"We want to keep growing as a global leader of efficiency in the water industry"
Miya is a global water operator that specializes in water efficiency, commercial management and water treatment. Created in 2008, the company had a clear mission: to ensure water abundance through efficient water management. Present in many countries around the world, it now aims to enter the water market in the MENA region, South East Asia, LATAM and European countries like Greece.
Noam Komy, the current CEO of Miya, began his career in law, specializing in utilities and administrative and environmental issues. He then joined Miya in 2013 and served as the firm’s VP of Strategy and Corporate Development and CGO and is now serving as its Chief Executive Officer from Abu Dhabi. Smart Water Magazine had the opportunity to speak with him about Miya’s most recent trajectory and the company’s future business plans.
First of all, we would like to hear more about your career path to your current position.
I joined MIYA in 2013, serving as Miya’s VP of Strategy and Corporate Development and Chief Growth Officer. I was in charge of leading Miya’s M&A activities and the group’s overall strategy. Since 2022, I became partner in Miya and its new CEO. Since then, Miya has become both a market leader in the field of water efficiency and a leading water operator. In 2016 we purchased Indaqua and since then its value has grown approximately ten-fold. This growth was achieved mainly due the improvement in overall efficiency and without performing any cost cuttings that affected HR or substantial increases in tariffs that affected clients. This summer we decided that after such an increase in value, it is time for us to exit from that investment and seek new opportunities.
What are the main challenges you face in your position as CEO of Miya?
This summer we decided that after such an increase in value, it is time for us to exit from that investment and seek new opportunities
I became CEO of Miya in July 2022. We want to keep growing as a global leader of efficiency in the water industry. We will also seek new opportunities to do what we did in Indaqua, making a good water company a great water company that delivers superior results. I would say our biggest challenge is to convince the water industry and decision makers on the public and private side that efficiency is the most important challenge we face and that without getting more from our current resources we will face scarcity at unprecedented levels.
What markets is the company currently focused on?
We will also seek new opportunities to do what we did in Indaqua, making a good water company a great water company
Miya is a company ready and willing to operate anywhere around the world. Currently we are mainly focused on the Caribbean as we already know the area extremely well. We have just come back for the 31st CWWA Congress held in The Bahamas, and I have to say that it was a complete success and an honour to see how the Caribbean countries see our performance both in Jamaica and the Bahamas in recent years. So, now we aim to increase our market share in the region as well as to explore new markets such as the MENA region, South East Asia, LATAM and some new countries in Europe like Greece, where non-revenue water (NRW) is getting the attention of local authorities and we are in an advanced stage in several projects.
What is Miya's position in Spain and what are its next steps?
We know that the Spanish market is very mature. We have been developing a strategy for the last three years in Spain, achieving a very good response regarding our business model and we look forward to gaining projects in the near future. However, we know it will take time, but we will keep trying. We are more than capable of implementing water efficiency projects in Spain.
One of the markets with the most opportunities at the moment is Latin America and the Caribbean. What is Miya's interest in this area, and what kind of projects does the company focus on?
We have a strong presence in the area as reflected in our projects in Kingston, Saint Andrews and Portmore, in Jamaica, as well as in Nassau, in the Bahamas. We consider ourselves to be the leading company in non-revenue water and efficiency projects in the Caribbean area. We have more than 10 years’ experience in the region, with excellent results. The firm mainly focuses on NRW and efficiency projects.
Our biggest challenge is to convince the water industry and decision makers that efficiency is the most important challenge we face
At the CWWA Congress, we were reminded of the low levels of water efficiency in the Caribbean and LATAM, and it is where our skills and capabilities are most needed. These are the countries which stand to gain the most from improvements in their water distribution systems. Shortly, we hope to announce new projects in the region.
Another of the markets in which the company is focusing its interest is the Middle East. What are Miya's prospects in this respect?
The Middle East has always been an area where the company has shown great interest. Water is extremely scarce, and the cost of water production is very high. We are in negotiations with the main water authorities in the region. Based on our knowledge, we consider that our business model (performance-based and efficiency projects) can be adjusted extremely well to suit the particular needs of the region.
Moreover, I would like to announce that last summer I moved to Abu Dhabi, UAE, and I hope to bring Miya’s expertise to the region and develop and increase our company´s presence in the region.
Miya has been well known for its commitment to performance-based contracts for the reduction of non-revenue water (NRW). How important are these types of contracts in Miya's current strategy?
We are the world-leading company in the execution of performance-based contracts in efficiency projects (NRW). We have more than 15 years’ experience. We have developed more than 200 project across the world. Our business model is unique, and we want to maintain it and more importantly, to improve it and carry out more projects with the aim of improving the quality of life and ensuring that all citizens around the world have access to reliable and safe water in their homes. We strongly believe that a model that requires the private sector to deliver results is critical to achieve them.
What other niche markets is Miya interested in in the short term?
We will continue to focus on the water market. It is our hallmark and it is the market where we feel most comfortable. However, I would like to announce that since this summer, we have invested in an Israeli technology company, Xfloat, dedicated to providing floating PV system solutions. Xfloat’s floating panels produce more than any other alternative as they use advanced tracking and AI.
This summer we invested in an Israeli technology company, Xfloat, dedicated to providing floating PV system solutions
We have the exclusive right to represent them in Spain and Portugal. We have held various meetings with potential partners and clients. We are very excited with this new phase and we will keep you informed.
Finally, what are the company's future plans and how would you like to see Miya in three years' time?
We have clear plans; our intention is to grow and continue developing efficiency projects around the world. We will also be keen to partner with financial players to purchase and improve water utilities around the world as we did in Indaqua. In addition, we are going to start developing the floating solar panel business.
In three years’ time I would like to see Miya as a key player in the water industry, with more efficiency projects in the Caribbean and the Middle East, and hopefully repeat its previous success stories.