Benzinga | Sep 8, 2021 03:29PM EDT

Ameresco Partners With City Of Seabrook, Texas To Install Water Meters

* Ameresco Inc (NYSE:AMRC) partners with the City of Seabrook, Texas, to install a smart metering infrastructure improvement project that includes installing solid-state water meters and an advanced metering infrastructure (AMI) system. The financial terms of the deal were not disclosed.

* Ameresco to install more than 4,100 water meters in place of the city's existing meters and save the city over $50,000 per year.

* By replacing the water meters proactively, Ameresco and the City of Seabrook will restore accuracy to its reporting data.

* Construction is scheduled to be completed by the end of 2021, and the new water-smart customer portal will launch by spring 2022.

* Price Action: AMRC shares are trading lower by 2.02% at $70.67 on the last check Wednesday.