The water utility owns the pipes and sends the bill to your house. But they don't build the pumps, membranes, or UV lamps that actually clean the water — they buy those from a different group of companies. This is the "picks and shovels" of the water world: the technology that actually cleans and moves the water. It's a market worth hundreds of billions of dollars a year, growing on PFAS "forever chemical" rules, water recycling, and desalination — and unlike utilities, it isn't price-regulated, so it can profit from innovation.
Badger Meter Launches OneNetwork Platform at WEFTEC
Badger Meter launched OneNetwork, a real-time monitoring and analytics platform designed to unify fragmented water and wastewater system data, at the WEFTEC conference in New Orleans. The company's share price has fallen 27.6% year to date, with a 1 year total shareholder return down 28.6%, though the 5 year total shareholder return of 26.6% still points to longer term gains. The most followed narrative places Badger Meter's fair value at $169, above the last close of $127.77, framing OneNetwork as part of a wider digital push alongside the BlueEdge platform and expansion beyond the meter. That narrative cites intensifying water scarcity, mounting regulatory pressure, and mandates for real-time monitoring as drivers of shorter replacement cycles and pricing power. Supply chain and tariff pressures, along with any slowdown in core utility water projects, could weaken that upbeat case.
Veralto Water Quality Margin Rises to 26.5% as Sales Climb 10.1%
Veralto Corporation's Water Quality segment lifted its adjusted operating margin to 26.5% from 25.9%, with adjusted operating profit up 12.6% year over year to $241 million. Water Quality sales rose 10.1% year over year to $908 million, including core growth of 5.7%, a 2.9% pricing contribution, 3.2% from acquisitions and a 1.2% currency benefit. Operating profit grew faster than sales, a relationship the company says could lift the segment's contribution to its overall financial profile if sustained. Veralto faces water technology peers Xylem and Watts Water Technologies as infrastructure spending and tighter water-efficiency requirements expand the market. The key factor to watch is whether Water Quality can hold its margin trajectory while preserving healthy organic demand.
Pentair Completes $1.4 Billion Acquisition of Taco Group Holdings
Pentair plc has completed its acquisition of Taco Group Holdings for $1.4 billion, subject to customary adjustments. The deal is expected to accelerate Pentair's growth strategy and expand its portfolio of smart, sustainable water solutions aligned to secular water trends. Taco will become part of Pentair's Water Solutions reporting segment and will continue to go to market under the Taco brand, maintaining a significant presence in Cranston, Rhode Island. Pentair President and CEO John L. Stauch said adding Taco provides a comprehensive suite of premier solutions and scales the company's position in high-growth commercial and mission-critical end-markets. Taco LLC Chief Executive Officer and Owner John Hazen White Jr. called the closing an exciting new chapter, and Taco LLC President Benjamin White said the milestone recognizes the value customers and the team experience every day. Pentair had revenue in 2025 of approximately $4.2 billion and trades under the ticker symbol PNR.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Competition
PNR · Capital · Positive Pentair completed its $1.4B acquisition of Taco Group Holdings, expanding its water solutions portfolio and growth strategy.
Taco Group Holdings · Capital · Positive Taco Group Holdings was acquired by Pentair for $1.4 billion, becoming part of Pentair's Water Solutions segment.
Captiva Verde to Build First Atmospheric Water Stations for Ritz-Carlton Amelia Island
Captiva Verde Corp. announced an agreement to launch the first atmospheric water stations for The Ritz-Carlton, Amelia Island, with an operational effective date scheduled for October 26 or earlier. The terms of the agreement are confidential. The Ritz-Carlton Hotel Company is a wholly-owned subsidiary of Marriott International, which has approximately 10,000 properties in 146 countries and territories. Captiva Verde said its largest water stations, capable of up to 10,000 gallons per day, will be constructed globally at a fraction of the cost of traditional infrastructure upgrades, producing pure, plastic-free water on location. The company added that it is also building water stations for governments and bottling companies, with more news to follow.
Climate Adaptation & Water › Water Treatment & Flow Technology Supply
Captiva Verde Corp. · Demand · Positive Captiva Verde signed an agreement to build and launch its first atmospheric water stations for The Ritz-Carlton, Amelia Island, a concrete customer order.
Claros and Daikin America Sign Commercial Deal for Full-Scale PFAS Destruction at Decatur Plant
Claros Technologies and Daikin America announced a commercial agreement for full-scale deployment of the ClarosTechUV PFAS destruction system at Daikin's manufacturing facility in Decatur, Alabama. The large-scale, long-term installation will integrate the technology directly into Daikin's manufacturing operations as a continuously operating PFAS destruction system engineered for industrial-scale performance, following a multi-phase collaboration that moved from pilot demonstration to commercial optimization. The deployment will combine permanent PFAS destruction through ClarosTechUV with continuous analytical testing and performance verification through ClarosLabs, and will be incorporated into broader facility improvements underway at Daikin's Decatur campus over the next few years. The agreement extends beyond a single installation, establishing a long-term strategic relationship and creating opportunities to evaluate additional applications for ClarosTechUV across Daikin's global operations. Daikin America CEO Yuichi Hashikawa said the partnership demonstrates that it is possible to be a responsible manufacturer while providing materials essential to today's society, while Claros CEO and Co-Founder Michelle Bellanca called it the defining commercial achievement in Claros' history and a turning point for the entire industry.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Technology
Claros Technologies · Demand · Positive Claros secures a commercial agreement for full-scale deployment of its ClarosTechUV PFAS destruction system at Daikin's Decatur facility, its defining commercial achievement.
6367.JP · Regulation · Positive Daikin America signs commercial deal to deploy full-scale PFAS destruction at its Decatur plant, addressing PFAS regulatory/environmental compliance.
