31 January 2025

Ondo InsurTech Plc

("Ondo" or the "Company")

Northumbrian Water to trial LeakBot
following success of other Water Company activity

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to announce an agreement with Northumbrian Water Limited ("Northumbrian Water") to help drive water efficiency within their area in the North East of England.  

Northumbrian Water is the North East trading arm of Northumbrian Water Limited - a member of Northumbrian Water Group.  Northumbrian Water provides water to over 2.7 million residents in the North East of England.

Northumbrian Water will carry out an initial pilot by introducing LeakBot to customers within their area, with the aim of validating the water waste reduction results already seen by other water companies utilising LeakBot, including Southern Water and Portsmouth Water.

LeakBot previously achieved a 60% reduction in water leaks within the Portsmouth Water area, estimated to equate to 24 litres per customer per day, or 67% of the 36 litres per day Ofwat regulatory target for reduction of customer-side water leakage.

More recently, Southern Water announced a potential saving of 9,200 megalitres per year (more than 3,600 Olympic swimming pools) if they were to roll out LeakBot across homes in the Southern Water region, based on the findings from their initial activity which started last year.

Based on the Portsmouth Water trial findings, if LeakBot were rolled out to all Northumbrian Water customers, an estimated 3,300 megalitres of water could be saved each year - enough water to fill 1,300 Olympic swimming pools.

Dawn Creighton, Head of Customer Strategy and Experience, at Northumbrian Water, said: "At Northumbrian Water, we pride ourselves on looking for innovative solutions to solve the challenges we face around water scarcity. We have been impressed by the results seen so far by LeakBot and hope the trial proves we can have a real impact on water usage within a customer's home, whilst also having a positive impact on customer satisfaction. If successful, there could be an opportunity to roll out LeakBot to our 2.7 million customers from 2025."

Craig Foster, Ondo CEO, says: "We're seeing increasing interest from water companies who have seen the positive impact LeakBot can have on reducing leaks and water wastage within a customer's home. We have a proposition which could scale quickly and really do something positive for both households and the environment too. We're looking forward to completing this pilot and discussing the longer-term roll out opportunity with Northumbrian and other water companies."

Enquiries

For further information, please visit www.ondoplc.com  or contact the following:

Northumbrian Water

Northumbrian Water Limited is a water company in the United Kingdom, providing mains water and sewerage services in the English counties of Northumberland, Tyne and Wear, Durham and parts of North Yorkshire, and also supplying water as Essex and Suffolk Water.

For more information, visit nwg.co.uk

About Ondo InsurTech PLC

Ondo is a world leading provider of claims prevention technology for home insurers.  Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.

LeakBot partners with 21 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.

Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.

For more information, visit www.ondoplc.com