The Water Meter SURREY, Md., company is getting a big boost from the California Water Supply Authority’s $8.5 billion deal to purchase water meters from its parent company.
The deal, which was announced on Thursday, will allow SURREYE to tap into the state’s surplus water reserves in a market where water supplies have been increasingly scarce.
Surrey, the third-largest provider of water meters in the country, has been trying to secure water for more than two decades, relying on groundwater to generate electricity and generate water for irrigation.
Now it has a more flexible pipeline to tap water from other states.
The California deal is the latest in a long list of large water deals the company has received since joining the California market in 1998.
The company has been working to tap more than 10 million acre feet of water since its inception in 1973.
The Water Supply Agency, which manages the water supply in California, is the largest purchaser of water for the state, paying $8 billion last year.