Water Intelligence PLC Initiation of Sales of Sewer Diagnostic Product (7527E)
November 10 2020 - 2:00AM
UK Regulatory
TIDMWATR
RNS Number : 7527E
Water Intelligence PLC
10 November 2020
Water Intelligence plc
Initiation of Commercial Sales of New Proprietary
Sewer Diagnostic Product
Brisbane Franchise Reacquisition Completed
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or
"Group"), a leading multinational provider of precision,
minimally-invasive leak detection and remediation solutions for
both potable and non-potable water is pleased to announce the
initiation of sales from Orca (TM) , its proprietary sewer
diagnostic product. Such initiation of sales has been delivered on
schedule, as guided by the 3Q Trading Update previously released.
Commercialization reinforces the Group's leadership in using
technology to deliver enhanced value for water infrastructure
services. Such value is important both for the Covid-marketplace
and for our Green Economy future.
Orca has been in development at the Group's UK-based, Water
Intelligence International subsidiary (WII). The proprietary
product uses acoustic technology to identify sewer blockages in
municipal pipes more effectively than any competitive solution. WII
has paid engagements starting with 4 large municipal customers in
the UK. The Group expects that such engagements will lead to a
broader rollout in 2021 in the United States, Canada and Australia
within a subset of the Group's 140+ locations.
Of note, especially for ESG investors, Orca is important to
address the collateral effects of climate change. In one of its
first commercial engagements, WII deployed Orca working with Thames
Water and Lanes Group - the leading provider of wastewater
solutions in the UK - to identify which sewers can handle the
increased likelihood of flooding - a by-product of climate
change.
Orca and its derivative product - Pulse(TM) - are also of
critical need in a Covid-influenced marketplace. Sewer clogs and
wastewater overflow are becoming more frequent everywhere as
citizens have problems disposing of sanitary wipes while sheltering
in place. Such blockages are causing second-order public health
issues.
The Group's Orca product roll-out strategy for the US will be
the same as that previously used for WII's municipal services. The
Group will leverage the sales footprint (140+ locations) and brand
reputation for water infrastructure services of its American Leak
Detection subsidiary ("ALD"). The deployment of the proprietary
Orca product will reinforce the current sales of WII municipal
services in the United States, increasing that business line's
growth trajectory.
WII will also be working with ALD franchisees to commercialize
WII's Pulse product during 2021. Pulse is a sewer diagnostic
product for residential application. Product development was
launched at the annual Franchise Convention in Arizona last March
as previously announced. Field tests started in the U.S. during
3Q.
Brisbane
The Group also announces the completion of its reacquisition of
the American Leak Detection franchisee in Brisbane, Australia. The
Group, on 30 September, announced the signing of the reacquisition
transaction pending certain closing requirements. As noted in that
release, the Group now has corporate operations in the three
largest population centers in Australia. These corporate
operations, in addition to contributing direct revenue and profits
to the Group, will support ALD franchises in Australia, reinforcing
the growth of royalty income for the remaining franchise
locations.
Commenting on the Group's performance, Executive Chairman, Dr.
Patrick DeSouza remarked: "We are pleased with the initiation of
commercial sales of Orca. The product is timely and will add to the
growth of our Water Intelligence International subsidiary. Such
sales, combined with our recent insurance customer wins, will
reinforce our growth trajectory for the remainder of 2020 and 2021.
As noted in the release, Orca and its derivative product Pulse
contribute solutions for a Covid-marketplace and, more broadly, for
the Green Economy. We look forward to continuing to increase our
share of a big global market."
Enquiries :
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
Adrian Hargrave, VP Corporate Development + 44 (0) 7775 701 838
WH Ireland Limited - NOMAD & Broker Tel: +44 (0) 207 220 1666
Adrian Hadden
James Sinclair-Ford
Matthew Chan Tel: +44 (0)7920 599 793
Dowgate Capital Ltd - Broker &
Advisor
Stephen Norcross
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