Business
Southern Water agreement
Southern Water agreement.
About this update from Ondo Insur Tech Plc
[{"type":"text","content":"\n\n9th August 2023\n \nOndo InsurTech Plc (\"Ondo\" or \"the Company\")\n \nSecond water company to introduce LeakBot - Southern Water agreement announced\n \nOndo InsurTech Plc (\"Ondo\"), the London-listed leader in claims prevention technology for home insurers, is pleased to announce an agreement with Southern Water to drive water efficiency within their area.\n \nSouthern Water will carry out an initial pilot in the coming months and introduce LeakBot to over 1k customers within their area, with the aim of achieving similar water reduction results as the Portsmouth Water trial carried out earlier in the year.\n \nLeakBot achieved a 60% reduction in water leaks within the Portsmouth Water area, which is estimated to equate to 24 litres per day, or 67% of the 36 litres/day Ofwat target. The results were announced at the Spring Innovation Showcase in June, attended by over 100 professionals in the water industry, including representatives from all UK water companies.\n \nSouthern Water provides water to over 2.5 million homes. Based on the Portsmouth Water findings, if LeakBot were rolled out to Southern Water customers 83 megalitres of water a day could be saved, the equivalent of 32 Olympic swimming pools.\n \nTim McMahon, Managing Director of Water at Southern Water says: \"There has never been a more pressing time to save every drop of water. The South East is officially water stressed. Climate change, causing hotter summers and less rainfall, and population growth means we have more people and less water to go around. So, we must act to reduce water wastage. \n \nWe're working with our customers reduce water use and are exploring new technology to help us find and fix more leaks quickly in our network. We've been impressed by the results of the activity we've seen so far from LeakBot and we're looking forward to seeing the impact this technology could have on reducing leaks and improving engagement in the Southern Water area.\"\n \nCraig Foster, Ondo CEO, says: \"We're increasingly excited about the opportunity to work with water companies to reduce water wasted through leaks. When combining the business cases for both water companies and insurers, we have a proposition which could scale quickly and really add benefit to both industries and their customers. To...