Water Intel. Regulatory News (WATR)

Revolutionizing water leak detection: Water Intelligence partners with StreamLabs, Inc., to bolster water damage prevention services

Water Intelligence plc (AIM: WATR.L) ("WI" or "Group"), is pleased to announce a strategic partnership between its core American Leak Detection ("ALD") business and StreamLabs, Inc.

ALD (www.americanleakdetection.com) is a leading multinational provider of precision, minimally invasive leak detection and remediation solutions for both potable and non-potable water. StreamLabs, a Chubb company, (www.streamlabswater.com) is a leading provider of patented, state-of-the art water usage monitoring, leak detection and water shut-off solutions for commercial and residential properties. Chubb is a world leader in insurance. Both companies have a significant presence in the U.S. insurance market. 

With StreamLabs' range of high-quality products and competitive price points, the partnership expands ALD's market-leading leak detection and after care services by offering integrated water monitoring technology to its homeowner, business owner and property management clients throughout North America. Predicting and preventing water damage not only helps to preserve one of the world's most precious resources, but also enhances conservation efforts for environmentally conscious smart-home owners.

Dr. Patrick DeSouza, Executive Chairman of Water Intelligence stated, "This partnership conveys our commitment to providing turnkey, end-to-end water leak detection products and services for home and business owners. We believe that StreamLabs will provide the most reliable functionality in geographies across the U.S. StreamLabs is deeply rooted in the insurance industry and understands the value-added service provided by water leak risk mitigation solutions for insurers, and their clients. We are excited by the opportunity and growth possibilities."

ALD provides proprietary technology-based solutions to pinpoint and repair water leaks to over 200,000 residential and commercial customers through its operations in 150 locations across 46 states of the United States. It currently has contracts with the leading 20 insurance companies in the U.S. Moreover, ALD has a world-class operating system via its Salesforce platform ensuring the highest level of data security for customers. ALD will also leverage SEEEN plc video technology to promote "one-click" purchasing of StreamLabs products and promote preventive maintenance training.

"ALD's unrivalled service network and decades of risk mitigation expertise combined with StreamLabs' state-of-the-art water leak monitoring technology empowers property owners and risk managers with real-time, data-driven insights to understand water consumption and often prevent water damage before it occurs," said Frank Mess, Senior Vice President, Officer and Co-Founder of StreamLabs, Inc. "Together, we're not just responding to water damage after it occurs, we're redefining how water is managed and safeguarded while protecting homes and keeping businesses operating."

StreamLabs offers leading Internet of Things (IoT) enabled water monitoring, leak detection and water shut-off products which use patented and proprietary ultrasonic technology to monitor waterflow and alert property owners to potential water damage. Its mobile app enables users to manage alert settings for leaks and view historical and real-time water usage. The StreamLabs technology platform was built in the cloud and is modular by design, allowing integration with ALD's Salesforce platform.

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Water Intelligence plc

Laura Bass, Director, Strategic Finance Tel: +1 203 584-8240

Grant Thornton UK LLP - Nominated Adviser Tel: +44 (0) 20 7383 5100

Philip Secrett

Harrison Clarke

Ciara Donnelly

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

Jill Li

Elizabeth Evans

Daniel Saveski

Dowgate Capital Ltd - Joint Broker Tel: +44 (0)20 3903 7715

Stephen Norcross