Open Hydro, a leader in modelling, reporting, and tracking emissions from reservoirs, has secured a significant $0.6 million investment round to propel its efforts in decarbonizing freshwater systems. Sustainable Ventures, a key player in climate tech investments, led the funding round, with Echo River Capital, a notable investor in water technology, also contributing. This backing underscores a shared commitment to tackling climate change and leveraging digital solutions to address global environmental challenges.
The infusion of capital marks a pivotal moment for Open Hydro, as it seeks to help water and electric utilities become leaders in emissions reduction, while supporting their claims for good water quality and clean hydropower electricity.
"This milestone represents a transformative moment as we project our vision for decarbonised freshwater systems into reality," said Cristina Diez, CEO and co-founder at Open Hydro. "This investment fuels our momentum to accelerate our growth and scale the impact of our solution. Together, we empower businesses to champion healthier water systems while achieving their net-zero objectives."
The funds will be instrumental in further enhancing Open Hydro's innovative solutions and expanding its reach into new regions. Leveraging advanced technologies and strategic partnerships, Open Hydro aims to reshape how emissions are managed in freshwater systems globally.
Innovate UK, the UK’s Innovation Agency, has provided additional support by matching the leading investor’s capital with non-equity funds to advance Open Hydro’s research. This will involve leveraging machine learning techniques and satellite technology to enhance the accuracy and predictability of emissions models.
"We are excited to partner with Open Hydro on their mission to manage down emissions from water systems," said Stuart Ferguson, Investor Partner at Sustainable Ventures. "Their innovative approach and demonstrated leadership in the field position them for continued success, and we are thrilled to support their growth and impact."
“Echo River Capital is investing in Open Hydro because it is perfectly positioned to inform and mitigate the massive and hidden emissions coming from aquatic ecosystems and water treatment systems,” added Peter Yolles, General Partner at Echo River Capital, says. “Open Hydro is solving the looming problem of methane emissions lurking in electricity production used by the world's largest corporate energy consumers.”
Open Hydro said its solution holds significance in accurately representing and accrediting low-carbon electricity production, particularly from renewable sources like hydropower. By modelling, reporting, and accrediting low-carbon electricity production, the company said it empowers hydropower operators to differentiate themselves in the electric market and meet the growing demand for green energy solutions.
