Benzinga | Jan 11, 2022 12:16PM EST

Xylem Partners With Isle Utilities To Support Breakthrough Water Technologies

* Xylem Inc (NYSE:XYL) is sponsoring a new funding mechanism for water utilities to deploy promising new technologies.

* The company has partnered with water consultancy Isle Utilities marking a new approach to funding and scaling breakthrough water technologies, called the "Trial Reservoir."

* The initiative provides water technology innovators access to capital for pilot projects, with an initial focus on technologies that reduce the carbon emissions of water systems.

* Xylem is a foundation sponsor of the initiative along with other water sector partners.

* The Trial Reservoir expects to fund its first utility pilots in the first quarter of 2022.

* Price Action: XYL shares are trading higher by 0.10% at $114.37 on the last check Tuesday.