Texas Water Service Completes Purchase of Railyard Utility Wastewater System with Partner BVRT Utility Holding Company

SAN JOSE, Calif., June 22, 2022 (GLOBE NEWSWIRE) — Texas Water Service (Texas Water), a subsidiary of the California Water Service Group (NYSE: CWT), through its strategic partnership with BVRT Utility Holding Company, has finalized the acquisition of Railyard Wastewater Utility System. It is the fifth utility owned and operated by Texas Water and BVRT.

Railyard Utility, renamed Spanish Trail Utility, currently provides wastewater service to 345 customers near BVRT’s Plum Creek Utility and Windy Hill Utility systems in the Austin metro area. It is estimated that an additional 150 customers will be able to be served when the community is built.

“We are excited to expand our sanitation service operations with BVRT in the great state of Texas and appreciate the trust placed in our team to serve former Railyard customers,” said Martin A. Kropelnicki, president and chief operating officer. director of the California Water Service Group. “By focusing on delivering quality, service and value to our customers and communities, we intend to deliver what they expect and deserve: reliable, safe and high quality public services.

About California Water Service Group
California Water Service Group is the parent company of the regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service and Texas Water Service, a utility holding company. Together, these companies provide regulated and unregulated water and sanitation services to more than 2 million people in California, Hawaii, New Mexico, Texas and Washington. Common stock of California Water Service Group trades on the New York Stock Exchange under the symbol “CWT”. Additional information is available online at www.calwatergroup.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“Act”). Forward-looking statements are intended to qualify under the provisions of the federal securities laws for the “safe harbor” treatment established by law. Forward-looking statements are based on currently available information, expectations, estimates, assumptions and projections, as well as management’s judgment regarding the company, the water utility industry and general economic conditions. Words such as would, expect, intend, plan, believe, estimate, assume, anticipate, project, predict, forecast or variations of such words or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changing circumstances. Actual results may differ materially from what is contained in any forward-looking statement. Factors that could cause a result to differ from that expected or anticipated include, but are not limited to: the ability to leverage and expand the Spanish Trail utility system in an efficient and accretive manner; natural disasters, public health crises, pandemics, epidemics or outbreaks of a contagious disease, such as the coronavirus (or COVID‐19) epidemic; decisions of governmental and regulatory commissions, including decisions on the proper disposal of property; consequences of eminent domain actions relating to our water systems; changes in regulatory commission policies and procedures; the timeliness of regulatory commission actions regarding tariff relief and other actions; changes in water quality standards; changes in environmental compliance and water quality requirements; power outages; housing and customer growth trends; the impact of opposition to rate increases; our ability to recover costs; availability of water supply; problems relating to the implementation, maintenance or security of our IT systems; civil unrest or terrorist threats or acts; the adequacy of our efforts to mitigate physical and cyber security risks and threats; the ability of our enterprise risk management processes to identify or adequately address risks; labor relations issues as we negotiate with unions; changes in customer water use patterns and conservation effects; the impact of weather, climate, natural disasters and disease on water quality, water availability, water sales and operating results, and the adequacy of our preparedness emergency situations; and, other risks and unforeseen events. When reviewing forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as the annual 10-Ks, quarterly 10-Qs and other reports filed from time to time with the Securities and Exchange Commission. (SECOND). The Company undertakes no obligation to provide public updates of forward-looking statements.

Media Contact
Tom Smegal (analysts)
[email protected]
408-367-8200

Yvonne Kingman (media)
[email protected]
310-257-1434

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