For Water Utilities and Project Owners · General InformationPrivate capital for water infrastructure,
Pipeline to water treatment plant, Evangelos Mpikakis / UnsplashFOR GENERAL INFORMATION ONLY. Nothing on this site constitutes an offer to sell, a solicitation to buy, or investment advice. WaterFundable PBC is not a registered investment advisor, broker dealer, or placement agent.
This page provides general educational information about how water utilities access private capital markets through bond aggregation structures. This is not an application, a screening process, or a financial commitment of any kind.
General Information Only. The descriptions below explain how aggregated water bond structures generally work. They do not constitute a solicitation, financial advice, or any guarantee of financing availability.
No federal capital is in this structure. That is intentional.
This structure is fully private. The institutional layer is a blue climate bond issued to qualified institutional buyers. The yield subsidy pool is funded by foundations, corporate water stewards, and biodiversity credit proceeds, confirmed separately before bond issuance. No federal appropriations, SRF allocations, or grant program timelines are required. Bond proceeds fund construction capital and, where the project qualifies, a portion of ongoing operations and maintenance costs. Communities move forward when their projects are ready, not when a federal queue clears.
State Revolving Fund waitlists run 18 to 36 months in most states. PFAS compliance, lead service line replacement, and stormwater regulations are consuming available capacity. A standalone project under $20 million has no practical path to private capital markets on its own. Market rate financing at 5 to 7 percent adds debt service that most rate bases cannot absorb without a rate increase that is politically impossible.
The math does not work. The project does not move. The community pays, in deferred maintenance, rate shock, or both.
Every piece of the solution already exists. Institutional investors want water assets. Corporations have pledged billions for water stewardship. Bond markets work. What has been missing is the middle office that aggregates, verifies, and connects these capital sources into something a water utility can actually use. WaterFundable is building that middle office.
Blue water main, Rose Galloway Green / UnsplashWaterFundable assembles utility projects in the same watershed into a single, larger portfolio. You choose which projects to include, no full capital improvement plan commitment required.
Before any bond is issued, WaterFundable confirms and locks a yield subsidy pool from foundations, corporate water stewards, and biodiversity credit proceeds. This separately managed pool reduces the effective interest rate utilities pay throughout the life of the bond from market rate to 3 to 4 percent.
With the yield subsidy confirmed and held separately, a registered broker-dealer issues the CBI-certified blue climate bond to qualified institutional buyers. WaterFundable PBC has packaged and delivered the portfolio to the issuer. Bond proceeds fund your construction and qualifying O&M. The separately managed yield subsidy makes your effective rate 3 to 4 percent instead of 5 to 7 percent at market.
After bond close, the WaterFundable Trust serves as the dedicated back office for the full 20 to 30 year bond term: covenant compliance, yield subsidy payments, construction milestone tracking, environmental monitoring, and regulatory reporting. No new systems for your team. No federal grant timelines to manage.
The information below describes general characteristics of projects that bond aggregation structures typically address. It is not a screening result or a commitment.
| Project Types | Drinking water treatment and distribution, wastewater and water reuse, stormwater infrastructure, lead service line replacement, green and gray infrastructure, nature-based solutions |
| Project Size | Generally $1 million to $100 million per project |
| Credit Quality | BBB+ or equivalent, or projects serving utilities at that credit quality |
| Priority Basins | 19 regions across the United States as identified by the Water Resilience Coalition |
| Construction Timeline | Projects typically hold engineering permits or sit within 12 months of breaking ground |
| Bond Term | Generally 20 to 30 years, aligned to infrastructure asset life |
| Effective Rate | 3 to 4 percent to the utility after yield subsidy, compared to 5 to 7 percent at market without it |
| Bond Proceeds | Fund construction capital and, where project structure supports it, a portion of ongoing operations and maintenance costs, reducing the long-term financial burden on utility rate bases |
| What Stays Yours | Project ownership, operations, your existing engineer, your legal team, your rate-setting authority |
We are building this program and want to understand the financing barriers utilities actually face. We are not asking for a commitment. We are asking for a conversation.