CRH invests in FIDO AI innovative water management technology

New York – [October 2, 2024] – CRH (NYSE: CRH), the leading provider of building materials solutions, is supporting the development of pioneering water management technology through an investment in FIDO AI, the artificial intelligence (AI) leak detection software company. FIDO AI’s technology is helping to improve water resilience by curating water data insights to minimise water leakage, reduce downtime and preserve valuable water resources.

Led by CRH’s venture capital unit, the Series B investment expands CRH’s water management capabilities into the smart water market. It builds on CRH’s existing relationship with FIDO AI through Oldcastle Infrastructure, our [market leading] water infrastructure solutions business in North America.

As well as providing water management insights and prioritisation in real time to utilities and municipalities, FIDO AI’s technology is increasingly being used in the development of corporate water stewardship programmes to address global water challenges.

Commenting, Eduardo Gomez, Head of CRH Ventures, said: “This investment underscores our commitment to scaling the most promising and cutting-edge innovative technologies. FIDO AI’s technology aligns seamlessly with CRH’s focus on developing innovative and sustainable solutions for the built environment. We look forward to strengthening our existing partnership and to driving transformative innovation and impact in water management.”