Water Management Services Establishes New Operating Division, Corporate Parent

SAN DIEGO, CA — Water Management Services, Inc., a leader in the performance contracting industry, announced that it has changed its name to Wellspring Acquisitions Inc. and is dramatically expanding its business operations.

Wellspring International, Inc. is now parent to two operating divisions, Water Management Services and the newly established Wellspring Wireless Utility Services, both water technology service businesses.

Wellspring Wireless Utility Services is devoted solely to the water submetering business, a $10 billion US market that is largely untapped. Water Management Services will continue to operate and grow the company's performance contracting business, which implements measures to increase water use effi ciency and cut utility costs in existing buildings.

The new division is poised to take advantage of Aqura (pronounced "ak-ur-ah"), Wellspring International's patented water submetering technology. Aqura is a point-of-use system that uses advanced wireless technol-ogy. The system allows Wellspring to offer true water submetering for all building types, and it is the only cost effective solution for multi-story, multi-family buildings.

Wellspring is promising to be a major player as the nation's fi rst water sub-utility. The company has created a nation-wide consortium of "best of class" providers, including Roto-Rooter for installation and maintenance, Web Services for customer sales and service, Utility Data Systems for meter reading, American States Water Company for billing and collection, and Academic Capital Group, Inc. for project financing.

"The establishment of Wellspring International and Wellspring Wireless Utility Services is a major step toward the goals we set fi ve years ago," said Brian Brittsan, president. "Our (Aqura) technology is ready, and the water submetering market is ready. You'll see big changes in this industry in the next couple years, and Wellspring International will be driving those changes," he said.

Water submetering serves a 32 million apartment unit market in North America. "The demand for water submetering is huge, but suppliers have not always met owners' needs. Until now," CEO Wade Smith said.

"Wellspring's Water Management Services performance contracting operation will continue as a vital and valued division of the company," Smith added. "This is a solid business that fi ts within our business strategy. It's a ‘smart water' business. The market for water-based performance contracting continues to grow rapidly," he said.