SPAQ - Ondo InsurTech takes another step into promising new sector
(NewsDirect)
Ondo InsurTech PLC (LSE:ONDO) CEO CraigFoster speaks to Thomas Warner from Proactive after announcing a newpilot scheme with Southern Water to trial the use of LeakBot inreducing water leaks, with the aim of achieving similar waterreduction results as the Portsmouth Water trial carried out earlier inthe year.
Foster explains that Ondowas approached by Southern Water and have agreed to introduce theLeakBot device to around 1,000 homes as part of a pilot scheme,becoming the second water company to adopt Ondo's leak detectiontechnology. He says that with water scarcity becoming a concern in thesouth of England, Ondo's technology presents an opportunity toconserve water and prevent leaks, benefiting both insurance and watercompanies.
Foster also highlights Ondo's continued expansioninto the United States, following a recent deal signed with PUREInsurance. He also gives a summery of Ondo's recent financialresults , highlighting reflected substantial growth in unit sales,registered customers, and revenue, showcasing its potential forfurther success in the market.
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