StockNews.AI
AWK
StockNews.AI
97 days

New Jersey American Water and Salem City Celebrate Groundbreaking of New Water Infrastructure and PFAS Treatment System

1. New Jersey American Water began a PFAS removal project in Salem, NJ. 2. The project ensures safe drinking water, enhancing public health for residents. 3. Total investment in Salem's water system exceeds $48.8 million over five years. 4. Local officials praised the partnership and anticipated long-term community benefits. 5. The project will implement advanced treatment systems to remove harmful pollutants.

5m saved
Insight
Article

FAQ

Why Bullish?

The investment in infrastructure shows commitment to growth and community health, which can enhance AWK's stock appeal. Historical trends indicate similar projects have positively influenced utility stocks.

How important is it?

The project indicates robust ongoing investment, enhancing AWK's reputation and operational capabilities, making it important for future earnings.

Why Long Term?

The significant capital investment will yield benefits over years, supporting sustained growth in customer trust and operational excellence.

Related Companies

SALEM, N.J.--(BUSINESS WIRE)-- New Jersey American Water and the City of Salem, today, broke ground on a major new infrastructure project that will enhance water quality and public health for thousands of local residents in Salem, NJ. The event marked the start of construction on a state-of-the-art PFAS removal system at the Salem Water Treatment Plant—a critical investment to help ensure safe, clean and reliable drinking water service for communities served by the plant.

The ceremony brought together New Jersey American Water leadership, local elected officials, and key community stakeholders to celebrate the inauguration of a PFAS mitigation project—to be completed within an accelerated 18-month timeline—that underscores New Jersey American Water’s ability to swiftly deliver innovative, health-focused solutions with long-term benefits for Salem and its residents.

“This is a turning point for Salem,” said Dr. Jody Veler, Mayor of Salem City. “Our community deserves clean water, and we are proud to see this partnership with New Jersey American Water delivering results that will make a lasting difference.”

“We are proud to partner with the City of Salem to deliver a timely solution to remove ‘forever chemicals’ from drinking water and restore community trust,” said Mark McDonough, New Jersey American Water President. “This project reflects our long-term commitment to safe and affordable water service and meaningful investment in communities that make them stronger.”

“This facility doesn’t just help local residents, but it sets the stage for the state of New Jersey,” said Zenon Christodoulou, Commissioner, New Jersey Board of Public Utilities. “This issue will not go away easily, but starting today, in this town, it will begin to go away, thanks to your combined efforts… Our job at the BPU is to make sure that we provide safe and affordable service for all of our residents… and on behalf of the BPU, you have made our job infinitely easier. With great optimism, we look to the future.”

“My DEP colleagues and I congratulate New Jersey American Water on the groundbreaking of this treatment plant,” Environmental Protection Commissioner Shawn M. LaTourette said. “Across New Jersey, the DEP is working with water systems both large and small to install advanced treatment systems to remove PFAS while also taking strong legal actions to hold accountable those companies that are responsible for this pollution.”

In just the first year since taking ownership of the Salem water and wastewater systems in June of 2024, New Jersey American Water has already invested over $1 million into the water system and another $2.5 million into the wastewater system—with plans to invest nearly $48.8 million over the next five years. These investments will support system upgrades, environmental compliance, and enhanced service reliability across the region.

About New Jersey American Water
New Jersey American Water, a subsidiary of American Water (NYSE: AWK), is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 2.9 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.

Related News