What Aqua does

Aqua, operating as a wholly-owned subsidiary of Essential Utilities, Inc. (NYSE: WTRG), is a regulated water and wastewater utility founded in 1886 and headquartered in Bryn Mawr, Pennsylvania. The company serves approximately 1.1 million residential, commercial, industrial, and municipal customers across eight states — Illinois, Indiana, Ohio, Pennsylvania, New Jersey, Virginia, North Carolina, and Texas — through state-level operating subsidiaries (Aqua Illinois, Aqua Indiana, Aqua Ohio, Aqua Pennsylvania, Aqua New Jersey, Aqua Virginia, Aqua North Carolina, Aqua Texas), each led by a regional president. Its core offering is regulated water treatment and distribution plus wastewater collection and treatment, delivered through owned infrastructure (pipes, treatment plants, distribution mains) under franchise agreements approved by state public utility commissions.

Aqua's revenue model is subscription/recurring by structure: rates are reviewed and approved by state regulators and consist of a fixed monthly facility charge plus volumetric usage charges. The company monetizes regulated capex through rate-recovery mechanisms, has secured multiple PENNVEST and state infrastructure-fund awards (aggregating over $160M across 2024–2025) to subsidize PFAS and lead-service-line investments, and captures ancillary revenue via HomeServe referral fees for optional service-line protection plans. Its go-to-market combines organic service to residential and commercial customers through the Aqua ePortal digital platform (web plus iOS/Android apps) with inorganic growth via municipal system acquisitions — seven completed in 24 months, including the $18M Greenville Municipal Water Authority deal in January 2026. Distribution also includes a WaterSmart Alerts notification system and partnerships with Dollar Energy Fund to administer the Customer Assistance Program (CAP) and Leak Repair Program for low-income customers.

Aqua differentiates technically through a proprietary modular anion exchange PFAS treatment system (deployed at Cumberland County NC and across Pennsylvania sites) and granular activated carbon (GAC) pressure filters, addressing new federal EPA maximum contaminant levels for six PFAS chemicals. The company maintains a 99.91% regulatory compliance rate, is pursuing a $450M multi-year PFAS capital plan, and is committing $791M (2025) and $1.7B (2026) in infrastructure investment. In October 2025, Essential Utilities announced an all-stock merger with American Water Works Company valued at approximately $12 billion, which would create a combined entity operating across 17 states with 5.4 million customer connections, 10,000 employees, and a $29.3 billion combined rate base, pending regulatory and shareholder approval and expected to close in early 2027.

Name

Aqua

Legal name

Essential Utilities, Inc.

Website

https://aquawater.com

Company type

Private

Founded year

1886

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Aqua is a regulated water and wastewater utility subsidiary of Essential Utilities (NYSE: WTRG), serving 1.1 million residential, commercial, and municipal customers across eight U.S. states through owned infrastructure, state-approved rate tariffs, and targeted municipal system acquisitions.

Ownership category

akta.pro rank

Headquarters

HQ city

Bryn Mawr

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Water Utility Services: Regulated water distribution and treatment services to residential, commercial, and industrial customers. Revenue derived from volumetric water usage charges and fixed facility charges.
2. Wastewater Services: Wastewater collection and treatment services for customers in various states. Revenue from sewer service charges.
3. Infrastructure Investment Recovery: Capital investment programs funded through regulated rate recovery mechanisms, including PENNVEST funding for infrastructure upgrades.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Aqua is a regulated water and wastewater utility company that provides treated drinking water, wastewater collection and treatment, and supporting infrastructure services to approximately 1.1 million residential, commercial, industrial, and municipal customers across eight U.S. states (Illinois, Indiana, Ohio, Pennsylvania, New Jersey, Virginia, North Carolina, and Texas). The company owns and operates water treatment plants, distribution mains, storage tanks, and wastewater facilities, supplemented by customer-facing digital tools (ePortal, WaterSmart Alerts), the proprietary modular anion exchange PFAS treatment system, lead service line replacement programs, and income-based Customer Assistance Programs.

Product overview

Aqua is a regulated water and wastewater utility company providing services to residential, commercial, and municipal customers across eight states (Illinois, Indiana, Ohio, Pennsylvania, New Jersey, Virginia, North Carolina, Texas). The core offering is water and wastewater treatment and distribution. Customer-facing digital services include the Aqua ePortal (online account management and bill pay) and WaterSmart Alerts (automated service notifications). Aqua also operates targeted programs including a Lead Service Line Replacement Program, a modular anion exchange PFAS treatment system (proprietary technology for removing forever chemicals), a Customer Assistance Program (CAP) for low-income customers, and a Leak Repair Program. The company partners with HomeServe for optional service line protection plans and works with state agencies (PENNVEST, NC DEQ) for infrastructure funding. Services are delivered through regional state operations with state-specific regulatory compliance.