Hawkins Completes Eagle Labs Buyout, Expands Texas Water Treatment
Hawkins, Inc. has completed the acquisition of the assets of Eagle Labs, Inc., expanding its Water Treatment business into the Dallas–Fort Worth region of Texas. Eagle Labs distributes water treatment products directly to customers in Texas and has in-house manufacturing capabilities. The acquisition adds two locations in the Dallas–Fort Worth area, increasing Hawkins' total Water Treatment facilities in Texas to seven; Hawkins first entered the Texas market in fiscal 2022. According to Hawkins, Eagle Labs brings expertise in coagulants and polymers, along with a customer service model that complements Hawkins' existing Water Treatment operations in the state, and has served North Texas and surrounding areas for more than 30 years. Hawkins has also opened a new facility in the Dallas–Fort Worth area, which the company expects, together with the acquired Eagle Labs operations, to strengthen its ability to serve water treatment demand across the region.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Supply
Climate Adaptation & Water › Water Utilities & Infrastructure ▲Supply
HWKN · Capital · Positive Hawkins completed the acquisition of Eagle Labs assets, expanding its Water Treatment business into the Dallas–Fort Worth region
Eagle Labs, Inc. · Capital · Positive Eagle Labs' assets were acquired by Hawkins, with its coagulants/polymers expertise and North Texas operations being integrated
Zero Liquid Discharge Systems Market to Reach $13.65 Billion by 2031
The global zero liquid discharge systems market is projected to grow from USD 9.15 billion in 2026 to USD 13.65 billion by 2031, an 8.3% compound annual growth rate, according to a new report added to ResearchAndMarkets.com's offering. Growth is driven by stringent environmental regulations, rising water scarcity, industrial water reuse requirements, and investment in advanced wastewater treatment infrastructure. Hybrid ZLD systems, which combine membrane technologies such as reverse osmosis with thermal evaporation and crystallization, are expected to generate significant opportunities by improving water recovery while cutting energy consumption and operating costs. Pharmaceuticals are projected to be the fastest-growing end-use segment by value, while filtration is forecast as the second-fastest-growing process segment, and the Middle East & Africa is the second-fastest-growing regional market. The report profiles leading participants including Alfa Laval, Veolia, Aquatech, GEA Group, Thermax, Mitsubishi Chemical, and Andritz.
FLE says municipalities and private sector rush to stock up on water pumps ahead of floods, expanding its base to housing estates and golf courses
Panu Chokapirat, Chief Executive Officer of Frontline Engineering Public Company Limited, or FLE, said that heavy rain and flooding in many areas have led relevant agencies to place greater emphasis on preparing flood prevention and drainage systems, especially the procurement of pumping equipment that can be deployed immediately in an emergency, a factor supporting future demand for water pumps and water management systems. Panu said that many local administrative organizations and municipalities have begun procuring their own pumping equipment to increase their flexibility in assisting the public, while the private sector, especially large housing estate projects and golf courses, is starting to take an interest in designing proactive flood prevention systems to reduce risks to property and operations. The company therefore sees an opportunity to expand its customer base from its previous focus on government projects to the private sector, using a One Stop Service approach through partnerships with allies, with the water pump rental business being one of the businesses the company aims to expand. At the same time, FLE also has an innovation in the form of a mobile pumping vehicle for handling emergency situations, which was used in relief and recovery missions during the past Hat Yai flood event, and it is in the process of developing a robotic water pump that can move into flooded areas and pump water by itself, as well as move down as the water level recedes to keep drainage continuous, reducing limitations in reaching areas where large machinery or personnel have difficulty operating.
Frontline Engineering · Demand · Positive Municipalities and private sector (housing estates, golf courses) rush to procure water pumps and flood-prevention systems, expanding FLE's customer base and supporting future demand.
Frontline Engineering · Technology · Positive FLE is developing a robotic water pump and already deploys a mobile pumping vehicle for emergency flood relief.
LACROIX H1 2026 Revenue Up 3.2% to €235.2m, Raises 2026 Targets
LACROIX reported first-half 2026 revenue of €235.2m, up 3.2% year on year, with current EBITDA of €23.7m, a 10.1% margin, and positive free cash flow of €11.1m. The Group's Electronics activity generated revenue of €156.1m, down 1.1%, while the Environment activity posted revenue of €79.1m, up 12.8%, driven by a cyclical peak in the Water segment tied to Spain's PERTE programme deadline and France's 2G and 3G network shutdown. Current operating profit rose 62.4% to €17.3m and operating profit climbed 81.4% to €17.1m, while net income attributable to owners of the parent was €2.7m, compared with a net loss of €19.6m a year earlier. Net debt fell 28.6% year on year to €72m, cutting gearing to 77% from 88%. LACROIX raised its 2026 targets to revenue of more than €455m and an EBITDA margin of more than 9%, with net debt/EBITDA below 2.0x, and confirmed its 2027 targets of revenue between €475m and €500m, an EBITDA margin above 8%, and net debt/EBITDA below 2.0x.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
LACR.PA · Capital · Positive H1 2026 revenue rose 3.2% to €235.2m with EBITDA margin 10.1%, net income €2.7m vs prior-year loss, net debt down 28.6%, and raised 2026 targets.
Mitsubishi Kakoki and Tsukishima HD to Integrate Management in April 2027 via Share Exchange
Tsukishima Holdings and Mitsubishi Kakoki, both engaged in water treatment and industrial machinery plants, announced on the 30th that they will integrate their management on April 1, 2027. They will establish a joint holding company, Mitsubishi Tsukishima Kakoki Holdings. Through a share exchange, Mitsubishi Kakoki will acquire all shares of Tsukishima HD, and Tsukishima Holdings is scheduled to be delisted on March 30, 2027. The share exchange ratio is 1 to 0.88, with 0.88 Mitsubishi Kakoki shares allotted for each Tsukishima Holdings share. Tsukishima HD also announced that it will carry out a buyback of up to 1 million shares, equivalent to 2.5% of its issued shares, for up to 3 billion yen. The acquisition period runs from October 5 to March 19, 2027, and the acquired shares will be cancelled immediately before Mitsubishi Kakoki acquires the Tsukishima HD shares.
