American Water Works Company, Inc - AWK STOCK NEWS

New Jersey American Water has agreed to acquire the water and wastewater assets of Egg Harbor City, NJ, for $21.8 million. The systems serve about 3,000 connections and the transaction is expected to finalize in the second half of 2021, pending regulatory approval. New Jersey American Water plans to invest $14 million over ten years for infrastructure upgrades, including an emergency interconnection and main replacements. This sale aims to alleviate the city's existing debt and stabilize customer rates while enhancing service quality.

Illinois American Water is investing $37 million in the Lincoln water system, which includes a new South Water Treatment Plant, an elevated water tower, and water main replacements. The treatment plant will enhance water delivery capacity by 1.4 million gallons per day and implement advanced treatment processes. A new 1 million gallon water tower is also under construction, expected to support water reliability and fire protection. The project aims to reduce emergency-related boil water orders and improve service for about 1.3 million customers.

On March 22, 2021, the American Society of Civil Engineers (ASCE) released its Report Card for America’s Infrastructure, grading drinking water systems a C- and wastewater systems a D+. Pennsylvania American Water plans to invest approximately $1.1 billion in infrastructure improvements over the next three years, following $400 million spent in 2020 despite COVID-19. The American Water Works Association estimates that at least $1 trillion is needed to upgrade the nation’s water systems over the next 25 years, underscoring the urgency for infrastructure renewal.

Illinois American Water is allocating approximately $3 million for the replacement of over 14,600 feet (2.8 miles) of water main in Pekin. This initiative aims to enhance water pressure for homes and fire hydrants, while also preventing water loss from leaks. Superintendent Kyle Smith emphasized the need to address aging infrastructure and ensure reliable water service for future generations. Affected customers will receive notifications about the projects and can access continuous updates through the company's portals.

Illinois American Water is investing over $10 million to enhance the Peoria area water system. The project includes the construction of a new booster station with backup power, a 150,000-gallon elevated storage tank, and the replacement of over 23,000 feet of water main. Key improvements aim to increase efficiency, support water flow, and ensure better water quality. Construction is set to begin this spring, aiming to reduce customer disruptions while upgrading infrastructure for improved service.

American Water (AWK) has donated approximately $400,000 in lab equipment to the WATER Institute at Saint Louis University. The LC-QTOF lab equipment will enhance research capabilities in water quality solutions. American Water aims to support educational initiatives and strengthen partnerships in addressing water-related challenges. The WATER Institute focuses on innovation and social justice issues regarding water access and quality, improving infrastructure, and protecting ecosystems. This collaboration exemplifies American Water's ongoing commitment to community engagement.

According to a recent survey by Opinium for Pennsylvania American Water, over two-thirds of Americans have faced home leaks. This coincides with Fix a Leak Week (March 15-21, 2021), emphasizing the need for water conservation, especially as water usage surged during the COVID-19 pandemic. The survey revealed that 52% of respondents experienced bathroom leaks and 50% in kitchens. Approximately 77% noted signs of possible leaks. Pennsylvania American Water aims to enhance water conservation awareness and plans to invest $22 to $25 billion over the next decade in infrastructure improvements.

The American Society of Civil Engineers' latest Report Card highlights the critical state of U.S. drinking water (C-) and wastewater (D+) systems, urging immediate action for upgrades. In response, New Jersey American Water invested over $464 million in 2020, focusing on replacing aging pipes and enhancing treatment facilities. The company anticipates investing $350 million in 2021, emphasizing the importance of robust water infrastructure. This investment aligns with their START initiative aimed at improving services and fostering workforce diversity.