Business
Non Regulatory Announcement
Non Regulatory Announcement.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \nRNS Number : 9670F Water Intelligence PLC 05 May 2011 \n \n\n \n \nWater Intelligence plc (AIM: WATR)\n(\"Water Intelligence\" or the \"Group\")\n \nWater Intelligence opens Company-operated activities in Connecticut & Sells Franchise for New York City to Strategic Partner\n \nIntroduction\nWater Intelligence, a leading provider of water monitoring products and leak detection and remediation services, announces the opening of Company-operated activities in Connecticut and the sale of a franchise for New York City.\n \nIn the Trading Update of 2 March 2011, the Board reported that in the Second Half of 2010 the North East Region was one of the fastest growing regions in the United States for franchisee royalties, recording a 10% increase over the same period in 2009.\n \nConnecticut\nAs identified in the Board's plans at the time of the Reverse Acquisition of Qonnectis plc and Admission to AIM in July 2010, the Company, through its principal operating subsidiary, American Leak Detection (\"ALD\"), has opened Company-operated activities in New Haven, Connecticut.\n \nThis is the fifth such operation. The others are in Palm Springs, San Bernardino, Boston and Fort Lauderdale.\n \nStaff have been recruited in Connecticut and currently being trained in ALD procedures. A sales pipeline has been developed. Trading will commence imminently.\n \nNew York City\nALD has sold the franchise for New York City to a strategic partner, a private company led by Faye Huang. Ms. Huang is a successful businesswoman, civic leader and is currently involved in creating business opportunities between the US and Asia. Ms. Huang is also a member of the California Workforce Investment Board (\"CWIB\"), having been appointed by former Governor Arnold Schwarzenegger. The CWIB promotes economic development and job creation, especially green-collar jobs, through public, educational and private partnerships. \n \nThe Group believes that New York City will be an important market for the growth of WI's product and services business. Mayor Bloomberg has made the elimination of water loss an important public issue with his announced Water Leak Notification program for homeowners and a US $250 million city investment in meter readers. Ms. Huang and her team are already work...