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Suez invests in digital solutions provider for water consumption Hydrelis

Published 13 April 2018

French environmental services provider Suez has invested in Hydrelis through its investment fund Suez Ventures.

This transaction complements Suez’s ON’connect range of smart water meters and enables this young French company to boost its international development. CapHorn Invest, a historical shareholder in Hydrelis, also participated in the transaction.

In France, each year, there are more than 1 million of insurance claims for reimbursement of property damages caused by water leaks within buildings.  

Hydrelis has patented a unique range of water breaker that can track consumption, trigger an alarm in the event of a presumed leak, and remotely turn the water off and back on using a built-in electronic system. This Machine Learning technology is based on real-time analysis of water consumption. 

Building on its experience with smart meters, with more than 3.5 million installed worldwide from its ON’connect range, Suez strengthens, through this investment, its offering with a technological solution that allows users to remotely manage their water consumption and protect themselves against the risk of water damage.

Suez group innovation, marketing and business performance senior vice president Loïc Voisin said: “The digital technology developed by Hydrelis offers unrivalled water leak detection, which is a benefit to all consumers.

“This investment is fully in line with Suez’s strategy, a world leader in sustainable resources management. It will give Hydrelis the resources to improve its products and gain an international foothold.”

Hydrelis CEO Dominique Gayraud said: "Suez’s investment in Hydrelis demonstrates the trust that a leading global player has in the future of our solutions, as well as highlighting their recognition of the work accomplished by our teams. CapHorn's involvement also demonstrates their support for Hydrelis.” 

CapHorn invest founding partner Damien Bourel said: "We're very proud to be supporting Hydrelis in this new stage of growth. It is a significant opportunity, and the company has all the assets needed to become one of the key stakeholders in the digitalisation of water management.”

Source: Company Press Release