Odaily News Aqua1 Foundation issued a statement in response to recent rumors about its team and operations. The statement pointed out that Dave Lee had joined Aqua1 as co-founder and CEO in April 2025, and the team was highly aligned with its long-term vision. Aqua1 emphasized that the company operates independently and has no equity, financial or operational ties with any unrelated entity. The team is currently working with Middle Eastern institutions to advance the project, but some details have not been disclosed due to compliance requirements.