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Xylem Expands Corporate Venture Capital Investments to $50M, Targeting Water Scarcity, Quality, and Decarbonization

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Global water technology leader Xylem (NYSE: XYL) is expanding its corporate venture investing plans with $50 million committed to support emerging companies and water services providers that solve critical climate challenges such as water scarcity, quality, and decarbonization.

Xylem aims to accelerate the availability of water solutions to address these challenges by directly investing in startups developing disruptive water technologies, and by investing in specialty venture capital funds. These investments are focused on companies developing cutting-edge solutions that support Xylem’s growth priorities, including advanced treatment, digital technology, and services to help manage complex water systems.

“As water scarcity intensifies and demand grows, the need for innovative thinking has never been more acute,” said Sivan Zamir, Vice President, Xylem Innovation Labs. “Entrepreneurial founders and disruptive new technologies can be important sources of solutions to tackle some of the world’s greatest water challenges. By collaborating with a broad network of partners, including venture capital firms and startups, we believe that we can bring essential innovations to market at speed and scale.”

Xylem’s expanded corporate venture capital framework builds on the success of existing partnerships. In 2022, Xylem invested a combined $20 million in Burnt Island Ventures, which targets early-stage water innovation, and The Westly Group, which focuses on energy, industry 4.0, and cybersecurity. (See 2022 announcement.) The framework also includes continuous evaluation of new investments in targeted venture capital funds, as well as minority investments in start-up companies.

About Xylem

Xylem (XYL) is a leading global water technology company committed to solving the world’s critical water challenges with innovation and expertise. Our 23,000 diverse employees delivered combined pro forma revenue of $8.1 billion in 2023. We are creating a more sustainable world by enabling our customers to optimize water and resource management and helping communities in more than 150 countries become water-secure. Join us at www.xylem.com and Let’s Solve Water.

Forward-looking statements

This press release contains “forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” "contemplate," "predict," “forecast,” “likely,” “believe,” “target,” “will,” “could,” “would,” “should,” "potential," "may" and similar expressions or their negative, may, but are not necessary to, identify forward-looking statements. By their nature, forward-looking statements address uncertain matters and include any statements that: are not historical, such as statements about our strategy, financial plans, outlook, objectives, plans, intentions or goals (including those related to our social, environmental and other sustainability goals); or address possible or future results of operations or financial performance, including statements relating to orders, revenues, operating margins and earnings per share growth.

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include, among others, factors set forth under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings we make with the Securities and Exchange Commission. Readers of this press release are cautioned not to rely on any forward-looking statements since there can be no assurance that forward-looking statements will prove to be accurate. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240710808417/en/

Contacts

Houston Spencer
+1 (914) 323-5723
Houston.Spencer@xylem.com

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