Ondo InsurTech PLC (LSE:ONDO) said it will release the results of its LeakBot pilot program on 6 June at the Water Industry Spring Innovation Knowledge Showcase event alongside Portsmouth Water.
OFWAT, the England and Wales water sector regulator, wants water companies to help drive down household consumption by 35 litres per day.
As part of the initiative, OFWAT will provide £100mln in funding to stimulate reductions in water demand through a range of efficiency approaches, a statement said.
Portsmouth Water and Ondo have worked to discover whether LeakBot, Ondo’s claim prevention technology, can reduce demand by stopping plumbing leakage.
"The findings from the Portsmouth Water pilot are significant for the water industry and especially with regards to OFWAT's desire to reduce household water demand,” said Craig Foster, CEO of Ondo.
“Sharing these results is the first step, we hope, in LeakBot being able to make a significant contribution in delivering this important environmental benefit across England and Wales,” he added.