January 18th, 2011
By Andrew Winston and Will Sarni
Last week we asked, “Is Water the Next Carbon?“. Although our short answer was “no,” we believe that managing water will become a critical business skill for the 21st century. Need drives innovation, so this week we want to highlight some of what is happening in the new markets in water.
First, even large companies are carving out new niches to help businesses and communities manage water scarcity.
For example, GE’s investment in water technologies is well known, and its leadership stems from its ecomagination portfolio of products. GE not only recognizes the critical role technology plays in addressing water scarcity, it also understands the challenging interconnection between energy and water: increasingly, the world will be needing low-energy water treatment technologies.
Another major industrial company moving to address water risk is ITT, the world’s largest supplier of pumps and systems to transport, treat, and control fluids. ITT has a stake in seeing cities and companies invest in water management, but the company is discovering a relatively low level of awareness of the need.
ITT conducted a survey titled “The Value of Water” highlighting both how much water we waste and exploring the critical gap between the current price and the real value of water. We spoke with Colin Sabol, a Vice President at ITT, about the survey and ITT’s goals.