10:17 AM EDT, 07/10/2024 (MT Newswires) -- Xylem (XYL) plans to expand corporate venture investing with $50 million to support emerging companies and water-service providers to tackle water scarcity, quality and decarbonization.

Xylem said Wednesday it plans to invest directly in startups with novel technologies and in specialty venture capital funds focused on advanced treatment, digital technology and water system management services.

Shares of Xylem rose 0.5% in recent Wednesday trading.

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