Element Four, a small Canadian firm, has applied its water technology to create the WaterMill, a novel electricity-powered machine that draws moisture from the air and purifies it into clean, drinkable water.

In a world where one out of five people are without access to clean drinking water, this new technology could potentially improve the lives of billions of people from third-world countries.

The WaterMill, which retails at $1300, is intended for household use only, but the company is designing a larger version called the WaterWall for the developing world, which would be large enough to supply water to a small village.

It’s early, but the company’s core principle is “to do good as we do well,” CEO Rick Howard says. “That’s part of truly what drives us — knowing that at some point we will be able to do some significant good.”

Read more at CNN online.