Mekorot and Watersight Expand Partnership with AquaRing Deployment at New Locations in Israel
NESS ZIONA, Israel - May 31, 2023 – Mekorot, the Israeli national water company, and Watersight LTD, a joint venture company of Mekorot and Newsight Imaging Ltd.And Leading provider of online water AI condition-based water monitoring solutions, today announced the planned installation of the AquaRing system at new locations in Israel, targeting additional Mekorot water monitoring stations.
Watersight's patent-pending AquaRing is based on the game-changing spectral chips developed by Newsight, powered by Machine Learning and AI, and supported by a cloud-based dashboard. The device provides an advanced Real-Time, IoT monitoring solution that provides alerts based on water conditions. From source to tap, inlet to outlet, Watersight's solution is fast, smart, and scalable at a market-leading price.
The AquaRing pilot program was launched in November 2022 and has since attracted some of the leading U.S. and Europe water and beverage industry companies. The pilot program’s positive results have led Mekorot and Watersight to expand AquaRing installations with early product deployments at additional Mekorot remote locations in northern Israel.
Watersight’s program is targeting key strategic markets including the water utilities, beverage, and water purifier industries. Globally, the water and wastewater utility sector expenditure on digital solutions is forecasted to grow 8.8% annually, from US$25.9B in 2021 to US$55.2B in 2030, according to a report from Bluefield Research. Revenue in the Beverages segment is projected to reach US$235.0B in 2023 according to Statista, which relies on beverage quality process water checks during production. Watersight recently released a new use case support of monitoring the efficiency of water purifying systems, recognizing the global water purifier market size has reached US$46.3B in 2022, with Research and Markets expecting the market to reach US$78.1B by 2028, exhibiting a CAGR of 9.11%.
“With the success of our pilot program with companies representing some of the largest and most innovative water technology companies in the world, we are now ready to expand into new locations,” said Yossi Yaacoby, VP of Engineering of Mekorot. “The AquaRing is an effective tool for low-cost and affordable online water monitoring solutions. By expanding early deployments, we will be able to implement additional layers of innovative water quality devices at Mekorot's water supply system. This new implementation is another positive milestone in our innovative joint journey.”
Eli Assoolin, CEO of Watersight, added, “We continue to believe that Watersight and AquaRing represent a significant step forward in smart water quality monitoring and management, with ongoing momentum of our online water condition-based monitoring based on spectral analysis, and powered by Machine Learning and AI technology. We are confident that AquaRing expansion into additional locations will have a positive impact on the environment, as well as on the economic and social well-being of the communities we serve."
The AquaRing pilot program is part of Mekorot's broader efforts to implement advanced technologies in its water management systems. For more information about the AquaRing pilot program and Watersight's online water condition-based water monitoring solutions, please visit www.watersight.ai.
About Watersight
Watersight Ltd. is a joint company of Newsight Imaging and Mekorot. Based on Newsight’s validated spectral chip technology, the AquaRing™ is Watersight’s flagship device for online condition-based monitoring (CbM). This technology allows for real-time water and liquid analysis alerts at an unbeatable price. Enhanced by ML and AI, the device enables accurate diagnosis of the water’s quality, safety, and security.
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