Business
Solving the water leakage pro
Solving the water leakage pro.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n RNS Number : 6352X Water Intelligence PLC 09 December 2010 \n \n\nWater Intelligence plc (AIM: WATR)\n(\"Water Intelligence\" or the \"Company\")\n \n \nNew solutions in sight to the continuing problem of water leakage\nWater Intelligence, the leading provider of water monitoring, leak detection and remediation services, is poised to launch new product and technology solutions to help solve the UK's water leakage problem, which was highlighted once again this week in the latest sector review by OFWAT, the water regulator for England and Wales. \nAt Water Intelligence, two products are currently in development for both domestic and commercial applications. These products, which the Company intends marketing in 2011, will address larger scale leakage issues and allow individual commercial and domestic consumers to monitor their own water consumption patterns in real time. \n \nIn its update to analysts and investors in the water sector on Wednesday, OFWAT said that the cold winter last year had led to six water companies failing to meet their leakage targets and being put \"on watch\" by the regulator. Fines levied by OFWAT on companies that had failed to meet their leakage targets last year totalled £195 million.\n \nStan Berenbaum, Chief Executive of Water Intelligence, commented: \n \n\"Water companies throughout the UK and in the US are actively reducing leakage both on the mains and customer side. For many of these companies, however, they need to be able to show that the benefits to be derived from such water savings exceed the costs of further leakage reduction. \n \n\"I believe that over the next 10 years, lower-cost, economical leak detection and monitoring solutions will be a major component in helping solve water leakage issues. These leakage and monitoring products we have in development are designed to complement our growing leak detection service businesses in the UK and US.\" \n9 December 2010\n \n \n \nENQUIRIES:\n \n\n\n\n\nWater Intelligence plc\n\n\n\n\n\n\n\nPatrick DeSouza, Executive Chairman\n\n\nTel: +1 203 654 5426\n\n\n\n\nStanford Berenbaum, Chief Executive Officer\n\n\nTel: +1 760 969 6830\n\n\n\n\n\n\n\n\n\n\n\n\nCollege Hill\n\n\nTel: +44 20 7457 2020\n\n\n\n\nGareth David\n\n\n\n\n\n\n\n \n\nThis information is provided b...