Arison's water tech venture invests in Israeli start-up

Shari Arison begins venture capital investments in hydro-tech.

Sources inform ''Globes'' that Shari Arison's water technology fund has made its second investment: a $250,000 venture capital investment in StreamControl Ltd. StreamControl develops a comprehensive solution for leakage reduction by pressure management. The device is an electronic controller, which integrates hardware, software and hydraulics that can cut loss of water by up to 50% in municipal water supply systems.

StreamControl has a prototype that has been shown to be technologically feasible. The company was founded in 2003 at the Yozmot Granot Initiative Center. The company's product can read water consumption at the street and neighborhood level, and direct water pressure accordingly.

Both Arison's water technology fund and StreamControl declined to comment on the report.

Arison's first investment was a $30-40 million purchase of water valve manufacturer Dorot Water Technologies Ltd., which reportedly has tens of millions of dollars in annual turnover.

In general, few investments to date in Israeli cleantech can be described as venture capital investment, underscoring the importance of Arison's investment.

Published by Globes [online], Israel business news - www.globes-online.com - on January 9, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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