Mekorot invests in Olive Diagnostics to monitor Kinneret pollution

Mekorot Israel National Water company will monitor pollution in the Kinneret and reservoirs through Olive Diagnostics, in which it has invested. According to the agreement, Mekorot will invest several million shekels in Olive Diagnostics for a small equity holding.

The agreement was born out of the need to enhance monitoring of Israel’s water reservoirs. Jerusalem-based Olive Diagnostics was chosen to develop an optical system for online analysis of chemical and biological compounds in water for the detection of threats to water safety. The system has already been deployed in the healthcare market and is now entering the national water system.

in recent weeks that have been successful trials in the early detection of chemical and biological compounds in water reservoirs. Use of the technology will improve the monitoring of different water sources, thereby enabling timely detection and treatment of hazardous contaminants in the water source.

Since 2019, Mekorot has invested in eight startups, including this latest investment, taking stakes of up to 20% in such fields as energy management, big data, cybersecurity, water quality and security and monitoring and maintenance of national infrastructures.

Mekorot VP Engineering and Technology Yossi Jacoby says that the product will be another line of defense to secure the company’s water supply. “As a national water company, we are committed to scrupulously protect the quality of the water reaching households, farmers, and industry. Olive Diagnostics’ product will help us locate potential threats in a timely manner and better deal with them.”

Olive Diagnostics CEO Guy Goldman says: “Good real-time detection of molecules in liquids make it possible to discover and repair malfunctions in systems in order to protect public health.” He adds: “Our optical technology for detecting molecules in liquids is attracting great interest not only from the healthcare sector, but also from other industries, such as desalination facility builders and operators, of bottled beverages producers and distributors.”

Olive Diagnostics is a medical devices company founded in 2019 by Goldman and Corey Katz. It has developed Olive KG, the world’s first hands-free, non-invasive, AI-based optical device for 100% passive and seamless urinalysis, which mounts on any toilet. Olive KG performs high quality analysis of important parameters in the patients’ urine in each urination without user intervention. The continuous monitoring nature of Olive Diagnostics’ device alerts users to pre-symptomatic issues, sometimes weeks before symptoms and the appearance of conditions including urinary tract infection (UTI) and kidney stones. Last year, the company obtained European Union CE Mark certification for the Olive KG, followed by the first orders for the device from European organizations.

Published by Globes, Israel business news – en.globes.co.il – on March 9, 2023.

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