Water Intelligence PLC President Biden Water Infrastructure Plan
06 Abril 2021 - 1:00AM
RNS Non-Regulatory
TIDMWATR
Water Intelligence PLC
06 April 2021
Water Intelligence plc
President Biden Water Infrastructure Plan and
Water Intelligence Strategic Opportunities
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 is pleased to provide a market
update regarding the implications for the Group of the American
Jobs Plan (the "Plan") announced 31 March.
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.
The Plan provides, as one cornerstone, investment of at least
USD$110 billion for rebuilding water infrastructure. The Plan
focuses on aging 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.
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.
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 its UK-based municipal business - Water
Intelligence International ("WII") - to provide water
infrastructure solutions to various cities in the U.S.,
particularly Flint, Michigan which has been the epicenter for US
public attention regarding lead in drinking water. ALD plans to
invest further in this business line, leveraging the Group's
experience and track record to provide solutions to various
communities as part of the Plan.
Second, the Group plans to introduce its proprietary sewer and
wastewater diagnostic product into the US market later in the
second quarter as COVID restrictions ease. As previously announced,
the technology solution was showcased at last year's ALD Annual
Convention. Currently, WII has deployed the sewer diagnostic
technology at water utilities in the UK, where the product has been
designed and manufactured.
Third, the Group is exploring acquisitions with respect to
stormwater run-off solutions. ALD locations, especially in the
Western United States, see increasing demand given irrigation and
stormwater infrastructure problems. We expect that companies
offering solutions to these problems will be beneficiaries of the
Plan.
The Group's installed base of operations and salience of its
American Leak Detection brand across the United States will enable
it to provide leadership in diagnosing and fixing US water
infrastructure.
Executive Chairman Dr. Patrick DeSouza commented: "Our mission
has been to provide solutions and multinational leadership for
water infrastructure problems, both clean water and wastewater. We
have communicated and consistently delivered on our vision, as
evidenced by our record of compounded annual growth. Over the
course of our last five year plan, we have built a distribution
platform - "a One Stop Shop". We have done so organically at
American Leak Detection focusing on the residential and
business-to-business markets, especially insurance and property
management. We have also built our platform through acquisition,
especially with respect to the municipal solutions gained from our
UK-headquartered Water Intelligence International.
We are pleased to further develop our brand with the Green
Economy mark of the London Stock Exchange. Two weeks ago, we
announced the anticipated appointment of Dan Ewell to our board.
With Dan's significant financial markets experience, we can
accelerate our growth plan with institutional investors, especially
ESG investors. We can also explore corporate opportunities to
capture the increased market demand for water infrastructure
solutions; demand which will likely continue for the next decade,
accelerated by the Biden Plan's proposed investment."
Enquiries:
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
WH Ireland Limited - NOMAD & Broker Tel: +44 (0)207 220
1666
Adrian Hadden
James Sinclair-Ford
Matthew Chan
Dowgate Capital - Joint Broker Tel: +44 (0)20 3903
7721
Stephen Norcross
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