10.09.2026
- News & Press Releases
Incofin’s water fund makes its third global investment, backing the Thai company bringing drinking water to nearly a million people
The EUR 5 million investment in Water POG is the third for the Water Access Acceleration Fund, the world’s first private equity fund dedicated to drinking water.
After World Water Week closed in Stockholm with calls to bring more private capital into safe drinking water, Incofin Investment Management’s Water Access Acceleration Fund (W2AF) has invested EUR 5 million in Water POG Co. Ltd., a Thai company that builds and maintains village-scale drinking water systems.
An estimated 2.2 billion people worldwide still lack access to safely managed drinking water, according to WHO and UNICEF, and most of them live in rural areas that centralised utilities struggle to reach. Water POG was founded in 2018 to close that gap in Thailand. Its modular water treatment systems can be deployed in a few months on small plots of land, and treat both ground and surface water across a wide range of source conditions. Units are monitored remotely and run on a mix of solar and grid power.
The company today operates more than 1,100 installations across 70 of Thailand’s provinces, serving over 960,000 people and providing over 630 million liters of safe drinking water annually.
The investment will fund working capital, commercialization of innovative treatment technologies and project execution as Water POG expands, and will support senior finance hires and stronger ESG governance as the company grows.
It is the third investment for W2AF and its first in Southeast Asia, following Rite Water Solutions in India and SPOUTS International in Uganda and Rwanda. Together, those two companies delivered 7.5 billion litres of drinking water to 12.7 million people in the twelve months to June 2026. The fund aims to bring safe drinking water to 30 million people by 2030.
At W2AF, we seek to invest in businesses that sit at the intersection of strong fundamentals and transformative impact. Water POG embodies that vision. The company has established itself as a critical provider of drinking water and is well positioned for its next stage of growth. We are delighted to partner with the management team and look forward to supporting the company's ambition to expand access to safe water for communities across rural Thailand.
Aparna PittiePartner & Fund Manager, W2AF
We are excited to welcome W2AF as a partner in Water POG's next phase of growth. Beyond capital, we value W2AF's sector expertise and network, long-term perspective and shared commitment to expanding access to safe drinking water. Together, we look forward to accelerating our impact and reaching more underserved areas across Thailand.
Krittawat LuenramCEO, Water, POG
Notes to editors
The announcement follows World Water Week 2026 (23-27 August, Stockholm), held under the theme “Water for People and Progress”, and comes ahead of the UN 2026 Water Conference in December.
About Water POG
Water POG Co., Ltd. is a Thai water infrastructure company founded in 2018 by a team of Thai engineers and entrepreneurs. The company designs, installs and maintains modular drinking water systems for villages and peri-urban communities, and complements these with upgrades to existing water schemes and low-energy purification for highly contaminated sources.
About the Water Access Acceleration Fund (W2AF)
W2AF is the first private equity fund dedicated to safe drinking water. Launched by Incofin Investment Management in 2023 and initiated in partnership with Danone Communities, the blended finance fund reached its final close at EUR 61 million in April 2025, above its EUR 50 million target. Its investors include development finance institutions, foundations, corporates and private investors. W2AF invests across the drinking water value chain in Africa, Asia and Latin America, with the goal of reaching 30 million people by 2030.
About Incofin Investment Management
Incofin Investment Management is an impact investor with roots going back to 1992, founded in Belgium, with offices in Colombia, Kenya and India. It invests in inclusive finance, sustainable food and safe drinking water across emerging markets.
Since inception, Incofin has deployed over USD 5 billion in 80 countries. It currently manages over USD 1 billion of assets, and every dollar aims to expand opportunity, strengthen resilience, and improve lives.
Press contact
Shonan Kothari, Marketing and Communications Manager, Incofin Investment Management – press@incofin.com