-fold since 1970.

Israel’s water reserves have been depeleted by six years of below-average rainful. The nation plans in the next 40 years to spend about $58 billion upgrading “what is already one of the world’s most advanced water-management programs,” according to Alasdair Wilson, an analyst at Bloomberg New Energy Finance.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer3@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.