Climate Adaptation & Water › Water Treatment & Flow Technology Capital
6331.JP · Capital · Positive Mitsubishi Kakoki will acquire all Tsukishima HD shares via share exchange to form a joint holding company, consolidating the business under its umbrella.
6332.JP · Capital · Positive Tsukishima HD will be acquired by Mitsubishi Kakoki in a share exchange at 0.88 ratio and also announced a buyback of up to 1 million shares (2.5%) for up to 3 billion yen.
FLE expands private-sector customer base with flood-response pumping system contracts
Panu Chokapirat, Chief Executive Officer of Frontline Engineering Public Company Limited, or FLE, disclosed that heavy rainfall and flooding in many areas have made relevant agencies more aware of the importance of preparing flood prevention and drainage systems, especially the procurement of pumping equipment that can be deployed immediately in emergency situations, a factor supporting future demand for pumps and water management systems. The company is monitoring the flood situation and sending teams on site to provide technical support to pumping station projects in several areas that are strategic to water diversion and drainage, while assessing demand for pumping systems for post-flood recovery. Meanwhile, many local administrative organizations and municipalities are beginning to place greater emphasis on procuring their own pumping equipment. At the same time, the private sector, especially large housing estate projects and golf courses, is showing growing interest in proactive flood prevention system design. Panu said FLE sees an opportunity to expand its customer base from its previous focus on government projects toward the private sector, using a One Stop Service approach through partnerships with allies. The pump rental business is one of the businesses the company aims to expand. FLE also has an innovation in the form of mobile pumping trucks for emergency response, which were used in relief and recovery missions during the previous Hat Yai flood event. The company places importance on continuously developing water management technology, with mobile pumping trucks able to move quickly into areas that need accelerated drainage, such as underpass tunnels, basement areas, and locations hit by sudden flash flooding. It has also developed a robotic form of pump that can move into flooded areas and operate on its own to pump water, as well as follow the receding water level to keep drainage going continuously.
Frontline Engineering · Demand · Positive Flooding awareness drives procurement of pumping equipment and FLE sees opportunity to expand its customer base into the private sector with pump rentals and water management systems.
Liantai Environmental Protection to sell 100% stakes in Hunan Liantai and Shantou Liantai for 1.611 billion yuan
Liantai Environmental Protection announced that it plans to transfer its 100% equity interests in Hunan Liantai and Shantou Liantai to Shangshi Zhejie, with the counterparty paying in cash. Under the equity transfer agreement signed by both parties on September 29, 2026, the transfer price for Shantou Liantai is 590 million yuan, and for Hunan Liantai is 1.021 billion yuan, totaling 1.611 billion yuan. After the transaction, the listed company will no longer hold 100% equity in Hunan Liantai or Shantou Liantai, but will retain partial stakes in Shantou Liantai's controlled subsidiaries, including 40% of Sunan Water, 40% of Subei Water, 39.50% of Xinxi Water, 39% of Chenghai Water, 39% of Guanbu Water, 39% of Chaoying Water, 15% of Chaohai Water, and 15% of Chengxi Water. The transaction constitutes a major asset restructuring, but does not constitute a related-party transaction or a reverse merger. The company said the deal will help resolve liquidity and debt repayment risks, reduce accounts receivable, and optimize the asset-liability structure, while its main business remains urban and rural domestic sewage treatment.
Climate Adaptation & Water › Water Treatment & Flow Technology Capital
603797.CG · Capital · Positive Liantai Environmental Protection is selling 100% stakes in Hunan Liantai and Shantou Liantai for 1.611 billion yuan, a major asset restructuring that will help resolve liquidity and debt repayment risks and optimize its asset-liability structure.
Hunan Liantai Environmental Protection Co., Ltd. · Capital · Neutral Hunan Liantai is being sold for 1.021 billion yuan as part of the restructuring, but the article does not specify the standalone impact on Hunan Liantai.
Shantou Liantai Water Co., Ltd. · Capital · Neutral Shantou Liantai is being sold for 590 million yuan, but the listed company will retain partial stakes in its controlled subsidiaries, making the net impact on Shantou Liantai itself unclear.
