XPV Water Partners announced that it has invested in Metron-Farnier, which offers a line of residential and commercial water meters augmented with smart meter technologies.
“We are a rapidly growing company due to our unique product offerings including our high-performance meters with embedded cellular AMI, and the Waterscope portal,” said Matt Laird, chief executive officer of Metron-Farnier. “XPV is the right partner for us because of their deep domain experience and connections in the global water industry and their ability to help us scale our business to meet market demand.”
Metron-Farnier provides sub-metering services to multi-residential applications that enable customers to access and manage their water consumption, as well as identify losses and inefficiencies in their system.
Metron-Farnier has a strategic partnership with Verizon Wireless®, which enables the development of cellular based automated metering networks without the need for costly infrastructure, according to XPV Water Partners. Metron-Farnier meters store usage data in high resolution and send the data through the Verizon Wireless® LTE Cat M1 network to Waterscope, the company’s portal that delivers information on water usage beyond billing data and volume consumption.
The analytics capabilities of Waterscope allows users to identify water consumption patterns, uses of water, and can be used for a variety of programs such as water conservation, meter sizing, time-of-use studies, and flowrate analysis. The whole system is “plug and play” so utilities can start analyzing water usage from their computer or cell phone from the day after the system is installed.
“We are excited to partner with Matt and his team and jointly realize on their vision,” said Khalil Maalouf, partner at XPV Water Partners. “The company possesses all the attributes in terms of product differentiation, installed base and drive that we were looking for in an AMI technology company.”
XPV Water Partner is a growth equity investor focused on making investments in companies related to the treatment and management of the world’s water resources.