Phoenix opens funding for companies interested in water conservation projects
May 13, 2022, 11:50 AM
PHOENIX — The Phoenix City Council on Wednesday voted to open funding as part of a new program for companies that want to take part in water conservation projects.
Blue Bank, a partnership between the city, the New Venture Fund’s BlueCommons project and the Bonneville Environmental Foundation’s Business for Water Stewardship program, will give out loans to qualified companies that want to use cooling tower projects at their buildings and campuses.
Phoenix will be responsible for identifying companies that could be ready to adopt the technology.
BlueCommons and BWS can then choose to provide funding for companies.
The goal of the program is to create a rotating funding mechanism for future projects.
Inspiration for the program came after large-scale cooling tower water treatment technology was successful at Phoenix Sky Harbor Airport.
The cooling tower at the airport saves about 31 million gallons of water per year in Terminal 4 alone and limits the amount of chemicals needed to keep the pipes clean.