Guanzhong Ecology-led consortium pre-wins Boshan District sewage treatment project with bid of 104 million yuan
Guanzhong Ecology announced on September 29 that the company, as the lead member of a consortium with Hubei Dingya Construction Group Co., Ltd. and Zibo Water Conservancy Survey and Design Institute Co., Ltd., has been pre-selected as the winner of the Boshan District urban domestic sewage collection, treatment and resource utilization project, namely the second phase of the Xiaofu River comprehensive improvement project in Boshan District, with a bid price of 104 million yuan.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
Climate Adaptation & Water › Regulated Water & Wastewater Utilities ▲Demand
Hubei Dingya Construction Group Co., Ltd. · Demand · Positive Named consortium member on the pre-won 104 million yuan Boshan sewage treatment project bid
Zibo Water Conservancy Survey and Design Institute Co., Ltd. · Demand · Positive Named consortium member on the pre-won 104 million yuan Boshan sewage treatment project bid
Xylem to Buy Cornell and Roper Pumps in $1.46 Billion Indicor Deal
Xylem Inc. agreed in August 2026 to acquire the Cornell Pump and Roper Pump businesses from Indicor in a $1.46 billion deal, a purchase expected to broaden its specialized pumping solutions portfolio and its reach across industrial and municipal end markets, with closing targeted for the fourth quarter. The move follows the July 2026 completion of the TriOS acquisition for approximately €190 million, which added optical sensing and water-quality monitoring technology to Xylem's Measurement & Control Solutions portfolio. In second-quarter 2026, orders in the Water Solutions and Services segment climbed 147% organically to $1.45 billion, driven by an approximately $850 million, 23-year outsourced water contract, the largest in company history, while Applied Water organic revenues rose 3% and orders increased 9% and Measurement & Control Solutions orders rose 2% organically. Xylem expects full-year revenue growth of about 2% on a reported basis and 2-3% organically, and in the first six months of 2026 it paid $207 million in dividends and repurchased $1.24 billion of shares, after raising its quarterly dividend 8% in February 2026 and authorizing a new buyback program of up to $1.5 billion. Softness in the Water Infrastructure segment, where second-quarter orders fell 4% organically and China revenues dropped 40%, remains a drag, and long-term debt rose to $2.40 billion from $1.41 billion at the end of 2025 against $1.28 billion in cash and cash equivalents.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Capital
Climate Adaptation & Water › Water Utilities & Infrastructure Competition
XYL · Capital · Positive Xylem agreed to acquire Cornell Pump and Roper Pump from Indicor for $1.46 billion, expanding its pumping portfolio and end-market reach.
XYL · Demand · Positive Water Solutions and Services orders jumped 147% organically to $1.45 billion, driven by an ~$850 million 23-year outsourced water contract, its largest ever.
FLE eyes pump orders after floods recede, targets backlog of 500 million baht by year-end
Frontline Engineering Public Company Limited, or FLE, is preparing to send teams into affected areas to help with relief and recovery once floodwaters recede, as demand for water pumps continues to rise steadily. Chief Executive Officer Panu Chokapirat told Hoons Vision that the company has coordinated with the Governor of the National Housing Authority to prepare to assist the Khlong Chan area after the water recedes, and will organise a team of volunteer engineers together with relevant agencies, namely the Metropolitan Waterworks Authority, the Provincial Waterworks Authority, the electricity authority, and the National Housing Authority, to survey damage in advance. As for the opportunity to secure purchase orders in the fourth quarter of 2026, the company is monitoring and reviewing the government's central budget allocation, which can be used for urgent procurement. The company is confident that new orders will definitely come in. On the outlook for operating results in the fourth quarter of 2026, the company is maintaining its previously stated target, expecting its backlog of work awaiting revenue recognition to reach a high level of 500 million baht by the end of this year, and estimates that profit will not fall below its earlier target.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
Frontline Engineering · Demand · Positive FLE expects new pump purchase orders after floods recede, with backlog targeted to reach 500 million baht by year-end.
Function International Public Company Limited, or FTI, has reported an earnings outlook for the third quarter of 2026 showing growth both against the second quarter of 2026 and against the same period last year. Kaweewat Siriwongmongkol, the company's Chief Accounting and Finance Officer, said the growth comes from the launch of new products in the water filtration media and new water purifier lines, as well as the company's receipt of halal certification for its filter cartridges and filtration media, which has helped expand distribution channels and significantly boost sales. In the second quarter of 2026, the company posted a net profit of 99.40 million baht on revenue of 228.75 million baht. The company has pursued a strategy of focusing on high-quality products at appropriate prices and cutting back on large-volume trade discounts, pushing its gross profit margin up to 32% from 27% a year earlier, particularly for its water filtration media under the Aquatek brand. At the same time, it has adjusted its inventory policy to hold enough stock for roughly three to four months of sales, down from the large stockpiles it previously maintained, in order to reduce storage costs, and it plans to raise average selling prices by about 2% to 3% in line with currency-related costs. Meanwhile, cooperation with partners from China is still under negotiation, with the trade war and US tariff measures among the factors to be weighed, though its main customer base remains domestic, so it has not been significantly affected directly.
SPX Technologies Completes $410 Million FIS Water Acquisition
SPX Technologies announced on September 15 that it completed the acquisition of FIS Water, LLC for approximately $410 million in cash, including certain tax attributes. The acquired business is expected to generate approximately $105 million of revenue in 2026, its full-year revenue forecast, with its contribution to consolidated 2026 results reflecting the ownership period. The stated cash consideration equals approximately 3.9 times expected annual revenue. FIS Water's filtration and flow-control products have joined the HVAC segment within SPX's Cooling operations, complementing existing cooling-tower offerings, and its valves and actuators also fit the recently acquired Neptronic controls business. Management plans to update 2026 guidance, including the acquisition's impact, with third-quarter results.
Galliford Try Fair Value Raised to £7.54 on Lower Risk and Margin Views
Analysts lifted their fair value estimate for Galliford Try Holdings to £7.54 per share from £6.52, citing updated views on risk around future cash flows and the company's scope to deliver on its plans. The revised model keeps the revenue growth assumption unchanged at 4.01% while raising the net profit margin assumption to 2.49% from 2.14%. The future P/E assumption moved to 18.52x from 18.93x, and the discount rate eased to 9.53% from 9.61%. Cautious analysts note the higher fair value still rests on assumptions about cash flow timing and project delivery, warning that any slip in execution could leave the stock exposed if the market has already priced in much of the revised value. The narrative also folds in expansion into energy and capital maintenance markets, particularly water and wastewater treatment, alongside a reentry into the affordable homes market using modern methods of construction.
