IBM said EnerTech, a part of Kuwait Investment Authority, has selected the Waterfund Insight Service to prioritize its strategic water technology investments.
IBM has developed the Waterfund Insights Service, a Cloud Business Solution, to provide the ability to forecast the actual costs of water under different hydrological and financial scenarios to national and local governments.
The main benefit from making investment in Waterfund Insights Service is the financial transparency that’s required to stimulate capital investment in fresh water.
Waterfund Insight Service provides data visualization decision support service delivered on IBM Cloud, enabling water utility managers, corporate water managers and government agencies to make decisions for effective water management.
IBM said the cloud-based service provides a better understanding of the impact on local water costs from changing climate conditions, capital spending and business factors.
“Managing our water resources in Kuwait is a critical consideration and it’s important to have an understanding of the true cost of water production and to evaluate the efficacy of new water efficient technologies,” said Abdullah Al Mutairi, CEO of EnerTech Holding Company.
“Together IBM, Waterfund, and Kuwait will develop index to quantify the cost of water production, transportation and distribution and assess the cost reduction potential of emerging water efficient technologies,” said Abdullah Al Mutairi.
As part of the deal, Kuwait will be added to the Global Water Cost Index, a financial benchmark developed by Waterfund, using the big data platform developed by Waterfund and research scientists from IBM.
EnerTech will use the Waterfund Insight Service to analyze, forecast and measure the financial performance of competing new technologies that can benefit Kuwait.
Scott Rickards, CEO of Waterfund, said: “The service will be deployed throughout Kuwait so that local water managers will be able to derive realistic cost estimates as they adjust for depreciation, capital expenses, subsidies, operating and non-operating revenue, and total water produced.”