The venture was formed with an objective to bring clean water technology to India and other countries in Southeast Asia.
BS Enviro as a precursor to the venture acquired a 51% stake in Skywater India while the remaining 49% stake is held by Harbinger.
Skywater India employs patented technology to manufacture Atmospheric Water Generators which harness humidity in the air to generate clean water.
Commenting on the joint venture agreement, Harbinger chief executive officer and chief investment officer Phil Falcone highlighted the World Bank estimates which point to unsafe drinking water in India being responsible for approximately 1,600 deaths daily and 21% of all communicable diseases.
Applica Water, a US-based affiliate of Skywater India, noted that currently, the company is installing 100 Skywater units in the State of Meghalaya, and the new joint venture will improve the ability to meet the increasing demand for its technology and to expand its presence to other parts of India and Southeast Asia.
BS Group chairman & managing director Rajesh Agarwal added, "With Skywater’s technology, we are providing the people in India with a vital resource that will improve their quality of life and help decrease the spread of water-borne illnesses."
"BS Enviro’s industry expertise, local knowledge and on-the-ground presence will be invaluable to Skywater India’s mission to provide potable drinking water to India and Southeast Asia, and we are excited to have them as our partner on this endeavor."
