Fresh Water scarcity is real – Privilege for few- Water investment only pragmatic approach: Entrepreneurs: Paresh Ghelani and Jay Patel
New Delhi (India), March 30: The United Nations, NASDAQ and Genesis System hosts 2023 Water Conference held in New York in the month of March. At the prestigious event, Paresh Ghelani, Robert Philips, Dr.Richard e Thorsten, Ted Calman, George Kearns, Dr.John Mathews, Timothy Stuckenberg were present as speakers with moderation by David Stuckenberg (UN Panel Dialogue) on the critical issue of how to manoeuvre the new age of water investment in a time of fresh water scarcity, an issue that impacts more than 2 billion people on earth.
Earlier, Genesis Systems announced an oversubscribed early raise of more than $10M led by Mr. Paresh Ghelani, Co-founder of the X-PRIZE global water challenge, breaking records for early-stage Water Technology companies that make water from air.
The same week, Genesis Systems presented its novel technology to address water scarcity at the 9th annual Start-up of the Year Summit held in Tampa, Florida. The Water Cube, water from air technology that cans CO2 capture, has set the international community abuzz. It’s not fictional like Luke Skywalker’s version, its making water at stations around the United States.
Genesis Systems was also selected by voters and attendees around the nation as the People’s Choice Award Winner for Sustainable Start-up of the Year. Erick Went, Chief Technology Officer at Genesis said, “The message is clear, people a care about water scarcity – an issue that impacts more than 2 billion people on earth.” Water is the key focus of Sustainable Development Goal 6 (SDG6) that is working to provide societies clean and reliable water. Without water, all goods, services, and life stops.
For five years, Genesis Systems operated in stealth, collaborating with more than 60 leading scientists, engineers, and developers to develop a portfolio of scalable and sustainable step-change nano fluid technologies. The fluid based technologies are superior in energy efficiency to other air water capture processes that rely on air conditioning technology to chill air or metal organic frameworks (MOFs) to absorb. Water Cubes can also CO2 capture while making water, allowing all generated water to be carbon neutral or carbon negative.
Phil Sumrall, a founding director at Genesis and former Director of NASA’s Advanced Concepts Office said, “As a member of the NASA Apollo engineering team that put man on the Moon, I have seen many important technical efforts during my career. However, when I learned about Genesis’ fundamental technology, I knew it could be as important as the Apollo program… Genesis will better our future by making the water in the atmosphere available to all people wherever they live.”
Genesis was founded with a single mission: Sustainably Solve Global Water Scarcity. Today, the woman CEO led and veteran owned company is a pathfinder creating a global village to help open markets to new water supply solutions.
Genesis Systems is moving water into a wireless concept with Water Cube and tapping into the $862 billion global water market with an ability to supply utilities, industrial, agricultural, and retail water to consumers without utilizing degraded or contaminated infrastructure. It will be one of the first water supply technologies to federate water supplies and create resilience and stability without using unsustainable sources such as lakes, wells, rivers, and aquifers.
Genesis Systems’ Co-founder and CEO, Shannon Stuckenberg said, “It’s an honour to have our team’s sustained work recognized at the Start-up of the Year Summit.
Globally one in ten people do not have access to clean water. The burden of hauling water literally falls on the shoulders of women and girls who spend an estimated 200 million hours a day harvesting and transporting water.
Mr. Ghelani said, “My partnership with Genesis is personal because as a child growing up without safe water, I know the importance of clean water. It’s commendable to see the rapid technological progress Genesis has made. It’s second to no other air to water tech in terms of efficiency and volume.”
Board of Trustee X-PRIZE – Paresh Ghelani:
He is an avid entrepreneur and philanthropist who focus on solving problems through innovation and entrepreneurship. He is currently active in building and investing in Moon Express, Viome Inc, DTV Motor Corporation, Ferrate Treatment Technologies, Case point, Radimmune Therapeutics. He believes in investing and mentoring companies and entrepreneurs who are taking moon shots and changing the world by building breakthrough technologies.
Entrepreneur/ Investor – Jay Patel:
He is a Philanthropist and largely invests in passion projects along with his brother Paresh Ghelani is the XPRIZE foundation, which is a leading platform in the world for solving grand challenges through incentive prizes. Other notable leaders in XPRIZE include Larry Page, Ratan Tata, Peter Diamond is, Robert Weiss, Anoushesh Ansari and Naveen Jain. They have also brought the XPRIZE foundation to India to solve India’s greatest challenges in areas like health, sanitation, women’s safety, access to clean water, waste management, etc.
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