We are pleased to share with you that United Water received the New Jersey Alliance for Action’s Distinguished Engineering Award, which honors innovative and outstanding engineering accomplishments. New Jersey Alliance for Action honored our SOLUTION℠ business model with this award for its uniqueness and positive impact on New Jersey’s economy and environment.
Our award-winning SOLUTION℠ model provides a way for local authorities to clear millions of dollars of accumulated debt, promote job creation, create a cleaner environment and ensure that ownership and stewardship of the water system never leaves public hands.
SOLUTION℠ was first implemented late last year by the Bayonne Municipal Utilities Authority and a joint venture created by United Water and financial partner Kohlberg, Kravis, Roberts (KKR). Three months after the project began, Moody’s Investor’s Service upgraded the City of Bayonne’s bond rating from Baa1 with a negative outlook to Baa1 with a positive outlook.
In addition to receiving the New Jersey Alliance for Action’s Distinguished Engineering Award, United Water’s SOLUTION℠ business model is part of a Commitment to Action made by our company at the Clinton Global Initiative (CGI) Annual Meeting in New York last year. SOLUTION℠ also received the Partnership Performance of the Year Award at the 2012 American Water Summit.
We are thrilled and honored to be recognized by New Jersey Alliance for Action, the state’s most respected and influential association focusing on capital construction and economic growth opportunities within the region. As our CEO, Bertrand Camus, said: “United Water is deeply grateful for this award and for the acknowledgement of the private sector’s important role in public health. Maintaining clean, sustainable water supplies is the single most important contributor to public health and it is essential to creating vibrant local economies in New Jersey and across the United States.”