Water Investor’s Monthly June 2024

Water Investor’s Monthly, by Industria Partners, is a review of trends and transactions in water across the U.S., including water rights, storage, transportation infrastructure, and wastewater treatment, services, and equipment.

Chart of the Month: 

The Infrastructure Investment and Jobs Act (IIJA) provides funding to build and repair water and wastewater infrastructure. – FMI

Recent Market News:

• More than $11.5 billion in water infrastructure funding has been made available for states this year through the FY24 State Revolving Fund programs. This funding focuses on priority projects that upgrade aging water mains and pumps, address per-and polyfluoroalkyl substances (PFAS), and improve community resilience to climate impacts like flooding. – EPA
• Colorado’s demand for water is slated to surpass supplies by 2050. Nine major bills, four of which have been signed into law, aim to address this by reducing water usage in cities, protecting wetlands, and minimizing the amount of PFAS, also known as forever chemicals, leaching into water supplies. – The Denver Post
• A 10-mile water pipeline in Northern Colorado has been unanimously approved by commissioners. The decades-long planning and permitting process, including previously denied permit applications, highlights the complexity of water rights and infrastructure projects. – Coloradoan

Transactions:

• 5/30/24: Newterra acquired Carbon Service & Equipment Company (CSEC) to expand services in potable, wastewater, remediation, and industrial markets. – Frontenac
• 5/20/24: Winsupply acquired Meter Service and Supply Company, a single-location waterworks distribution company based in Memphis. – Industrial Distribution
• 5/20/24: Subeca raised a $6mm Series A to scale deployment of low-cost, easy-to-use water technology. – PR Newswire
• 5/7/24: Lumo, a connected irrigation company with patented smart-valve technology, raised $7mm from Active Impact and Fall Line Capital to fund research and development. – Lumo

Deep Dive:
‘Forever Chemicals’ (PFAS) Found to Rain Down On All Five Great Lakes – ACS

Other Media:
Advancing Hydropower Technologies to Help Achieve Clean Energy Goals – DOE
 

Industria Partners provides focused strategic advisory services to industrial, climate, infrastructure, and energy companies at every point across the business cycle. Through industry connectivity, transaction experience, and expert execution, Industria delivers superior outcomes to its clients.