Ondo InsurTech PLC (LSE:ONDO) technology could save the UK up to 38 Olympic swimming pools worth of water a day, according to findings from its LeakBot pilot programme in Portsmouth.
A wider rollout of the smart water leak alarm could aid regulator Ofwat’s long-term target for household consumption to be slashed by 36 litres a day, Ondo said in a statement.
Results from the pilot will be showcased to water companies on Tuesday, with a proposed 2024 £100mln Ofwat innovation fund likely enough to install LeakBots in 3mln UK homes.
Doing so would save 100 megalitres of water a day, Ondo noted, the equivalent of filling 38 Olympic swimming pools, helping “the UK to meet its stretching water efficiency goals”.
Claims prevention tech company Ondo worked alongside Portsmouth Water on the trial, which showed 30% of houses across the UK likely had pre-existing leaks, wasting 40 litres of water a day.
"The trial was a great success … we were pleasantly surprised to see that LeakBot could reduce leaks by 60% in just 6 months,” Portsmouth Water chief executive Bob Taylor said.
Findings “supported what we see in the data across the UK, which shows that we could achieve most, if not all, of Ofwat's … reduction target in houses in England and Wales,” Ondo boss Craig Foster added.