ABB announced today that it will acquire Real Tech, a prominent Canadian company specializing in optical sensor technology for real-time water monitoring and testing. This strategic move aims to enhance ABB's presence in the water segment and complement its product portfolio with crucial optical technology for smart water management. The financial details of the transaction, set to conclude in Q1 2024, were not disclosed.
Real Tech stands out by offering real-time water quality measurements, a significant improvement over the time-consuming traditional methods. Their patented solutions cover the entire digital water value chain, emphasizing data creation and analytics for water quality monitoring. The portfolio includes optical sensors, controllers, and optional accessories that can be customized based on customer requirements. These sensors employ spectrophotometry and fluorescence measuring techniques to enable real-time testing in the process environment, moving away from traditional lab-based approaches. The Liquid AI®, Real Tech's proprietary AI software platform, adds value by facilitating easy and accurate data analysis from their sensors. Headquartered in Whitby, Ontario, Real Tech has around 40 employees.
Jacques Mulbert, Division President at ABB Measurement & Analytics, expressed excitement about the acquisition and the prospect of jointly driving innovation and growth with Real Tech. The collaboration is expected to leverage ABB's global sales and service network, facilitating broader market access for Real Tech's technologies. The acquisition aligns with ABB Measurement & Analytics’ strategy to incorporate advanced environmental technologies into its portfolio.
Jodi Glover, CEO and co-founder of Real Tech, shared the company's journey over almost two decades, emphasizing their commitment to advancing water management through optical sensor technology. The real-time water quality monitoring sensors and data analytics capabilities provided by Real Tech empower utilities and industries to gain critical insights continuously, contributing to ABB's vision of creating a more sustainable future.
Highlighting the global water challenges, the article notes that 2.2 billion people lack access to safely managed drinking water, and over 4.2 billion lack safely managed sanitation. The collaboration between advancements in water sensor technology and artificial intelligence is positioned to aid in efficient water and wastewater management. The global investment in water quality monitoring, treatment, and infrastructure is underscored, with the US alone committing an unprecedented $111 billion over ten years to upgrade water infrastructure.
