Business
President Biden Water Infrastructure Plan
President Biden Water Infrastructure Plan.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4526U\n Water Intelligence PLC\n 06 April 2021\n \n \n \n \n Water Intelligence plc\n \n \n President Biden Water Infrastructure Plan and \n \n \n Water Intelligence Strategic Opportunities\n \n \n \n \n \n Water Intelligence plc (AIM: WATR.L) (the \"Group\" or \"Water Intelligence\"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water \n is pleased to provide a market update regarding the implications for the Group of the American Jobs Plan (the \"Plan\") announced 31 March. \n \n \n The Biden Administration seeks to modernize America's drinking water, wastewater, and stormwater systems, tackle new contaminants, and support clean water infrastructure across rural America. \n \n \n The Plan provides, as one cornerstone, investment of at least USD$110 billion for rebuilding water infrastructure. The Plan focuses on aging \n pipes and treatment plants, especially targeting the estimated six to ten million homes that still receive drinking water through lead pipes and service lines. The Plan's goal is to replace 100 percent of the nation's lead pipes and service lines. President Biden has asked Congress to immediately invest USD$45 billion in the Environmental Protection Agency's Drinking Water State Revolving Fund and in Water Infrastructure Improvements for the Nation Act (WIIN) grants. \n \n \n As a result of this anticipated increase in demand for the Group's water infrastructure solutions, the Group will be accelerating its strategic growth plan announced in February's 2020 Trading Update. Moreover, the Group will be reviewing acquisition opportunities previously identified with respect to UK and EU water product companies seeking to gain access to the US market through the Group's 150+ locations across 46 states of the United States.\n \n \n The Group is well-positioned across its business units to provide solutions for the water infrastructure problems identified by the Plan. First, the Group's subsidiary American Leak Detection (\"ALD\"), is the only nationwide provider of precision leak detection and repair solutions reaching over 200,000 homes annually including in rural America. Over the last two years, ALD has drawn upon the expertise of i...