120Water Announces New Program Funding Service to Help Water Professionals Acquire Resources to Execute Lead Programs

INDIANAPOLIS, Aug. 3, 2021 /PRNewswire/ -- 120Water, the nation's leading solutions provider for lead management programs, announced today the launch of its 120Water Program Funding Service, a new resource to help water professionals identify and secure financing for drinking water programs.

The announcement comes as final negotiations continue on proposed federal infrastructure legislation, which—if passed—would result in a landmark investment in water infrastructure. The increased federal funding will create new financial incentives, coupled with new regulatory pressure, for water systems to prioritize lead pipe replacement programs and accelerate compliance with upcoming Lead and Copper Rule Revisions. Access to various types of capital to fund such programs will be crucial for water professionals to successfully execute these new expectations.

"While new funds will be available to the market, there still won't be enough to go around," said Megan Glover, Co-Founder and CEO at 120Water. "It will be imperative that utility leaders start creating their funding strategies and plans early to correctly position their programs to get the resources they need." 

"Water systems are seeking guidance on this positioning and how to make their proposals compelling," Glover added. "That is the goal of this service—to help water professionals understand the resources available and equip them with the support they need to access the funds they need to properly invest in their systems."

To assist with these efforts, 120Water established a partnership with Water Finance Assistance, a leading expert in water finance. They will work with water professionals to identify new funding opportunities and develop strategies and proposals to secure necessary funding. Water Finance Assistance is an early member of 120Water's recently launched Service Partner Network, a group of hand-selected partners spanning a broad range of services to help water professionals manage all aspects of their drinking water programs. 

Together, the 120Water and Water Finance Assistance teams have over 30 years of experience supporting water and environmental professionals. Their combined experience provides an outcomes-based, data-driven approach to help identify, pursue, and secure program funding from start to finish, with the goal of eliminating work for water systems and ensuring public health-related water projects are prioritized and funded appropriately. 

"Navigating the financing landscape without clear guidance is time-consuming and highly inefficient," said Glenn Barnes, Director at Water Finance Assistance. "Our goal is to help water professionals spend less time navigating grants or banks and more time executing programs. I'm thrilled to partner with 120Water to offer the industry much needed guidance, particularly as new funding streams become available and LCRR adds new pressures."

The Program Funding Service is designed to provide a highly tailored, consultative approach for each utility. All customers will go through an identification phase to engage stakeholders, collect key information, and understand nuances for the utility, culminating in a set of data-driven recommendations. If needed, 120Water and Water Finance Assistance can then help utilities pursue funding through assistance in crafting proposals and necessary documentation.

To learn more about 120Water's Program Funding Service or to set up a consultation, go to 120water.com/funding/.

ABOUT 120WATER
120Water is the end-to-end solution used by water professionals across the country to manage critical lead and drinking water programs. Comprised of secure cloud-based software, services and point of use kits, 120Water's solution provides tailored workflows for complying with lead and water quality programs that protect public health. Their team of water, policy and technology experts have supported over 7,000 sampling events across the country, partnering with water systems and government agencies such as Citizens Energy Group, the City of Providence, the City of Asheville, and Chicago Public Schools to protect public health and provide clean drinking water to all communities. To learn more, visit 120Water.com or follow them on Twitter @120_Water.

SOURCE 120Water