The Arison Group, led by Shari Arison, heiress to the Carnival (NYSE: CCL) cruise ships fortune, has formed a global water company called Miya with an investement of $100 million.
The Group said it intends to assemble the world’s foremost thought-leadership to find solutions for municipalities and utilities concerning water loss management issues.
Shari Arison, who is Chairman of the Arison Group, will also be the Chairman of Miya.
"I believe that through business and philanthropy, it is possible to make positive changes on a global level. I have a personal responsibility and obligation to do everything in my power to lead towards a better future for us and for that of the generations to come," said Arison. "Miya, with cutting edge expertise and technology that ranks among the world’s leaders, will provide solutions for fully utilizing the Earth’s abundance of water."
Miya was established through Arison Investments, the business arm of the Group. Efrat Peled, Arison Investments CEO and vice chairman of Miya, said, "We, at Arison Investments, will continue to harness our financial strength and our activities in the fields of finance, real estate and infrastructures, alternative and renewable energy and water to invest in large-scale enterprises, breakthroughs that will make a meaningful difference in the lives of large numbers of people around the world–such as, Miya."
In 2006 Arison took the first step in creating Miya by engaging one of the world’s leading experts on water, Booky Oren, as its president and CEO. Oren was serving as the chairman of Israel’s national water utility, Mekorot, at the time.
After creating the strategic and business plan for the new company, Arison Investments and the Miya executive team set about acquiring six firms and recruiting industry experts from around the world.
Miya estimates that a third of the world’s drinking water is lost through leaking pipes, most of which are hidden underground and need to be actively detected and repaired. Recouping the water currently lost is one of the most environmental and cost effective ways to address global water shortages. Reducing these losses by only half, for example, will provide an additional 130 million people with fresh drinking water.
Miya’s solution is based on a proven methodology that uses a combination of technologies focused on pressure management, active leakage detection and repair, and selective pipe replacement, rather than massive infrastructure replacement.
Miya’s global operations include subsidiaries: Dorot–a developer, manufacturer, and marketer of a wide range of pressure control valves distributed in over 70 countries; Switzerland-based GUTERMANN, which provides major water utilities with data acquisition and leak location equipment; Croatian-based IMGD, a pioneer in water loss management in the Balkans; Romiya, a dedicated solutions provider for the Romanian market, providing turnkey water loss management solutions; Veritec Consulting, a recognized North American pioneer in water loss that has successfully designed and implemented some of the largest water loss reduction programs in Canada; WRP, a specialist international engineering consultancy in the fields of water resource planning and management, conservation, and environmental management active mainly in South Africa and Australia; and other recognized international experts who round out the company’s global coverage.
"Currently, more than 1.4 billion people do not have access to clean, safe water, and by 2025 there will be a 40% increase in consumption. With an increasing population and accelerating urbanization, municipal water supplies are under increasing pressure. Miya is the first global company to offer an unparalleled range of solutions, based on innovative technological solutions and unique funding models," said Oren.
"We have a strong pipeline of prospective projects that total in the hundreds of millions of dollars and expect to begin work on them over the next year," he added.
About the Arison Group
The Arison Group is a global business and philanthropy group, headquartered in Israel. The Group’s activities are carried out via two channels–business and philanthropy–that bring to fruition the values of sustainability.
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