A cheap, in-home water filter that only cleans the water you’re about to use. Fresh water is so valuable that many have estimated its investment
potential to be more than $500 billion, with some predicting it will grow to $1 trillion by 2020.
Hoping to capitalize on the opportunity while making a difference to
some of the places that most need it, investment strategist Kevin McGovern founded The Water Initiative.
Rather than spending vast amounts of money and chemicals to clean water
that would only get dirty before it hit people’s taps, he thought, why
not filter it right at the tap itself? After all, the closer to people’s
mouths water was filtered, the less likely they’d be to contract
waterborne diseases.
McGovern brought together materials science researchers and water
experts from around the world to create “point-of-use” filters that
remove the biggest health threats (such as pathogens, arsenic, fluoride,
and other chemicals). The result is a freestanding water cooler that
looks just like the kind in your home or office break room, and that can
be hooked up to a kitchen tap or other supply pipe to provide quality
water when and where it’s needed.
With the cooperation of Mexico’s national water commission, the
company studied 20 different communities and has rolled out a
distribution network that employs local residents. The country was so
impressed that they installed the filters in government buildings across
Mexico, and subsidized the units, purchasing them in bulk, for use in
the neediest areas of the country. Previously, residents in areas with
unpotable water had to pick up large carboys of drinking water a few
times a week and drag them home. For about the same cost as the carboys
and far less effort, they can now get a “Watercura” filtration cooler.
The Water Initiative has been working with home and community
developers to install the filters in hospitals and schools, and has
employed hundreds of micro-entrepreneurs to sell the filters directly to
consumers. Now, after their success in Mexico, the company is looking
to move into the rest of Latin America and have recently started
operations in Saudi Arabia.
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