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WATR Water Intelligence Plc

318.00
0.50 (0.16%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Water Intelligence Plc LSE:WATR London Ordinary Share GB00BZ973D04 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 0.16% 318.00 315.00 320.00 317.50 315.00 317.50 27,059 16:35:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Cmp Processing,data Prep Svc 71.33M 3.67M 0.2112 15.03 55.11M

Water Intelligence PLC ALD and Flo Technologies Partnership

10/01/2018 7:00am

RNS Non-Regulatory


TIDMWATR

Water Intelligence PLC

10 January 2018

AMERICAN LEAK DETECTION AND FLO TECHNOLOGIES PARTNER TO BRING END-TO-END SOLUTION TO RESIDENTIAL WATER LEAKS

Smart home leak detection system helps prevent $9 billion in damages using advanced and proactive technology and machine learning while saving on insurance and utility bills

Los Angeles - January 7, 2018 - American Leak Detection (ALD), America's leading and most respected pin-point leak detection specialist company and subsidiary of Water Intelligence plc (AIM: WATR.L), a leading provider of precision, minimally-invasive leak detection and remediation solutions for residential, commercial and municipal customers across the U.S., UK, Australia and Canada, has today announced a strategic partnership with Flo Technologies, Inc. to provide distribution, pin-point leak detection and repair capabilities for its Flo smart home water security and conservation system.

Available in February 2018 priced at $499, Flo is a proprietary water monitoring and shut-off system and first device on the market to sense water flow rate, temperature AND pressure as well as use machine learning to help identify and prevent major leaks before they occur. Its partnership with ALD provides Flo with the ability to offer customers installation and repair capabilities when issues are detected, making it the first end-to-end solution for home leak detection, able to prevent, detect and repair faulty plumbing all while saving money and the environment.

The combination of technology and services provided between ALD and Flo Technologies is a first for the industry. ALD and Flo Technologies will be partnering to offer consumers and insurance providers a one stop capability for the purchase and installation of Flo with proactive maintenance of home water systems. This formula has the exciting potential to drastically reduce the $9 billion of loss in the U.S. resulting from water damage, while saving billions of gallons of water.

"We are excited to partner with Flo Technologies to take our Group's range of minimally invasive technology solutions to the home market with Flo, and to be Flo's exclusive service partner for pin-point leak detection. Our strategic vision is to shape the future of residential engagement with water loss - an objective shared by the insurance industry and one that our business-to-business channel initiated in a focused way last year," commented the Chairman of Water Intelligence, Dr. Patrick DeSouza.

"We have developed Flo to be the most advanced home water security and conservation system on the market and the fact that ALD, the most respected name in the business, has chosen to exclusively partner with us is a huge validation of our system," said Gabriel Halimi, CEO and Co-founder of Flo Technologies. "Through ALD's network of over 1,000 plumbers servicing over 200,000 homes, Flo has a readymade footprint from which to expand and can offer complimentary services to ALD, resulting in earlier detection to homes across America, Canada, Australia and the UK."

Flo's technology and approach differs from other systems in the following ways:

-- Preventative Technology - Most systems use point moisture sensors or basic water metering technology limited to flow to detect leaks after-the-fact, while Flo measures all vital characteristics in real-time, including water pressure, temperature and flow rates in the water system to detect vulnerabilities and prevent damage.

-- Multi-Sensor Approach - Flo is the only system to monitor water pressure, which is both a cause of damage and the only way to accurately detect leaks as small as a drop or two per minute.

-- Learning Algorithms - FloSense(TM) machine learning technology personalizes Flo's conservation and security monitoring to the individual home.

-- Proactive System-wide - Unlike a multitude of individual point moisture sensors that have to be placed in perceived trouble areas, a single Flo device works throughout the home. Its Microleak(TM) technology proactively checks for the smallest vulnerabilities anywhere in the home water system.

-- Water Shut-off - If something critical happens, Flo can alert users and stop the water with or without their input. Shut-off can be automatic or enabled remotely after an alert.

-- Visible & Invisible Waste - Can detect visible water wastage such as toilets running as well as invisible ones like leaks behind the wall.

-- Repair Diagnostics - Flo can connect users to plumbing professionals while providing plumbers advanced diagnostics of potential problems - saving time and money.

-- Conservation - Flo continually learns and shows usage patterns in real-time. Users can check their current water usage, compare historical patterns, and set and monitor conservation goals.

-- Insurance Discounts - Insurance companies are already offering discounts on premiums making Flo self-funding over time. Some users are already receiving a $700 discount on annual premiums.

"With 13 percent of a home's water lost to leaks and $9 billion paid out in water damage each year, Flo is a game-changer for the home. Rather than waiting for a water catastrophe to strike, Flo proactively monitors the water system to find vulnerabilities before they cause damage," said Halimi. "After nearly 10 years of development, we are excited to bring Flo to homes across America and proud of its potential to make an impact on our users, plumbing professionals and insurance companies as well as our most precious resource, water."

Flo is available for purchase now on its website and will begin shipping in February. Priced at $499, Flo is cheaper than other systems despite offering vastly more features. Flo will also be available nationwide through its partnership with American Leak Detection, which will also be selling and installing Flo throughout its North America network. For further information visit www.meetflo.com

-ends-

Amerrical Leak Detection Contact

Lisa Keeton

VP, Sales and Insurance Partnerships

lkeeton@americanleakdetection.com

(760)-399-7187

Flo Technologies Contact

Ian Twinn / Tandem Marketing Communications

iantwinn@tandemcomms.com

(917) 306-7270

About Flo Technologies, Inc.

Founded in 2015, Flo Technologies, Inc. is a family company providing innovative and accessible technology solutions that enable and transform the control and conservation of water at home. Flo Technologies has raised more than $11 million through a Series A funding round led by leading VC firm Crosslink Capital, with participation from Anthemis Group and an affiliate of USAA, a financial services provider. The company's first product, Flo, is a home water monitoring and shut-off system and the first device on the market to sense water pressure, flow rate and temperature while using machine learning to learn homeowner's usage patterns. For further information visit www.meetflo.com

About American Leak Detection

American Leak Detection (ALD), is the world's leading specialty leak detection services company with operations in the US, Canada, Australia and Belgium. A subsidiary of Water Intelligence PLC (LON: WATR), it operates a network of over 1,000 plumbers in the U.S. and serves over 200,000 homes, a number that continues to grow year over year. ALD has a national channel structure for insurance companies that provides pin-point leak detection and repair services to minimize potential home-owner damages across the United States. For further information visit www.americanleakdetection.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

January 10, 2018 02:00 ET (07:00 GMT)

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