Last checked at 21 Dec 2017 07:00
Water Intelligence plc
Strategic Relationships with Flo Technologies Inc. and Tagasuaris Inc. to bring Artificial Intelligence to Home Leak Detection
Water Intelligence plc (AIM: WATR.L), a leading provider of precision, minimally-invasive leak detection and remediation solutions for residential, commercial and municipal customers across the U.S., UK, Australia and Canada is pleased to announce that it has agreed on a strategic relationship with Flo Technologies, Inc. ("Flo"). Flo is a California-based technology company providing proactive water monitoring and control solutions for home water systems that protect the home, promote maintenance and empower conservation. Flo's solutions incorporate advanced machine learning technologies.
Flo and Water Intelligence's principal subsidiary, American Leak Detection ("ALD"), plan to provide products and services to residential customers and to insurance companies across the United States during 2018. The partnership will be more formally announced during the Consumer Electronics Show in early January in Las Vegas.
In support of this partnership, Water Intelligence has also agreed to work with Tagasauris, Inc. ("Tag"), a U.S.-based, leading provider of video artificial intelligence solutions. Tag will develop video e-commerce applications both for Water Intelligence and for the ALD - Flo partnership. Clients of Tag include major entertainment and media companies for monitoring and analyzing consumer engagement. The Tag application can be applied for home services.
Commenting, Chairman of Water Intelligence, Dr. Patrick DeSouza stated, "We are excited about these partnerships and the opportunity to take the Group's range of minimally invasive technology solutions to the next level with Flo products and Tag technology. Our strategic vision is to shape the future of residential engagement with water loss - an objective shared by the insurance industry and one that our business-to-business channel initiated in a focused way last year."
Gabriel Halimi, CEO and Co-Founder of Flo, added, "We are delighted to partner with American Leak Detection and share the same vision of preventing water loss - a global problem that is gaining increasing attention as the cost of water rises and lack of clean water becomes more pervasive. We believe that we complement ALD's leading precision leak detection service solutions."
Todd Carter, founder of Tag summarized, "We look forward to contributing to the ALD - Flo relationship. I have worked with Patrick DeSouza over the years on various advanced technology projects including for ALD. With Tag's video-AI technology, together, we can bring to the water management industry what Google is currently developing more generally for home services."
For further information about this announcement please contact:
Water Intelligence plc Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
finnCap Ltd Adrian Hargrave / Giles Rolls / Alex Price (Corporate Finance)Stephen Norcross (Corporate Broking) Tel: +44 (0)20 7220 0500