REDWOOD CITY, Calif., July 2, 2020 /PRNewswire/ -- According to American Water Works Association, it is estimated that investment needs for water infrastructure will exceed $1 trillion nationwide over the next 30 years. Failed water mains will cause more frequent breaks and significant damages, such as flooding and sinkholes. These are costly to repair, and also wastes a lot of water.
There is only one water utility in each area covering the entire population, which has full control over the maintenance of the main pipes in its jurisdiction. Fracta sees the centralized, bureaucratic system controlled by the water utility as unfair to the public. With no competition, the water utility enjoys a monopoly position for a service that is essential to human life.
Water utilities have a responsibility to provide the best service at the lowest cost to the public. Also, the public has a right to know how water utilities spend their money when it comes to repairing and replacing the pipes. We believe that it is their responsibility to look for the best solutions in lowering the cost to maintain their assets, and to provide the best services to its customers: the public.
Fracta has developed proprietary systems for water main asset management that uses Artificial Intelligence to assess the condition and risks of water distribution mains. The Fracta system utilizes the water utility's data, which pertains to the pipe's infrastructure. This technology allows cities and utilities to pinpoint the decay of water pipes before they break ground, helping them save 30% to 40% of their long-term costs, which leads to lower water bills for the public.
Fracta is now launching "Save Water Now Project" (https://savewaternow.fracta.ai/) in which Fracta displays a map of the pipes to the public. Through the "Save Water Now Project", Fracta would like citizens to be aware of infrastructure beneath them. The Project will encourage water utilities to collaborate with the public and Fracta, by supplying pipe data into the Fracta system. This, in turn, will make the system "smarter" and better able to reduce water utility operating costs and avoid costly leaks. Fracta would like to provide an opportunity for the public to participate in building the future of America's infrastructures.
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