Hitachi Ventures Why water? Our interest in water stems from our broader environmental investment strategy, developed for our second fund, which targets all planetary boundaries – aiming for a decarbonized, resource-efficient and equitable society. Water is central to resource efficiency and circularity. It’s essential to stay within the “safe operating space” for humanity, and that means using water far more efficiently and sustainably. Hitachi Ventures is the corporate venture capital arm of Hitachi. With $1 billion in assets under management, Hitachi Ventures focuses on investing in early-stage and growth-stage technology companies with strategic relevance to Hitachi. Elena Ballesteros Rodado Associate, Hitachi Ventures Start by thinking beyond traditional water utility models. Water intersects, for example, with energy or manufacturing – it’s not just a cost centre but a potential value driver. There’s exciting innovation happening at the edges of these intersections. Water in Hitachi’s portfolio At Hitachi Ventures, our investments reflect our commitment to long-term sustainability and technological excellence. We focus on solutions that drive down costs, increase resource efficiency and are resilient across market cycles. We avoid feel-good or subsidy-reliant tech – we look for market-leading, disruptive innovations. Water aligns with this philosophy when the technologies meet our core criteria: economic rationale, category leadership, risk manageability and full life-cycle sustainability. While not every water tech fits, we actively look for those that do. Advice for first-time investors Look for founders who understand water as a systems challenge and try to find these crossovers. Engage with platforms such as the World Economic Forum, Imagine H2O Accelerator or the Water Tech Tour – these communities are where some of the most disruptive water innovations are emerging. There’s a lot happening under the radar, and the opportunity is bigger than it seems. Investing in Water: Aligning Investment Strategies with Water Innovation 23

Investing in Water Aligning Investment Strategies with Water Innovation 2025