Oldcastle Infrastructure Announces Smart Water Technology Leak Detection Partnership with FIDO Tech
(Atlanta, GA) – Oldcastle Infrastructure, a CRH Company, and a leader in innovative infrastructure solutions, today announced its entry into the smart water market through a strategic partnership with FIDO Tech, a UK-based Artificial Intelligence (AI) and technology solutions provider, to deliver unparalleled leak detection and broader water management and conservation solutions in the United States.
The United States loses roughly two trillion gallons of treated drinking water annually, costing municipalities, government agencies and water districts an estimated $7.5 billion1. Oldcastle Infrastructure’s comprehensive suite of smart water solutions, powered by FIDO Tech’s advanced technologies with actionable AI at the core, will provide municipalities, water utilities and industrial clients with real-time monitoring, leak detection and predictive analytics to address treated drinking water losses.
Leveraging its national footprint, Oldcastle Infrastructure will facilitate and accelerate the rollout of FIDO Tech’s AI-led non-revenue water (NRW)2 detection service across the US market. This will allow more US utilities to benefit from FIDO Tech’s current leakage reduction levels of more than 50%.
“We are excited about this partnership and its impact on the water infrastructure technology market as a whole,” said Jeff Petrosky, vice president strategic marketing, Oldcastle Infrastructure. “Our nationwide footprint and expertise in water management solutions combined with the smart AI-based technology FIDO Tech brings to the table, creates a game-changing solution designed to minimize water leakage and preserve our most valuable resource.”
“Solving non-revenue water losses is a quantifiable and guaranteed way to improve water availability and security,” said Victoria Edwards, Co-Founder & CEO, FIDO Tech.
“Leading the AI revolution in water, FIDO Tech is delighted to partner with Oldcastle Infrastructure for their proven expertise and breadth of water infrastructure solutions to deliver smart water services across the North American market.”
Leveraging real-time data, municipalities, water utilities and industrial customers will be able to optimize operations and prioritize leaks ahead of a catastrophic system failure, reducing repair costs and downtime. The partnership between Oldcastle Infrastructure and FIDO Tech reinforces the shared commitment of both companies to sustainability, resilience, and technological innovation. By harnessing the power of their combined expertise, Oldcastle Infrastructure and FIDO Tech aim to transform water management practices and contribute to building a more sustainable future.
About Oldcastle Infrastructure
Oldcastle Infrastructure, A CRH Company, is the leading provider of infrastructure solutions to several North American market sectors, including Water, Communications, Energy, and Transportation. For more information, visit www.oldcastleinfrastructure.com.
CRH (LSE: CRH, ISE: CRG, NYSE: CRH) is the leading provider of building materials solutions that build, connect and improve our world. Employing c.75,800 people at c.3,160 operating locations in 29 countries, CRH has market leadership positions in both North America and in Europe. As the essential partner for road and critical utility infrastructure, commercial building projects and outdoor living solutions, CRH’s unique offering of materials, products and value-added services helps to deliver a more resilient and sustainable built environment. A Fortune Global 500 company, CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe. The company is ranked among sector leaders by Environmental, Social and Governance (ESG) rating agencies. CRH’s American Depositary Shares are listed on the NYSE. For more information visit www.crh.com
About FIDO Tech
FIDO is a global technology company using deep learning to find the water leaks that matter. Its AI is the only technology that uploads any files from any sensor device, analyses them instantly, and ranks by size, to more than 92% accuracy. FIDO AI is the only data-as-a-service (DaaS) end-to-end leak detection solution which identifies leaks and the size of leaks to hit water losses hard. Now we can locate them exactly too. Our cutting-edge AI was trained on verified leak data to deliver instant super-accurate results on any water network. Nothing beats FIDO at finding the biggest leaks the first time.
1 ASCE Infrastructure Report Card – Drinking Water: https://infrastructurereportcard.org/wp-content/uploads/2017/01/Drinking-Water-2021.pdf
2 Non-Revenue Water – water that has been produced and is “lost” before it reaches the customer.