NEW YORK
Vital Capital (www.vital-capital.com) announced today an investment of USD $10 million in a US company, WaterHealth International (“WHI”), a global leader in providing sustainable decentralized access to clean, safe water in underserved communities around the world.
In making this investment, Vital Capital joins a group of top-tier existing investors, including the IFC, The Dow Chemical Company, The Coca-Cola Company, Acumen Fund, Tata Capital, Sail Capital Partners and others.
“We are very impressed with WHI’s beneficial outcomes in Africa and elsewhere where their business model is already providing clean drinking water to millions of people,” says Vital Capital Founding Partner Eytan Stibbe. “At the same time, it’s a company with tremendous opportunity for growth and we’re excited to be able to contribute to that and looking forward to collaborating with and supporting WHI’s operations in sub-Saharan Africa and elsewhere.”
WHI offers an innovative solution to the challenge of potable water scarcity in developing markets, based on decentralized (local or “off-grid”), low-cost and easy to maintain water purification facilities, which provide local communities with clean drinking water at affordable prices.
When these water-purification facilities, (WaterHealth Centers or WHCs), are purchased by governments, municipalities, corporations, communities or NGOs, the ownership of the WHC is awarded to the local community. WaterHealth then enters into a long-term concession, which provides WHI the exclusive rights to operate and maintain the WHC on behalf of the owner community. Using this model, WHI has already deployed over 500 WHCs in India and sub-Saharan Africa providing clean drinking water access to over 5 million underserved people.
The purified and safe water, marketed under WHI’s “Dr. Water” brand, is sold at a low price that is not only affordable for the community, but also commercially viable for sustainable WHC operations. The price is established in consultation with the local community and reflects the embedded services WHI provides (labor, laboratory tests, pumping, electricity, equipment, and chemicals needed to treat raw water). The key to the success of WHI is the low cost and world-class operations and maintenance infrastructure that WHI has built in the developing markets.
This model of community partnership and highly disciplined operations provides a platform for achieving significant scale in Africa, India and other key emerging markets. Through partnering with the WHI Team and its investor organizations, Vital Capital looks forward to contributing to accelerated growth in reaching more underserved people with this sustainable model.
About Vital Capital:
Vital Capital Fund is a $350 million private equity fund that invests in opportunities which enhance the quality of life of communities in rapidly developing nations, primarily in Sub-Saharan Africa, while also delivering attractive financial returns for investors. Vital’s primary investment interest is the development of infrastructure, as well as giving particular emphasis to education and healthcare.
About WaterHealth International:
WaterHealth International, Inc. provides innovative business solutions to one of the world’s most desperate health crises, the lack of safe, clean and affordable water for the billions of people who have little or no access to it. WHI’s award-winning water purification and disinfection technology, combined with creative and unique business approaches, enable the delivery of highly affordable, clean water to even the most remote and underserved communities. WHI invests in health and hygiene education programs as part of its normal business practices to combat waterborne diseases in the communities it serves. WHI’s website is http://www.waterhealth.com
CONTACT
Vital Capital Media Contact:
Jonah Balfour, +972-54-617-5584
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