Solving the water leakage pro

RNS Number : 6352X

Water Intelligence PLC

09 December 2010

 



Water Intelligence plc (AIM: WATR)

("Water Intelligence" or the "Company")

New solutions in sight to the continuing problem of water leakage

Water Intelligence, the leading provider of water monitoring, leak detection and remediation services, is poised to launch new product and technology solutions to help solve the UK's water leakage problem, which was highlighted once again this week in the latest sector review by OFWAT, the water regulator for England and Wales. 

At Water Intelligence, two products are currently in development for both domestic and commercial applications. These products, which the Company intends marketing in 2011, will address larger scale leakage issues and allow individual commercial and domestic consumers to monitor their own water consumption patterns in real time.

In its update to analysts and investors in the water sector on Wednesday, OFWAT said that the cold winter last year had led to six water companies failing to meet their leakage targets and being put "on watch" by the regulator. Fines levied by OFWAT on companies that had failed to meet their leakage targets last year totalled £195 million.

Stan Berenbaum, Chief Executive of Water Intelligence, commented:

"Water companies throughout the UK and in the US are actively reducing leakage both on the mains and customer side. For many of these companies, however, they need to be able to show that the benefits to be derived from such water savings exceed the costs of further leakage reduction. 

"I believe that over the next 10 years, lower-cost, economical leak detection and monitoring solutions will be a major component in helping solve water leakage issues. These leakage and monitoring products we have in development are designed to complement our growing leak detection service businesses in the UK and US." 

9 December 2010

ENQUIRIES:

Water Intelligence plc
Patrick DeSouza, Executive Chairman	Tel: [phone]
Stanford Berenbaum, Chief Executive Officer	Tel: [phone]
College Hill	Tel: [phone]
Gareth David

 

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