Last checked at 23 Aug 2011 07:00
Water Intelligence plc (AIM: WATR.L)
("Water Intelligence", "the Company" or "the Group")
Thames Water backs development and commercialisation of new leak detection product
Water Intelligence is a leading provider of water monitoring products and leak detection and remediation services. The Group develops and manufactures detection products in the UK, and has service operations throughout the US and six other countries, including Australia and Canada, with plans for further international expansion.
Thames Water has become the second major UK water utility to back the development and commercialisation by Water Intelligence of a new hi-tech device that will allow metered domestic water users to monitor their own water use and identify quickly when a leak has occurred.
Following the previously-announced backing from South West Water (14 June), Thames Water will also be providing financial and technical support to the Company's development of its "Domestic Reporter" product, which is scheduled for release in late 2011 / early 2012.
Domestic Reporter is a new wireless product designed to allow households to monitor water usage, usage over the previous day, week or month and the projected cost of their annual water bill, based on the usage at that time.
The device will enable the home owner to understand their own profile of water usage as well as alerting the home owner to a leak and indication in almost real-time the flow rate of water. The Domestic Reporter product can be easily fitted to a standard pulse water meter by the home owner.
Water Intelligence previously worked with Thames Water in the development of its earlier "Leakfrog" leak detection product, with the most recent delivery of Leakfrogs to Thames Water being in March 2011.
Dr. Patrick DeSouza, Executive Chairman of Water Intelligence, commented:
"I am delighted that Thames Water has chosen to join South West Water in supporting our latest development plans. Together the two utilities serve more than 10.4 million customers, offering us a huge market opportunity for an easy-to-use product designed to help reduce water consumption and to address the continuing problem of water leakage."
23 August 2011
ENQUIRIES:
Water Intelligence plc (www.waterintelligence.co.uk) | |
Patrick DeSouza, Executive Chairman | Tel: +1 203 654 5426 |
Merchant Securities Limited | |
David Worlidge | Tel: +44 20 7628 2200 |
College Hill | Tel: +44 20 7457 2020 |
Gareth David |