Crane Company to Acquire Trillium Flow Technologies' U.S. Pump Business for $240 Million
Crane Company announced a definitive agreement on September 14 to acquire Trillium Flow Technologies' U.S. pump business for approximately $240 million. The operations primarily serve municipal water and wastewater customers and are expected to generate approximately $115 million in full-year revenue, with closing expected in the fourth quarter subject to regulatory approvals and customary conditions. The deal would add the Floway, Wemco, Roto-Jet and WSP brands to Crane's Process Flow Technologies segment, and Crane disclosed a price of approximately 14.6 times estimated 2026 adjusted EBITDA. The announcement did not quantify aftermarket revenue's share of the business, its margins, expected synergies, or integration costs, nor did it specify the funding mix. Process Flow Technologies' second-quarter sales rose 20.9% to $385.6 million while company-defined non-GAAP core sales declined 1.4%, and at June 30 Crane held $350.4 million of cash and $1.098 billion of debt before subsequently repaying another $90 million.
Climate Adaptation & Water › Water Treatment & Flow Technology Competition
CR · Capital · Positive Crane agrees to acquire Trillium's U.S. pump business for ~$240M, adding Floway, Wemco, Roto-Jet and WSP brands to its Process Flow Technologies segment.
Trillium Flow Technologies · Capital · Positive Trillium Flow Technologies is selling its U.S. pump business to Crane for ~$240M, divesting operations serving municipal water and wastewater customers.
RBC Downgrades Mueller Water to Underperform on Municipal Spending Slowdown
RBC Capital downgraded Mueller Water Products to Underperform from Sector Perform and cut its price target to $21 from $30, sending shares down 3.2% in Thursday's trading. Analyst Jeffrey Reive said the consensus expectation for 4% FY 2027 revenue growth does not reflect the combined headwinds of fading federal stimulus, hydrant backlog normalization, and ongoing residential softness. Reive considers Mueller one of the most exposed stocks in RBC's coverage to a slowdown in municipal water spending, since its core valve and hydrant business is tied to municipal project activity and funding availability, and he believes it lacks the structural buffer against near-term funding shifts that peers such as Badger Meter or Veralto possess. He said his concern is not with execution but with expected pressure from a falloff in federal stimulus that is fully reflected in consensus estimates, adding that the hydrant backlog workdown supporting FY 2026 revenue growth is unlikely to repeat, which he sees as a $35M headwind with limited offsets as residential construction still tries to find a bottom.
ABB launches AquaMaster+ digital platform for water networks in India
ABB has launched AquaMaster+, a digital platform for smart water network management designed to help water utilities in India monitor, analyze and manage their networks, prevent pipeline water losses and optimize operations. The integrated platform combines hardware, advanced software capabilities and cloud-based decision-making tools, and is available to water companies using ABB's AquaMaster4 flowmeters or as a standalone software solution that can be integrated into existing systems. The launch builds on ABB's AquaMaster electromagnetic flowmeters, which mark 20 years in India, growing from a first installation in Bengaluru to nearly 2,000 units across 15 cities in eight states, including Gujarat, Rajasthan, Odisha and Delhi, with Bengaluru alone running some 500 units. AquaMaster+ offers fleet-level insights with GIS mapping as well as device insights covering flow and pressure shifts, device diagnostics and remote configuration, which improves response times and reduces travel costs. Raghu Kumar NV, Global Product Manager in ABB's Measurement & Analytics division, said the platform connects water utilities to crucial flow measurement insights to help the water sector outrun, leaner and cleaner.
FVC unveils second-half 2026 plan, to recognise backlog across four core businesses, supporting revenue growth in line with target
Filter Vision Public Company Limited, or FVC, has announced its operating plan for the second half of 2026, focusing on cost management, maintaining liquidity, and accelerating revenue recognition from its order backlog across four core business groups, after its second-quarter 2026 results showed sales and service revenue of 111.42 million baht, up 10.15% from the same period a year earlier, and net profit from continuing operations of 4.41 million baht, a rise of 1,675%, with gross profit margin increasing to 34.10%. For the first six months of 2026, sales and service revenue totalled 468.36 million baht, up 122.21% from the same period a year earlier. In the industrial and water-system operator business group, or B1, the company received trading product orders from 16 customers worth 3.12 million baht, plus 22 projects covering water-system installation, automatic drinking-water dispensers, services, and maintenance contracts, with a combined value of 5.23 million baht, which will be gradually recognised as revenue in the second half. In the commercial and residential business group, or B2, there are orders for ice-machine system installation on two projects with a combined value of 32.32 million baht, expected to be completed and recognised as revenue within the second half of 2026. In the medical services business group, or B3, KT Medical Service Public Company Limited, or KTMS, plans to expand its dialysis centres by three to five branches and add roughly 36 to 64 dialysis machines during the third quarter of 2026. Meanwhile, Irving Corporation Company Limited has orders for water-system installation on 12 projects with a combined value of 9.46 million baht, and Medical Vision Company Limited is installing medical specimen delivery and return air-pipe systems on three projects with a combined value of 0.47 million baht. In the industrial estate development and integrated utility services business group, or B4, the company succeeded in selling land in the World Lamphun Industrial Estate Phase 2 project under one contract with a combined value of 611.49 million baht, with ownership transfer and revenue recognition expected within the fourth quarter of 2026. Managing Director Wichit Techakasem said the backlog from all four business groups, which will be gradually recognised in the second half, together with the significant revenue from the land sale in the fourth quarter, will drive 2026 results to grow in line with the target, while the company will also focus on cost control and improving profitability for quality and sustainable growth.
Climate Adaptation & Water › Water Treatment & Flow Technology Demand
FVC.BK · Demand · Positive FVC's four core business groups hold a large order backlog (e.g. 32.32M baht ice-machine projects, 9.46M baht water-system projects) to be recognised as revenue in H2 2026, supporting revenue growth in line with target.
KTMS.BK · Demand · Positive KTMS plans to expand dialysis centres by three to five branches and add roughly 36-64 dialysis machines in Q3 2026, driving its medical services business.
