May 7, 2025   SOURCE: BusinessWire

Climate Adaptive Infrastructure Partners with Veolia Water Technologies & Solutions to Finance and Deliver Innovative $66M Water-as-a-Service Project for a Leading Semiconductor Manufacturer

Today, Climate Adaptive Infrastructure (“CAI”), a leading investment firm focused on energy decarbonization and sustainable water infrastructure, announced its investment in an innovative water-as-a-service (WaaS) project for a water reuse and treatment plant at a semiconductor fab in the Midwest U.S. The new project, strategically financed and developed by CAI with design and management in partnership with Veolia Water Technologies & Solutions, will be implemented at the manufacturer’s new US facility, supporting its reshoring strategy as it accelerates U.S.-based production.

CAI will finance, own the facility, turning a CapEx into an OpEx for the host, and partner with Veolia who will operate the state-of-the-art wastewater processing and reuse plant, all wrapped under a CAI WaaS contract. The $66 million investment encompasses a complex treatment system designed to process water for use at the production facility. Semiconductor fabs demand a reliable supply of high-purity water for critical processes, which also generate wastewater that must be effectively treated. Proper wastewater management is key to handling the complex chemistries involved and enabling water reuse within the facility. By implementing efficient water treatment and reuse strategies, the facility is expected to recycle approximately 2.1 million gallons of water per day, helping to significantly reduce operational costs and environmental impact. The treatment plant is projected to become operational in late 2026, providing critical support to the co-located fab.

CAI’s WaaS strategy offers an innovative, capital-efficient approach to providing critical water infrastructure while accelerating the adoption of advanced water management solutions. This strategy addresses the growing demands for industrial water reuse and wastewater treatment, driven by growing water conservation needs and the economics of efficient water reuse. This approach enables customers to focus on their core competencies while CAI and Veolia provide the necessary financing, design, process technologies, equipment procurement, installation, operations and maintenance services.

“We are thrilled to accelerate the next generation of water management and innovation with this strategic project supporting a leading manufacturer,” explained Xavier Castro, Partner at Climate Adaptive Infrastructure. “As this project moves forward, it sets a practical and exciting example for a long list of strategic companies looking to modernize their water infrastructure without investing from their own balance sheet. CAI is currently working with leaders in data centers, food and beverage industries, controlled-environment agriculture and the semiconductor industries, all of whom recognize the benefits of this type of long-term partnership.”

Veolia, the global leader in ecological transformation, launched its GreenUp strategic program a little over one year ago with water technologies as a key growth booster. With a particular focus on ultrapure water for microelectronics and other critical industries, the company is applying its technological expertise to meet the most demanding industrial requirements. Through this strategic focus on water technologies, Veolia continues to strengthen its leadership in providing essential ecological solutions while ensuring optimal operational performance and long-term resilience for its clients.

“Veolia is pleased to partner with CAI on this strategic WaaS project. By combining our advanced treatment expertise with CAI's innovative financing model, we are delivering a resilient and state-of-the-art water treatment solution featuring substantial water reuse, which directly supports the semiconductor industry's reshoring efforts and sets a new standard for sustainable manufacturing,” said Nishith Vora, Ph.D., Growth Executive, Veolia Water Technologies & Solutions.

About CAI

Founded in 2019, Climate Adaptive Infrastructure (“CAI”) is an infrastructure investment firm specializing in low-carbon real assets in the energy, water, and urban infrastructure sectors. The firm seeks investments across core infrastructure assets that improve sustainability and quality of life for the world’s large and growing population. CAI selects, finances, constructs, and manages its investments using climate screens and metrics designed to enhance investment returns while reducing carbon emissions. For more information, please visit: www.climateadaptiveinfra.com

About Veolia Water Technologies & Solutions

As the global water technology experts of Veolia, we deliver on both performance and sustainability without compromise. We provide you with peace of mind knowing your business and communities are safeguarded, efficient and resilient. Together we protect, preserve and reuse resources, tackling today’s environmental challenges while creating the water treatment and process solutions of tomorrow.