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GE CHOOSES ISRAEL’S KINROT VENTURES TO JOINTLY DEVELOP NEW WATER TECHNOLOGIES

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Monday, January 17th, 2011

“Connecting to Israel is part of our way to be on top of technological creativity and innovation, and only in doing so will we be able to progress” – Heiner Markhoff, president & chief executive, GE Water & Process Technologies.

Kinrot Ventures, the world’s first fully-dedicated water technology incubator, and General Electric (GE) recently signed a strategic collaboration agreement to help develop and commercialize innovative water technologies.

 Under the agreement, GE, through its Power & Water and Global Research businesses, will provide strategic assistance to Kinrot Ventures’ portfolio of water companies, including the screening of new technologies, and offer technical and market assistance.

GE, which entered the water industry in 1999 and is involved in a wide variety of water technologies, in the last five years doubled its investment in water technology related R&D to reach $1.5 billion in 2010. Kinrot Ventures is owned by the AquaAgro venture capital fund and is the only incubator in Israel to innovative water technologies with a portfolio of 12 water companies.