Key Takeaways:
– Earth Finance, a Seattle-based climate consulting firm, has acquired water-focused company Water Foundry.
– The acquisition is aimed at helping businesses globally manage water scarcity and improve quality.
– Water scarcity is now considered a critical economic concern with impacts on global supply chains, transportation, and energy production.
– This is Earth Finance’s second acquisition since its launch in February 2023.
Seattle climate consulting startup, Earth Finance, has furthered its mission of global climate impact reduction through the recent acquisition of Water Foundry. As part of this new partnership, Earth Finance aims to equip businesses worldwide with tools to effectively manage water scarcity and quality—critical issues impacting both our environment and economy.
Bringing Water Management to Business Strategies
Earth Finance, established in 2023, is no stranger to climate action. The progressive company offers a variety of services aimed at supporting a shift toward cleaner, more sustainable energy sources. Assisting organizations with carbon-cutting strategies, bridging the gap between public funds and private investors, and providing critical climate analytics are among their offerings.
Speaking about the acquisition, Earth Finance CEO Garrett Kephart highlighted the increasing importance of water scarcity. He stated, “Water scarcity is no longer just an environmental issue; it’s a critical economic concern that impacts global supply chains, transportation, and energy production.”
A Shared Vision for Climate Action
Water Foundry’s founder, Will Sarni, who will now serve as Earth Finance’s “practice leader, water and nature” echoed these sentiments. Water scarcity, he explained, is a problem that extends beyond the environment to affect businesses and economies at large.
Reuven Carlyle, Earth Finance’s Executive Vice President, also lent his support to this acquisition, stating, “Water and nature are the soul of climate action!”
Fulfilling Carbon-neutral Pledges
Organizations across the globe are taking concrete steps to reduce their carbon footprints, with over 500 having signed the Climate Pledge. Initiated by Amazon, this commitment sees signatories aiming for net-zero carbon emissions by 2040.
Yet, reaching environmental targets is often a daunting task, particularly for tech companies. The construction and operation of large data centers, which consume massive amounts of energy and water, present a considerable challenge. This is where Earth Finance steps in, providing innovative and practical solutions for reducing an organization’s environmental impact.
Earth Finance’s Expanding Footprint
This latest acquisition is another stride in Earth Finance’s pursuit of climate solutions. It is the second company that Earth Finance has added to its portfolio, following the purchase of climate advocacy firm Molecule last year.
Earth Finance, with about 40 employees, has shown considerable growth since publicly launching in February 2023, having raised a $14 million seed round. With the combined expertise of its co-founders—Kephart, Carlyle, and former head of the Americas Institutional business for Russell Investments, Bryan Weeks—it’s poised to drive even further advancements in climate action.
As Earth Finance expands its capabilities with the acquisition of Water Foundry, it demonstrates a continuation of its commitment to global climate action. This partnership promises to empower businesses to make essential strides in reducing their environmental impact and embracing more sustainable practices. After all, as Carlyle so aptly puts it: water and nature are indeed the soul of climate action.
