We are excited to share with you that United Water ‘Solution’ won the Partnership Performance of the Year Award awarded at American Water Intelligence (AWI) the 2012 American Water Summit in Chicago for offering cities a new way to meet the challenge of upgrading water and wastewater systems through our new “Solution: Investing in America’s Water” offering, which brings together United Water’s technology and management expertise with new long-term private equity investment.
The City of Bayonne, NJ, is the first to put United Water’s ‘Solution’ into practice. United Water, along with private equity partner Kohlberg Kravis Roberts (KKR), have a 40-year contract to operate and improve the city’s water system with investments totaling more than $100 million. Technologies such wireless metering will help improve the system’s efficiency, prioritize pipe replacement and reduce water loss through leakage. KKR will also retire $130 million in Bayonne Municipal Utility Authority debt, freeing to the city to give greater support to other services such as fire departments and schools.
Attendees at the Summit, a major national gathering of municipal and industry leaders, voted to recognize us at the first annual American Water Awards at the American Water Summit: Business Models for the Future, organized by industry publication American Water Intelligence.
As a company, we are thrilled to receive the award and be recognized by our peers for our commitment to addressing a critical issue that faces many cities. In response to the award, our CEO, Bertrand Camus, said: “We are honored to receive this award and believe it is a testament to the value of our innovative approach to addressing America’s water challenge. What’s different is that our ‘Solution’ offers municipalities a complete solution – combining United Water’s innovative technical solutions and management expertise to improve quality and system efficiency along with the necessary capital investment. American municipalities are struggling in a tough economy, the country’s water infrastructure is aging and quality is suffering. Our ‘Solution’ offers cities help they need to make the necessary long-term investment and improvements to strengthen America’s water infrastructure system”
The rising water challenge in our country is a growing concern that needs immediate attention. The American Society of Civil Engineers grades the country’s water system a “D”. The America Water Works Association says it will take more than $1 trillion over the coming two decades to bring pipes and treatment facilities nationwide back to standard. With the continued growth in demand for water alongside competing needs for other municipal services, cities’ finances have stretched beyond their limits. This, coupled with dwindling federal support for cities, has led to a decades-long decline in the nation’s water infrastructure and the need for an innovative approach.
United Water ‘Solution’ is an innovative, cross-sector solution that brings new private equity investment to address the water challenge that many municipalities face today. Our CEO first announced “United Water ‘Solution’: Investing in America’s Future” as a featured commitment at the Clinton Global Initiative in September 2012. Read more about “United Water ‘Solution’: Investing in America’s Future”.
Watch the video below highlighting some of the key water resource challenges facing our country and what we can do to address them.