US-listed industrial conglomerate General Electric (GE) has agreed to help bring to market the portfolio companies of Israel-based venture capital (VC) firm Kinrot Ventures.
Through GE’s Power & Water and Global Research businesses, the company will provide assistance to Kinrot Ventures’ portfolio of water companies, including the screening of new technologies and offering technical and market assistance, and allow the VC firm access to its in-house research. Steven Kloos, advanced technologies leader – water & process technologies for GE Power & Water, also will serve on Kinrot’s advisory board.
Heiner Markhoff, executive president of water and process technologies for GE Power & Water, said: "Kinrot Ventures is one of the world’s leading venture capital firms focusing on water. GE’s Water & Process Technologies business is ‘open for innovation’ and our collaboration with Kinrot Ventures reaffirms our position of being an industry leading water technology provider today and in the future."
Assaf Barnea, chief executive of Kinrot Ventures, said: "Our joint ventures with Israel’s national water company, Mekorot; the Milwaukee Water Council in Wisconsin; and now with GE, are creating a network of local and international connections that are so important for the development and initial installation of these new technologies and for contributing to the establishment of future water technologies for the local and global markets."