The world’s biggest water company, Coopers, has agreed to buy shares in a company that makes wastewater treatment systems, as part of a wider $15 billion investment in clean energy.
Coopers’ shares were up about 5 per cent in early trading.
The company’s shares were also up more than 11 per cent for the year.
It was also the first major international company to invest in a wastewater treatment company.
“Coopers Water has made significant progress in delivering water services across the world,” the company said in a statement.
“We look forward to working closely with our partners at Coopers to further enhance the value of our water portfolio.”
Coopers owns water treatment and treatment plants in more than 130 countries.
The world needs more water, said Coopers CEO John DeLong.
“At the same time, we must be mindful of our responsibilities to the environment and to our human and social wellbeing.”
The world has the opportunity to be more water-efficient and more water resilient, Mr DeLong said in the statement.
The new investment would be worth about $9 billion and would see the Coopers water company invest in wastewater treatment, conservation and recycling technologies, as well as building new facilities for wastewater treatment.
It will also provide more than $1 billion in capital for the company’s wastewater technology development.
The deal also comes amid global concerns over rising water levels.
A growing number of governments have expressed concerns about climate change and rising water supplies.
The U.N. estimates that the world needs to find 7.8 billion to 9.3 billion cubic metres (BCM) of water by 2100, a figure that includes fresh water from rivers and lakes.
The report, released last week by the Intergovernmental Panel on Climate Change (IPCC), estimated that the current supply will increase to 8.3 BCM by 2050, and could be even higher by 2080.
Mr DePinho said that if water scarcity persists, COOP’s investment in water-based technology and its existing facilities could help to avert “catastrophic” losses.