Erving Corporation · Demand · Positive Irving Corporation holds orders for water-system installation on 12 projects worth a combined 9.46 million baht.
Medical Vision · Demand · Positive Medical Vision is installing medical specimen delivery and return air-pipe systems, contributing orders to FVC's medical services group.
FLE charges into second-half high season with 352 million baht backlog, targets 500 million by year-end
Frontline Engineering Public Company Limited, or FLE, is preparing to enter high-season mode in the second half of the year. Chief Executive Officer Phanu Chokapirat said the company sees improving business prospects from opportunities in water system projects from the government and state enterprises expected to roll out under the fiscal 2027 budget framework. As of July 31, 2026, the company holds a backlog of 352 million baht, which will be gradually recognized as revenue in line with project progress, and it aims to lift the backlog to 500 million baht by the end of this year. At the same time, FLE is pushing ahead with its water pump rental business, which has already secured seven customer contracts, with plans to add more contracts continuously in order to generate recurring income and broaden its revenue sources. For the second-half operating performance, the company expects growth to outpace the first half, driven by the gradual delivery of work on hand and new project wins that bolster the backlog in both its existing business and the water pump rental business, which is a new venture.
Climate Adaptation & Water › Water Utilities & Infrastructure ▲Demand
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
Frontline Engineering · Demand · Positive FLE holds a 352 million baht backlog and targets 500 million by year-end, with new project wins and seven water pump rental contracts driving revenue growth.
BioLargo Canada and Fort McKay Form Indigenous-Led Water Venture
BioLargo Canada Inc. has entered a strategic partnership with Fort McKay Oil Services, a registered First-Nation company, to form Tũ Nipi Water Solutions Ltd., an Indigenous-led venture in which BioLargo Canada holds a minority stake, to treat oil sands process water and other wastewater in northern Alberta. The partnership is backed by a conditional grant commitment from Emissions Reduction Alberta supporting a CAD $4.6 million project, with commercial trials already underway. Alberta's tailings ponds hold more than 1.4 billion cubic meters of fluid tailings, and the government has accepted recommendations to develop treatment technologies, while federal Bill C-37 aims to set national water standards for First Nation lands. Tũ Nipi and BioLargo Canada have also identified an initial wastewater project for PFAS and odor control technologies. A formal launch event is planned in Fort McMurray in October.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
BioLargo Canada Inc. · Demand · Positive BioLargo Canada forms Tũ Nipi venture with Fort McKay to treat oil sands process water, with commercial trials underway and an initial PFAS/odor project identified
Fort McKay Oil Services · Demand · Positive Fort McKay Oil Services partners to form the Indigenous-led Tũ Nipi water treatment venture, gaining a new business avenue
Tũ Nipi Water Solutions Ltd. · Demand · Positive New Indigenous-led venture formed to treat oil sands process water, backed by a conditional Emissions Reduction Alberta grant for a CAD $4.6M project
LACROIX water quality sensor sales grow fivefold to €2.5 million
LACROIX, a French technology and industrial group, announced that its water quality sensor sales grew fivefold between 2023 and 2025, reaching €2.5 million in annual revenue, driven by regulatory demands and public investment plans in Spain, France, and Italy. The company, which generated €445 million in total revenue in 2025, has expanded its portfolio with the SOFREL Chlorine sensor for drinking water and a multiparameter sensor for wastewater, with a second drinking water sensor planned for 2026. Growth, largely driven by Spain in 2025, is expected to slow from the second half of 2026 following the conclusion of the Spanish PERTE funding programme, but LACROIX aims to maintain strong momentum by broadening its drinking water quality monitoring solutions. CEO Vincent Bedouin emphasized the importance of comprehensive, cybersecurity-enabled solutions for real-time water management.
Wint has raised a $36 million Series D funding round co-led by LIP Ventures and Inven Capital to expand its AI-driven water intelligence platform for buildings. The company will use the capital to accelerate product development and deepen its reach among enterprise building owners, insurers, and facility managers. This round follows a strategic investment from Grosvenor in December 2025 and comes after Wint reported saving 1.15 billion gallons of water and preventing $100 million in damage across more than 1,300 incidents in 2025. The funding signals growing enterprise and insurer appetite for proactive water-risk technology as climate-driven damage costs push building owners toward AI-based prevention tools.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Capital
Wint · Capital · Positive Wint raised a $36M Series D to expand its AI-driven water intelligence platform.
Inven Capital · Capital · Positive Inven Capital co-led Wint's $36M Series D funding round.
LIP Ventures · Capital · Positive LIP Ventures co-led Wint's $36M Series D funding round.
Grosvenor Group Holdings Ltd. · Capital · Positive Grosvenor made a strategic investment in Wint in December 2025, a prior funding event referenced in this round.
AECOM has been selected by the Santa Clara Valley Water District to provide design services for the Pure Water Silicon Valley Demonstration Facility, a project aimed at advancing direct potable reuse as a drought-resilient water source. The facility, capable of producing up to 200 gallons per minute, will be built at the existing Silicon Valley Advanced Water Purification Center and will include a 10,000-square-foot learning center. Following the news, ACM stock gained 0.6% during trading hours yesterday. This award comes as AECOM's U.S. water pipeline expanded 30% in the third quarter of fiscal 2026, with total backlog up 13% year over year to a record high. Quarterly wins reached $4.2 billion, including $4 billion in design wins, and the design pipeline hit an all-time high. The project strengthens AECOM's position in the growing water-reuse market, though the company faces competition from EMCOR and Sterling Infrastructure, which are also benefiting from strong infrastructure demand.
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
ACM · Demand · Positive Santa Clara Valley Water District selected AECOM to provide design services for the Pure Water Silicon Valley Demonstration Facility, a concrete contract win.
