RCS - Water Intelligence - New Products Update and Notice of Results

Water IntelligenceAnnouncement

11/09/2023 07:00

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RNS Number : 9363L  Water Intelligence PLC  11 September 2023

Water Intelligence plc

Update on Commercialization of New Technology Products

and

Notice of Results

Water Intelligence plc (AIM: WATR.L) (the "Group" or "Water Intelligence"), a
leading multinational provider of precision, minimally-invasive leak detection
and remediation solutions for both potable and non-potable water, is pleased
to announce that four (4) technology products in which the Group has
previously invested are now gaining increased commercial traction.

Such traction reinforces Water Intelligence's 2024 sales plan and the Group's
business model as a "one stop shop" for a broad range of customer solutions
for both clean water and wastewater infrastructure.

New Technology Products

·    IntelliDitch: IntelliDitch is a proprietary liner product that slips
over concrete or earthen channels used to convey water.  The product prevents
water loss through leakage and enables much more efficient movement of water
in a channel.  Use cases range from irrigation to storm water run-off.
After completing tooling in H1, the Group launched its go to market phase by
teaming up with a major engineering company in the US to execute a project in
Colorado.  The project has had an initial sale of over $0.1 million.  The
product has a growing sales pipeline based on strong flow data from its
initial sale.

·    Pulse:  Pulse is a proprietary tool based on acoustic technology
that pinpoints sewer line blockages much faster and more accurately than
conventional video camera technology.  During Q2 and Q3 "Municipal Pulse"
(the municipal oriented version) has gained traction with major UK water
companies achieving over $0.5 million in sales and a growing sales pipeline.
The Group has also created a residential version of Pulse and during Q2 and
Q3, the Group successfully commercially tested the product in the US with
various residential customers.

·    LS1:  "LS1" (to be branded during Q4) is an acoustic device that
enables rapid surveys of urban water and wastewater infrastructure.  The
device has been designed to minimize the cost of skilled labour for
infrastructure surveys. LS1 is currently being used at three different UK
water utilities with initial sales of over $0.1 million. LS1 has a growing
sales pipeline based on data from its initial sales.

·    CreatorSuite 2.0:  CreatorSuite is an AI video ecommerce tool
developed by the Group's affiliated entity - SEEEN plc.  CreatorSuite enables
the Group to make video moments of its products and services with "end-cards"
that more efficiently convert leads into purchases. The product has been
tested in various business-to-business channels with significant improvement
in lead conversion.  Water Intelligence has an exclusive license to the tool
for the field of water and wastewater.

On Thursday, 14 September, the Group will be participating in a technology day
organized by SEEEN plc (www.seeen.com (http://www.seeen.com) /techday) to
demonstrate the use of SEEEN's video technology by its various customers
ranging from sports teams to advertising companies. As part of Technology Day,
there will be a demonstration of how SEEEN's technology will be combined with
the Group's Salesforce.com customer management software for "one-click"
purchasing of water and wastewater -related products and services and "another
click" for scheduling of services or installation of products across the
United States.

Notice of Results. The Group will be releasing its interim results on Tuesday,
19 September.

Commenting on the Group's New Technology Product Update, Executive Chairman,
Dr. Patrick DeSouza remarked:

"Our core business - American Leak Detection - is in a unique strategic
position to create a true distribution platform for services and products. We
have a sales footprint across the United States with approximately $150
million of annual gross sales in the US and growing, with national insurance
channels and service calls to over 200,000 homes each year.

Most importantly, we address the first question that homeowners have along
their customer journey to address all of their respective water and wastewater
infrastructure needs: 'Do I have a leak and can you find it with minimal
damage?'  While on the job site to solve this first question with our
proprietary minimally-invasive technology solutions, homeowners often ask our
technicians for additional technology solutions to remediate or prevent other
related water problems.  To address these additional customer needs, we have
previously invested in the technology products described today.  The
commercialisation results indicate that they will add to our future growth.
Moreover, with our video ecommerce offering and Salesforce CRM software, we
will also be able to work with third-party product partners to help customers
in real-time while on the job site by offering more solutions, thus enabling
continuous customer engagement which increases the lifetime value of each
customer.

Given our initial success in terms of sales and the data showing the value
that these offerings bring, we will accelerate the roll-out of these new
offerings as part of our 2024 sales plan, reinforcing our technology
leadership for transforming the delivery of water infrastructure solutions."

 

Enquiries:

 Water Intelligence plc
 Patrick DeSouza, Executive Chairman                 Tel: +1 203 654 5426
 WH Ireland Limited - NOMAD & Joint Broker           Tel: +44 (0)20 7220 1666

Hugh Morgan

 James Bavister

 RBC Capital Markets - Joint Broker                  Tel: +44 (0)20 7653 4000
 Rupert Walford

Elizabeth Evans

Daniel Saveski
                                                                     Tel:  +44 (0)20 3903 7715

 Dowgate Capital Ltd - Joint Broker

Stephen Norcross

 

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