Water Sustainability — Why We Invested In Wint
End Water Waste and Damage in the Built Environment.
From a real estate perspective, water leakage is akin to “death by a thousand cuts”, is hard to identify, and can come from multiple sources. These leaks can slowly destroy the value of a property from within. Along with the financial benefits WINT’s solution offers, it is also helping solve major water sustainability challenges across the globe.
Global water challenges
Water sustainability is something which is impacting our daily lives, with water shortage becoming a challenge in the developing world, and something that will only become more widespread. Up to 25% of water goes to waste, and impacts both residential and commercial units, as this is water which could be used for drinking or irrigation.
From a fiscal perspective the third most common insurance claim is water, as many reported damages are a result of water damage. As this CNN article mentions “according to the Association of British Insurers, water damage is one of the most common household property claims in the United Kingdom. On average, a burst pipe claim can cost nearly £9,000 ($13,000).”
It is not surprising that WINT was founded in Israel, as the Startup Nation has a legacy going back to its early years in developing water sustainability solutions, and that even today as a result of its location, is still at risk. Technology such as AI has helped with the development of water tech and solar panels; some of Israel’s earliest home-grown companies like Netafim invented drip irrigation. Lack of water, and understanding how to best preserve this valuable resource laid the groundwork for a company such as WINT to create this disruptive solution.
The problem to solve
While this has been a problem for some time, it all came to a head a few months ago at the COP26. Water scarcity has become not just a problem for developing countries but for the West as well. Europe recently had the worst drought in history, and major cities such as London are going to be water stressed. Also, every gallon of water we use generates carbon, adding to the challenges of global warming.
There are two major problems that WINT is looking to solve; water sustainability, and preventing water damage in buildings.
When reducing a carbon footprint, water is energy, and every cubic meter of water generates 10–15 units of carbon emissions. In the context of carbon emissions, small steps such as stopping a leaking toilet are akin to taking a car off the road. In the US, water damage is a 13-billion-dollar a year problem (50 billion dollars worldwide) and encompasses both commercial and residential properties. 25% of water is wasted, and it’s impossible to figure out where it’s coming from, as it’s often leaking from different sources.
As an example, 12% of US energy consumption is water, and for some US municipalities the water bill is the single highest water bill. As this article states on the losses related to leakage:
“Leaks that go unrepaired can result in significant losses. A tap leaking just once every 6 seconds can discharge almost 100 liters in a month. In a review of water company performance published in 2019, it was reported that 3.17 billion liters of water leaks from the water distribution network every day in England and Wales.”
The team
WINT is led by seasoned entrepreneurs and business professionals such as CEO Alon Geva, and CTO Yaron Dycian. In 2018, Alon and Yaron rebooted the company and have been running it ever since. Alon, the CEO, has significant experience in tech and has worked at organizations such as Comverse, and Akami, in leadership roles in both business development and sales. Yaron has been in Israeli tech for over 30 years, with a number of interesting junctions along the way.
It’s the leadership teams’ combination of professional experience, both in startup and corporate settings, as well as their comprehensive technical expertise which have propelled WINT’s success.
The solution
WINT places water flow meters (they’re usually less than $100) along with a valve at critical points in the buildings. The unit reads and processes the water flow, learns what is normal for the location, and if it identifies any anomalies, shuts off the valve.
While there are similar solutions for homes, WINT is the only one for office buildings, which have many different water systems. Not many enterprises are able to deploy such powerful AI. This creates scale where building owners can put their investment towards, save money, and help the environment by reducing a carbon footprint.
Yaron best summarizes the opportunity and the global challenge WINT is working to solve: “I was excited to join this company as it’s working in a huge underserved market. Every building in the world needs a solution like this, and no one is serving them.”
And that “you’re not only helping customers save money, but also helping the world from an ecological perspective.”
We’re excited to welcome WINT to the ICT family, and to partner with them as they grow and expand into new global markets.
Maya Goren Bar, General Manager ICT