Gradiant Wins Major Water Contract for West Texas AI Data Center Campus
Gradiant, the water layer of the AI economy, announced a new contract to deliver a full turnkey water and wastewater package for a hyperscale AI data center campus in West Texas, developed by one of the world's largest technology companies. The project, part of Gradiant's HyperSolved platform, covers potable water supply and wastewater treatment with a zero-surface-discharge design, supporting one of the largest multi-billion-dollar AI investments in the United States. CEO Prakash Govindan emphasized that water-scarce regions are where hyperscale growth is happening, and this project demonstrates that operators can build without water constraints. Managing Director for the Americas, Nish Vora, noted the tight schedule and tough water constraints, highlighting the company's existing presence in Texas. This win expands Gradiant's portfolio of water infrastructure for AI data centers, which includes treatment technologies, CURE Chemicals, and SmartOps.
Water Infrastructure Q2: Mueller Beats, Watts Leads, Tennant Lags
In the Q2 earnings season for water infrastructure stocks, Mueller Water Products reported revenues of $395.9 million, up 4.1% year on year, exceeding analysts' expectations by 1.2%, and delivered a very strong quarter with beats on EPS and EBITDA estimates, though it gave the weakest full-year guidance update in the group. Among the five tracked companies, Watts Water Technologies was the best performer, with revenues of $763.2 million, up 18.6% year on year, beating expectations by 4.9%, while Tennant was the weakest, with revenues of $324 million, up 1.7%, missing estimates by 1.7% and providing disappointing EBITDA guidance. Energy Recovery saw revenues plummet 57.2% to $12 million, missing estimates by 36.3%, and Xylem reported revenues of $2.34 billion, up 1.5%, meeting expectations. As a group, the companies' revenues missed consensus estimates by 6.4%, and their shares have declined on average 9.4% since the latest earnings results.
Veolia Signs Three Strategic Agreements in Saudi Arabia
Veolia Environnement has signed three strategic memorandums of understanding with Acwa, Ma'aden, and Khazeen to accelerate environmental security in Saudi Arabia, focusing on water technologies and hazardous waste management. The agreements aim to preserve water resources, enhance energy efficiency, decarbonize industry, and develop local skills, aligning with Saudi Vision 2030 and Veolia's GreenUp program. With Acwa, a world-leading desalination company, Veolia will optimize desalination plant performance, potentially reducing emissions by 500,000 tons of CO2 per year. With Ma'aden, a major mining player, the partnership will improve water cycle and industrial waste management. With Khazeen, a GASCO subsidiary specializing in LPG storage, Veolia will deploy environmental technologies to support decarbonization and offer integrated facility management. Veolia has been present in Saudi Arabia since 1975 and continues to support the Kingdom's essential infrastructure.
VIE.PA · Demand · Positive Veolia signed three strategic MoUs with Acwa, Ma'aden, and Khazeen for water technologies and hazardous waste management in Saudi Arabia.
ACWA Power · Demand · Positive ACWA Power MoU with Veolia to optimize desalination plant performance, potentially cutting 500,000 tons of CO2 per year.
Khazeen Company · Demand · Positive Khazeen, a GASCO subsidiary, will deploy Veolia environmental technologies for decarbonization and integrated facility management.
Saudi Arabian Mining Company (Ma'aden) · Demand · Positive Ma'aden partnership with Veolia to improve water cycle and industrial waste management.
National Gas and Industrialization Company (GASCO) · Demand · Positive GASCO subsidiary Khazeen signed an MoU with Veolia for environmental technologies and facility management.
Xylem Shares Down 7.1% Since Q2 Beat, Guidance Raised
Xylem's shares have fallen 7.1% since its last earnings report, underperforming the S&P 500, but the company beat second-quarter estimates and raised its full-year guidance. Adjusted earnings of $1.46 per share beat the Zacks Consensus Estimate of $1.34 by 9%, while revenues of $2.34 billion edged past expectations. Orders surged 42% year over year to $3.09 billion, and adjusted EBITDA margin expanded to 23.3% from 21.8%. For 2026, Xylem now expects adjusted earnings of $5.55 to $5.70 per share, up from its prior range of $5.35 to $5.60, and revenues of approximately $9.2 billion. The company also bought back $1.24 billion in shares during the first half of the year, up from $13 million a year earlier.
AirJoule Reports Q2 Loss as Water Scarcity Boosts Data Center Demand
AirJoule Technologies reported a second-quarter net loss of $8.5 million, mostly noncash, while highlighting that water-use restrictions in New York, Texas, and California are creating sales opportunities for its water-from-air systems. The company signed an exclusive sales agreement with Kubota Corporation in July for residential developments in Texas and California, and it is deploying pilot units at GE Vernova's campus and Expo City Dubai. AirJoule raised its 2026 cash spend guidance to $27 million to $28 million, up from $25 million, and holds $43 million in cash with zero debt. Management expects only modest paid deployment revenue in 2026, with meaningful commercial revenue not arriving until 2027.
NESDB Warns Thailand to Set Data Center Rules Before Resource Crisis
The Office of the National Economic and Social Development Council (NESDB) has issued a report warning of the challenges from Data Center investment in Thailand, which is expanding rapidly amid the growth of AI technology and the digital economy. It points out that this industry consumes enormous amounts of electricity and water, especially water for cooling systems, which could impact households and agriculture if water balance planning is not coordinated with relevant agencies. Moreover, Thailand still relies on importing advanced technology such as chips and servers, so most economic benefits occur only during the construction phase. Meanwhile, legal and regulatory gaps remain, as some investors avoid applying for BOI promotion and instead obtain licenses from other agencies, preventing the state from comprehensively controlling environmental impacts. NESDB therefore proposes four solutions: establishing a main regulatory body, setting proportions for using Thai goods and labor, allowing public participation in oversight, and enforcing energy-saving technologies with clear water and electricity usage targets, so that Thailand does not merely bear the environmental costs.
