New water company Almar Water Solutions launched by former Abengoa CEO
Almar Water Solutions, a new water infrastructure development company led by former Abengoa chief executive Carlos Cosin, was launched at World Future Energy Summit in Abu Dhabi, January 2017.
The new business will focus on sustainable development in the water sector globally, constructing and operating water desalination and purification plants. It will offer development, financing, design, engineering, and operations and maintenance services for municipal and industrial clients; as well as asset and equity management for investors and other third parties. The core focus will be on Latin America, the Middle East, and Africa.
The company's main backer is Abdul Latif Jameel Energy.
"We want to be recognised as a leading player in the water sector, able to provide commercial solutions to the challenges of achieving sustainable development. Abdul Latif Jameel Energy's expertise and extensive global reach will strengthen our efforts to do so. By combining water treatment services with a renewable energy offering, we can also help to reduce costs and the environmental impact," said Cosin.
Abdul Latif Jameel Energy described the move as "a further step" in its renewable energy and environmental services strategy, building on the acquisition of solar photovoltaics company Fotowatio Renewable Ventures in 2015.
"Almar Water Solutions' expertise and offering strongly aligns with our global presence, providing comprehensive water and wastewater infrastructure services that will also support the economic development of the communities where they operate," said chairman and president of Abdul Latif Jameel Energy's parent company, Abdul Latif Jameel, Mohammed Abdul Latif Jameel.