Earth Finance Acquires Water Foundry to Address Climate Impact
Image: Earth Finance
Earth Finance, a Seattle-based climate analytics and consulting startup, has announced the acquisition of Water Foundry, which specializes in water scarcity and water quality management. The deal strengthens its capabilities to help companies mitigate climate and water-related risks, which are increasingly interconnected. Although the terms of the transaction were not disclosed, this strategic acquisition highlights the growing importance of water management in global climate action.
According to Garrett Kephart, CEO of Earth Finance, “Water scarcity is no longer just an environmental issue; it is a critical economic concern affecting supply chains, transportation and energy production on a global scale.” Reuven Carlyle, the company's executive vice president, added that “water and nature are the lifeblood of climate action.”
Water Foundry founder Will Sarni will join as a “practice leader, water and nature,” bringing his expertise to help clients address water management challenges. This acquisition coincides with the global trend of organizations reducing their carbon footprint. More than 500 companies have committed to the Climate Commitment, with the goal of reducing net carbon emissions to zero by 2040, and many are also addressing water use as part of their environmental commitments.
Earth Finance, founded in 2022, helps companies transition from fossil fuels to clean energy through comprehensive services such as carbon reduction roadmaps, sustainable business model designs and connecting public funds with private investors. The company launched publicly in February 2023 after raising $14 million in seed funding. The acquisition of Water Foundry is its second deal, following last year's purchase of Molecule, a climate advocacy firm.
With about 40 employees and a growing portfolio of services, they are quickly positioning themselves as a leader in the climate technology space, helping companies around the world address both carbon emissions and water management challenges in their sustainability efforts.
