The answer is fog.
According to the UN, by 2030, two-thirds of the world will not have enough water to cover their needs. There are 14 countries already under extreme drought, and in the USA alone, drought has cost over $250 billion. Permalution works on cloud and fog water collection technology. As rain is considered vertical precipitation, fog/clouds are considered horizontal precipitation and can collect up to three times more water than rain. We are on a mission to introduce a new water source to the world through our world-class technology: The Fog Atlas, the Water Radar, and the Fog Collectors. We are more affordable than desalination plants, more efficient than rain, and safer than groundwater extraction.
We have deployed projects in agriculture, wildfire mitigation, and climate adaptation. In 2023, we focused mainly on government utility services, industrial steam water recycling (new application) and humanitarian development. In the near future we will become a water utility service provider, adopting a recurring revenue model. We launched our seed fundraising round, with many soft commitments already confirmed, and we are looking for a lead to start closing our $2 million investment round. If fog and cloud water can be accessed globally, then we can count on a new substantial solution for the world's current water access, drought, and climate adaptation challenges.
Why our venture should be considered one of Canada’s 50 most investable cleantech companies:
We are the leading company in fog and cloud water collection. If fog/clouds are not collected, then they return into the atmosphere through temperature change, and are therefore lost from the local hydric cycle. We tap into floating water, and we are now adapting our technology for industrial steam water recycling, which will allow us to develop new markets/applications in regions regardless of their fog/cloud exposure.