PHOENIX, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, celebrates its 20 year anniversary of providing Total Water Management (TWM) to Arizona communities.
Global Water’s award-winning TWM helps protect water supplies in water-scarce areas experiencing population growth in major metro growth corridors around Phoenix and Tucson, Arizona.
“Since our founding, our primary mission has been to implement the principles of TWM to allow for sustainable growth within our service areas through the aggregation and effective management of water and wastewater utilities,” stated Global Water president and CEO, Ron Fleming. “Through the concerted efforts of our dedicated teams across all segments of our operations, the communities we serve have realized the benefits of consolidation, regionalization, and proactive environmental stewardship.”
Since 2017, the company has acquired and integrated 12 utilities, bringing its total owned and operated utilities to 29 across the state’s three largest counties: Maricopa, Pima and Pinal. Global Water’s total active residential, commercial and industrial connections recently reached more than 60,000, making it one of the largest integrated water and wastewater service providers in the state.
Global Water’s TWM approach helps preserve groundwater resources and supports long-term water supply planning, which includes Arizona’s 100-year assured water supply requirement for new subdivisions.
“It often goes unnoticed, but an abundance of fresh groundwater is a tremendously valuable asset which enhances the quality of our lives,” continued Fleming. “Its significance has grown in the arid Southwest where we operate. So, while groundwater may be unseen, it should always remain in our thoughts, and this is why we prioritize delivering smart water management to safeguard this invaluable resource."
Global Water recycles more than 1 billion gallons of wastewater annually and has beneficially reused more than 10.7 billion gallons of recycled water since inception. The company’s extensive ‘purple pipe’ program preserves precious drinking water by enabling recycled wastewater to be used in public common areas.
According to the Arizona Commerce Authority, $49.7 billion of capital has been invested in Arizona for the years 2020 through 2022, which reflects an increase of 588% over the preceding three years. This includes the announcements of major new manufacturing facilities by Taiwan Semiconductor, Intel, and Proctor & Gamble.
The Office of Economic Opportunity expects more than 542,000 new jobs will be created in Arizona by 2031. At an annualized growth rate of 1.6%, this is more than three times the projected U.S. overall growth rate of 0.5% during the same period, according to the U.S Bureau of Labor Statistics.
“While ongoing water resource challenges are exacerbated by the continued drought, we see many opportunities for addressing these challenges,” continued Fleming. “We believe many would benefit from our regional planning and smart water management framework like we’ve successfully deployed across our acquired utilities. For creating water security, our model and approach has become more important than ever, and our mission for realizing this has truly only just begun.”
Global Water’s industry leading experience with automated real-time water monitoring provides its customers with the data necessary to help preserve its water resources by actively managing monthly usage and detecting leaks in real time. The smart metering technology also supports an innovative rate design approved by the Arizona Corporation Commission (ACC) which was designed to further incentivize customers to conserve water on a daily basis.
Since 2016, Global Water has been publicly traded on the Nasdaq Capital Markets. Last month, it announced its first annual environmental, social, and governance (ESG) and sustainability report that highlights its leadership in TWM.
“As we celebrate our 20th year, I would like to thank our exceptionally talented teams for their dedication and determination as we work towards solving the many water resource challenges in Arizona,” added Fleming. “I would also like to thank the many communities we have had the privilege to serve, as well as our shareholders for their support and encouragement over the years.”
In commemoration of its 20th anniversary, the company has relaunched its website at www.gwresources.com. The new site features a more intuitive design that enables customers and partners to access information more quickly and easily. It includes a new letter from the Global Water president and CEO available here.
About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 29 systems which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles over 1 billion gallons of water annually.
The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle that involves owning and operating water, wastewater, and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. It enables smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth.
Global Water has received numerous industry awards, including national recognition as a ‘Utility of the Future Today’ for its superior water reuse practices by a national consortium of water and conservation organizations led by the Water Environment Federation (WEF). The company also received Cityworks’ 2022 Excellence in Departmental Practice Award for demonstrating leadership and creativity in applying public asset management strategies to daily operations and long-term planning.
To learn more, visit www.gwresources.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements which reflect our expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning our expectations about our strategies and future business plans, prospective performance, growth, and opportunities; our plans and intentions relating to our environmental, social, and governance (ESG) commitments and initiatives; and our expectations relating to the benefits resulting from the implementation of our technologies and strategic rate structures. Forward looking statements also include such other statements that are not historical facts, as well as statements identified by words such as “believes”, “anticipates”, “plans”, “expects”, “intends”, “projects”, “estimates”, “objective”, “goal”, “focus”, “aim”, “should”, “could”, “may”, and similar expressions.
These statements are based on our current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond our control Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors. Factors that may also affect future results are disclosed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website at www.sec.gov. This includes, but is not limited to, our Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent filings with the SEC. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s views as of the date hereof. We undertake no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.
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