Water Intel. Regulatory News (WATR)

Water Intelligence plc

Home Builder National Account Win

Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or "Company"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water is pleased to announce the launch of a new national account channel for its American Leak Detection (ALD) subsidiary. ALD will be leveraging both its platform of more than 150 locations across 46 states of the United States and its standardized workflow across its operating geographies to provide water and wastewater solutions for a leading home builder in the Midwest United States.

To date, the Group has focused on developing a national account channel for the insurance market. It has also won channel accounts for the property management market. With today's win, ALD will be entering a new complementary channel, working with a leading home builder in the Midwest on new construction projects. ALD will first install and then test water and sewer lines for leaks using ALD's proprietary technology. The commercial relationship is expected to increase Group sales over the next 12 months by $1 million or more. ALD expects the relationship to continue to grow over time as market demand for new homes outside of urban areas increases following COVID-19.

Executive Chairman, Dr. Patrick DeSouza commented: "The Group's precision leak detection and minimally invasive repair solutions are in high demand as both the price of water goes up and wastewater management regulation increases. Such regulatory trends are now translating into requirements for home builders with respect to sustainable design and deployment of water and sewer lines.

Over the last five years, we have built a national account channel with insurance companies and established a track record that emphasizes: minimally invasive technology solutions; automated delivery anywhere, anytime across the US via our Salesforce implementation; standardized workflow; and data security. We look forward to increasing our national accounts with home builders, leveraging the same process that we have developed with national and regional insurance companies."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014

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