Climate Adaptive Infrastructure (“CAI”), a leading investment firm focused on low-carbon energy and sustainable water infrastructure, today announced the closing of a $100 million equity commitment to support the growth of Upwell Water’s water and wastewater utility platform.

Upwell Water, under the leadership of seasoned industry executives, has purchased and developed water utility systems, providing the operating expertise and investment to implement necessary system upgrades. Many of the 55,000 water utilities and 16,000 wastewater utilities in the United States don’t have access to experienced operators or the capital required to maintain and improve these systems that communities depend upon. CAI’s investment provides Upwell Water with additional complementary water utility expertise, combined with further equity capital needed to support sustainable management of water resources in structurally water-deficient or under resourced areas.

"We believe that this investment advances our mission to ensure a safe and sustainable water future, particularly in the communities that our utility platform serves, by expanding our capital resources as well as leveraging CAI’s team of water utility leaders and operating experience," said Harsh Rajamani, Chief Operating Officer of Upwell Water.

"Climate Adaptive Infrastructure is thrilled to support this country's need for more sustainable water infrastructure with our investment in Upwell Water's utility platform," said Bill Green, CAI Managing Partner. "Water infrastructure in North America urgently needs investment to upgrade aging systems and ensure sustainable management of this critical resource. Upwell Water is leading the way with solutions that reduce costs, drive efficiency gains, and strengthen climate change resilience."

About Climate Adaptive Infrastructure

Founded in 2019, Climate Adaptive Infrastructure (“CAI”) is an infrastructure investment firm specializing in low-carbon real assets in the energy, water and urban infrastructure sectors. The firm seeks investments across core infrastructure assets that improve the sustainability and quality of life for the world’s large and growing population. CAI selects, finances, constructs and manages its investments using climate screens and metrics designed to enhance investment returns and reduce carbon emissions. For more information, please visit: https://www.climateadaptiveinfra.com/.

About Upwell Water

Upwell Water (“Upwell”) is a tech-enabled water resource and infrastructure company with a mission to ensure a sustainable water future. Upwell Water develops, owns, and operates water supply, treatment, and utility assets globally. For more information, please visit: https://www.water.llc/.

Bill Green Managing Partner bgreen@climateadaptiveinfra.com

Daniel Yunger / Jeffrey Taufield Partner, Kekst CNC on behalf of Upwell Water daniel.yunger@kekstcnc.com jeffrey.taufield@kekstcnc.com