ROTEC Ltd. has been awarded the design for the use of Flow Reversal Reverse Osmosis at PUB Singapore's Changi NEWater Factory 3, an 86 million gallons per day plant. The company is in the final design phase for the project in collaboration with Jacobs Solutions, and the incorporation of FR-RO is designed to enable NEWater recovery of up to 90%, compared with the 75% recovery historically associated with conventional NEWater RO systems. This award follows ROTEC's work at the Tuas Water Reclamation Plant, where six FR-RO units have recently been delivered, each designed for more than 7 MGD of treatment capacity, representing 44 MGD of municipal water reuse now preparing for commissioning. The combined Singapore flow reversal capacity exceeds 130 MGD, and the Changi project will be ROTEC's largest Flow Reversal application to date.
LiqTech Cuts 2026 Revenue Guidance After Water Project Delay
LiqTech International reported second-quarter revenue of $4.4 million, down 12% year over year, and cut its full-year revenue guidance to $20 million to $23 million after a major Water for Energy project was delayed by a customer's organizational change. Commercial Pool revenue hit a record $1.5 million, up from $0.8 million a year earlier, while Marine revenue rose to $0.7 million from $0.4 million. The company posted a net loss of $3.1 million, wider than the $2.2 million loss in the prior-year quarter, and adjusted EBITDA was negative $1.6 million. LiqTech completed a June public offering with about $18 million in net proceeds, using part of it to repay senior promissory notes and original issue discount notes, and ended the quarter with $15.7 million in cash including restricted cash. The company also announced a $2.1 million follow-on order from a U.S.-based steel manufacturer for four additional wastewater filtration systems, with about 75% of that order expected to be delivered by the end of 2026.
Climate Adaptation & Water › Water Treatment & Flow Technology ▼Demand
LIQT · Demand · Negative Cut 2026 revenue guidance due to delayed Water for Energy project, though record pool revenue and follow-on order provide some offset.
Consolidated Water Q2 revenue dips 2% as manufacturing slide offsets bulk water growth
Consolidated Water reported second-quarter 2026 revenue of $32.9 million, down 2% from a year earlier, as a 49% plunge in manufacturing revenue to $2.7 million outweighed gains in bulk water, retail and services. Net income from continuing operations fell to $4.0 million, or $0.25 per diluted share, from $5.2 million, or $0.32 per diluted share. The company secured a new 25-year retail water license in Grand Cayman that preserves its exclusive territory and is expected to cut customers' average water cost by about 6.5%. After the quarter, Consolidated Water received a $10.1 million Florida equipment order and advanced procurement for its planned Hawaii desalination facility, with management expecting these projects to support results through 2027. The company ended June with $132.6 million in cash, $144.6 million in working capital and no significant debt.
Climate Adaptation & Water › Water Treatment & Flow Technology Demand
CWCO · Demand · Positive New 25-year retail license in Grand Cayman and $10.1M Florida order, plus Hawaii project, support growth despite Q2 revenue dip.
England declares 71.3% of its area in drought after lowest rainfall in 190 years
The National Drought Group of England declared additional areas to be in drought on Monday, bringing the total to 71.3% of England now facing flash drought. This follows July rainfall being the lowest in 190 years, and August rainfall so far at only 5% of expected levels. Around 45 million people live in drought-affected areas, and more than 27 million are under water restriction measures. The Water Minister said the government recognises the hardship, especially the impact on farmers from climate change, which is causing more frequent floods and droughts.
Tutor Perini Wins $69.5 Million Death Valley Water Rehab Contract
Tutor Perini subsidiary Perini Management Services has been awarded a $69.5 million contract to rehabilitate water and wastewater treatment systems at Death Valley National Park. The project includes new potable water wells, a rebuilt reverse osmosis facility, chlorination and controls, and replacement of sewer mains, laterals, and pump stations. Work is scheduled to start in fall 2026 with substantial completion targeted for early 2029, and the contract will enter Tutor Perini's backlog in the third quarter of 2026. This award adds to the company's government-focused pipeline alongside its existing multibillion-dollar megaprojects.
AirJoule Technologies deploys water generation system at GE Vernova research center
AirJoule Technologies has deployed an AirJoule Core atmospheric water generation system at GE Vernova's new Advanced Research Center in New York, where it will serve as a live customer showcase. The deployment comes as AirJoule's share price has gained 27.33% over the past week and 57.46% over 90 days, though the three-year total shareholder return remains down 46.61%. The most-followed narrative on the stock, based on a last close of $5.59, points to a fair value of $12.00 using an 8.44% discount rate, framing the shares as 53.4% undervalued. That bullish view leans on future revenue ramp, margin lift, and a rich earnings multiple, supported by a balance sheet with US$35 million in combined cash between the company and its joint venture, no debt, and guidance that this funding supports operations through 2027. The narrative still hinges on successful commercialization timelines and large-scale adoption by data center and Middle East customers.
United Flow Technologies acquires Iron Horse Environmental to expand Mid-Atlantic water treatment reach
United Flow Technologies has acquired Iron Horse Environmental, a Pennsylvania-based provider of water and wastewater treatment equipment and services. The deal strengthens UFT's presence across Eastern Pennsylvania, Southern New Jersey, and Delaware, adding specialized expertise in pumping, mixing, solids handling, odor control, and disinfection. Iron Horse Environmental will operate as part of UFT's platform of regional brands, which is backed by private equity firm Berkshire Partners. UFT CEO Matt Hart said the acquisition brings exceptional technical support and responsive service that municipal operators depend on.
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