EnerTech has chosen Waterfund Insight Service to strategize for and prioritize its calculated water technology investments, IBM and Waterfund LLC announced recently.
EnerTech is an entirely owned subsidiary of the National Technology Enterprises Company, which is a secondary company of Kuwait Investment Authority.
“Kuwait is more than 90 percent dependent on desalination to meet the needs of its growing population,” Abdullah Al Mutairi, CEO of EnerTech Holding Company, said. “Managing our water resources is a critical consideration and it's important to have an understanding of the true cost of water production and to evaluate the efficacy of new water efficient technologies. Together IBM, Waterfund, and Kuwait will develop a customized index to quantify the true cost of water production, transportation and distribution and assess the cost reduction potential of emerging water efficient technologies.”
Waterfund Insight Service is a cloud business solution originated by IBM and designed to allow regional and national government agencies to interpret and predict the costs of water in different financial and hydrological situations. Governments can then develop the financial transparency needed to grow capital investments in water. In addition, the service offers data delivered through IBM cloud that allows water utility mangers, government agencies and corporate water managers worldwide to make decisions for positive water management.
Considering diverse climate conditions, capital spending and unforeseen scenarios, the cloud-based service is a way for water management teams to understand the impact the environment can play on local water expenses.
“Our mission is to provide a world-class data and investment platform that helps Kuwait secure its water future with best-in-class technology solutions from around the world,” Scott Rickards, CEO of Waterfund, said. “The service will eventually be deployed throughout Kuwait so that local water managers will be able to derive realistic cost estimates as they adjust for depreciation, capital expenses, subsidies, operating and non-operating revenue, and total water produced.”
IBM and Waterfund Insight Service utilizes the Water Cost Index (WCI), a groundbreaking financial scale created by Waterfund. The service collaborated with IBM Research to compute the true cost of water manufacturing in cities that signify more than 25 percent of global GDP.
The Waterfund Insight Service will help EnerTech to analyze, predict and measure the financial performance of contending tools that can help Kuwait and the Middle East. Kuwait will join the Global Water Cost Index, as part of the agreement, utilizing the big data stage developed by Waterfund and research scientists from IBM.
“The market has demonstrated an undeniable need for the insights on water investment and production that are derived through IBM's work with Waterfund,” Jason Kelley, VP, Solutions and Design, IBM Global Business Services, said. “There is no limit to the value in strategic insights amassed from virtually endless data, derived quickly and rendered simply. This new partnership opens up the potential for new innovation based on weather data and cognitive computing capabilities, enabling Kuwait to become a hub for water innovation in the region.”