Revolutionizing water leak detection: Water Intelligence
partners with StreamLabs, Inc., to bolster water damage prevention
services
Water Intelligence plc (AIM: WATR.L)
("WI" or "Group"), is pleased to announce a
strategic partnership between its core American Leak Detection
("ALD") business and StreamLabs, Inc.
ALD (www.americanleakdetection.com)
is a leading multinational provider of precision, minimally
invasive leak detection and remediation solutions for both potable
and non-potable water. StreamLabs, a Chubb company,
(www.streamlabswater.com)
is a leading provider of patented, state-of-the art water usage
monitoring, leak detection and water shut-off solutions for
commercial and residential properties. Chubb is a world leader in
insurance. Both companies have a significant presence in the U.S.
insurance market.
With StreamLabs' range of
high-quality products and competitive price points, the partnership
expands ALD's market-leading leak detection and after care services
by offering integrated water monitoring technology to its
homeowner, business owner and property management clients
throughout North America. Predicting and preventing water damage
not only helps to preserve one of the world's most precious
resources, but also enhances conservation efforts for
environmentally conscious smart-home owners.
Dr. Patrick DeSouza, Executive
Chairman of Water Intelligence stated, "This partnership conveys
our commitment to providing turnkey, end-to-end water leak
detection products and services for home and business owners. We
believe that StreamLabs will provide the most reliable
functionality in geographies across the U.S. StreamLabs is deeply
rooted in the insurance industry and understands the value-added
service provided by water leak risk mitigation solutions for
insurers, and their clients. We are excited by the opportunity and
growth possibilities."
ALD provides proprietary
technology-based solutions to pinpoint and repair water leaks to
over 200,000 residential and commercial customers through its
operations in 150 locations across 46 states of the United States.
It currently has contracts with the leading 20 insurance companies
in the U.S. Moreover, ALD has a world-class operating system via
its Salesforce platform ensuring the highest level of data security
for customers. ALD will also leverage SEEEN plc video technology to
promote "one-click" purchasing of StreamLabs products and promote
preventive maintenance training.
"ALD's unrivalled service network
and decades of risk mitigation expertise combined with StreamLabs'
state-of-the-art water leak monitoring technology empowers property
owners and risk managers with real-time, data-driven insights to
understand water consumption and often prevent water damage before
it occurs," said Frank Mess, Senior Vice President, Officer and
Co-Founder of StreamLabs, Inc. "Together, we're not just responding
to water damage after it occurs, we're redefining how water is
managed and safeguarded while protecting homes and keeping
businesses operating."
StreamLabs offers leading Internet
of Things (IoT) enabled water monitoring, leak detection and water
shut-off products which use patented and proprietary ultrasonic
technology to monitor waterflow and alert property owners to
potential water damage. Its mobile app enables users to manage
alert settings for leaks and view historical and real-time water
usage. The StreamLabs technology platform was built in the cloud
and is modular by design, allowing integration with ALD's
Salesforce platform.
The information contained
within this announcement is deemed to constitute inside information
as stipulated under the retained EU law version of the Market Abuse
Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
Enquiries:
Water Intelligence plc
Laura Bass, Director, Strategic
Finance
Tel: +1 203 584-8240
Grant Thornton UK LLP - Nominated
Adviser
Tel: +44 (0) 20
7383 5100
Philip Secrett
Harrison Clarke
Ciara Donnelly
RBC
Capital Markets - Joint Broker
Tel: +44 (0)20 7653 4000
Jill Li
Elizabeth Evans
Daniel Saveski
Dowgate Capital Ltd - Joint Broker
Tel: +44 (0)20 3903 7715
Stephen Norcross
