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WATR - Water Intelligence News Story

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Last Trade - 29/05/20

Sector
Industrials
Size
Micro Cap
Market Cap £44.8m
Enterprise Value £43.1m
Revenue £23.9m
Position in Universe 1154th / 1825

Water Intelligence - Proprietary Sewer Diagnostic Products and Covid-19

Wed 25th March, 2020 7:00am
RNS Number : 4625H
Water Intelligence PLC
25 March 2020
 

Water Intelligence plc 

Proprietary Sewer Diagnostic Products and Covid-19

Water Intelligence plc (AIM: WATR.L) ("Water Intelligence"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water, announces that to meet market demand, Water Intelligence will accelerate its Go-to-Market Plan with insurance company customers for its family of residential and municipal sewer diagnostic products in order to alleviate secondary problems emerging from Covid-19 public health crisis.   

The principal operating business of Water Intelligence - American Leak Detection ("ALD") - is continuing to operate throughout the US in order to deliver "essential services" during this time of unprecedented home usage as our customers "shelter in place".   In providing essential services to address water and wastewater problems, ALD is operating in line with policies to serve the public good during the crisis.

As announced in its 2019 Trading Update, Water Intelligence has been investing in a family of proprietary acoustic products to diagnose sewer and wastewater problems.  The products identify and analyse blockages much faster than conventional methods which are typically manual. As a result of Covid-19 and shelter in place policies, there has been a spike across the United States and the UK in sewer-related problems as aging residential wastewater pipes are getting clogged from disinfecting wipes and paper towels as homeowners try to stay safe from Covid-19.  Such clogs are producing second order public health problems.

Water Intelligence's strong balance sheet enables it to work with its national insurance company partners to accelerate the delivery of its family of products and solutions for sewer and wastewater issues. 

Executive Chairman, Dr. Patrick DeSouza remarked:

"We look forward to contributing solutions to the collateral public health issues arising from the Covid-19 crisis, such as sewer backup and wastewater overflow. Because of our residential and municipal services footprint in 46 states of the U.S., UK, Canada and Australia, we can make a difference with our new technologies for minimally invasive sewer diagnostics.  

Of note, March 22nd was the UN's World Water Day. While our company's mission has largely been focused on the conservation of clean water through minimally invasive leak detection, we are increasingly and painfully aware of the strong global demand for solving wastewater-related infrastructure problems.  We appreciate UNICEF's leadership regarding a broader mandate to "WASH" - Water, Sanitation and Hygiene.  With our new product line, we are well-positioned to provide solutions both for potable and non-potable water problems and to expand our mission from advancing water conservation to also advancing public health."

Enquiries:

Water Intelligence plc


Patrick DeSouza, Executive Chairman

Tel: +1 203 654 5426

Adrian Hargrave, VP Corporate Development

 

+44 (0) 7775 701 838

WH Ireland Limited - NOMAD & Broker

Tel: +44 (0) 207 220 1666

Adrian Hadden


James Sinclair-Ford


Matthew Chan




Dowgate Capital - Joint Broker

Tel: +44 (0)20 3903 772

Stephen Norcross




 


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