Differentiator

Problem solved

Functional benefit

Products and services

• Aqua Water & Wastewater Utility Services Regulated water and wastewater utility services delivered to residential, commercial, industrial, and municipal customers across Illinois, Indiana, Ohio, Pennsylvania, New Jersey, Virginia, North Carolina, and Texas; includes water treatment, distribution, wastewater collection and treatment, infrastructure maintenance, and emergency response under state public utility commission oversight.
• Aqua ePortal Online self-service portal for Aqua customers to start or stop water service, view and pay bills, monitor water usage, set up e-billing, and manage their accounts; available to customers in all eight Aqua states via web and mobile app (iOS and Android).
• WaterSmart Alerts Automated multi-channel notification service delivering service disruption alerts, water quality notices, planned maintenance updates, and emergency information to Aqua customers via phone, text message, and email.
• Lead Service Line Replacement Program Program to identify and replace customer-owned lead and galvanized water service lines at no direct cost; includes material inventory surveys, pipe replacement using trenchless methods, pitcher filter distribution, and post-replacement water testing for eligible residential customers in Pennsylvania.
• Modular Anion Exchange PFAS Treatment System Proprietary modular anion exchange treatment system developed by Aqua for removing PFAS 'forever chemicals' from drinking water at the well-head, designed to reduce initial capital costs and improve maintenance efficiency compared to conventional PFAS treatment approaches; deployed at multiple well sites in North Carolina and Pennsylvania.
• Customer Assistance Program (CAP) Financial assistance program providing monthly bill discounts to eligible low-income residential water customers, administered in partnership with Dollar Energy Fund; includes up to $40 in credits toward older balances for participants who maintain monthly payments, distributed via Dollar Energy Fund and community-based organizations.
• Leak Repair Program Assistance program helping low-income CAP-enrolled Aqua customers cover the cost of repairing leaks on customer-owned water service lines; coordinated with local plumbers for estimates and completion, administered via Dollar Energy Fund; does not cover hot water tanks, boilers, pools, or filtration systems.
• HomeServe Protection Plans Optional subscription service line protection plans offered to Aqua customers in partnership with HomeServe USA, covering repair and replacement of customer-owned water and sewer service lines; customers enroll and pay HomeServe directly on a monthly basis, subject to eligibility requirements and terms.
• Iron and Manganese Filtration Systems Water treatment service addressing naturally occurring iron and manganese in groundwater supplies, grouped into priority tiers based on contaminant levels; includes operational improvements, chemical treatment, well cleaning, and system flushing to improve water quality for Aqua North Carolina customers.

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• United WayminorOthers · 1 December 2025Annual United Way workplace campaign raising over $755,000 through employee pledges with Essential Foundation matching, supporting community organizations across nine states.
• Food Banks (Fall for Food Banks Initiative)minorOthers · 1 December 2025Fifth annual Fall for Food Banks initiative contributed more than $520,000 to hunger relief efforts, benefiting more than 55,000 people and over 70 partner organizations.
• HomeServeminorChannel Partner/ Reseller/ DistributorHomeServe partnership offers optional protection plans to Aqua customers for water and sewer service line repairs. Aqua receives referral fees while HomeServe manages the service plans and contractor network.
• Dollar Energy FundcoreImplementation/ SI/ Consulting PartnerDollar Energy Fund administers Aqua's Customer Assistance Program (CAP), processing applications and verifying eligibility for income-based water bill discounts. Also processes Leak Repair Program applications.
• ERM (Environmental Resources Management)minorImplementation/ SI/ Consulting PartnerERM partnered with Aqua Pennsylvania to survey and identify customer-owned service line materials as part of the Lead Service Line Replacement Program.
• Itron and Keystone (Contractors)minorImplementation/ SI/ Consulting PartnerContractors performing survey work on behalf of Aqua Pennsylvania for lead service line identification and inventory.
• Phoenix Fabricators and Erectors, LLCminorImplementation/ SI/ Consulting PartnerContracted to install new elevated water storage tank at Beau Rivage, NC, approximately $3.2 million infrastructure improvement project.
• Union Industrial ContractorsminorImplementation/ SI/ Consulting PartnerSelected to construct water main replacement project in Ashtabula, Ohio, valued at $4.1 million.
• Underground Utilities Inc.minorImplementation/ SI/ Consulting PartnerContractor selected for Aqua Ohio Marion Main Replacement Project, $3.1 million project replacing 5,900 linear feet of water main.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• American Water Works Company: The largest US publicly traded water and wastewater utility, serving 14M+ people across 14 states. Direct competitor in regulated water utility services and currently the merger partner of Aqua's parent Essential Utilities in a $12B all-stock transaction.
• Essential Utilities, Inc. Aqua's publicly traded parent company (NYSE: WTRG) operating regulated water, wastewater, and natural gas utilities. Functions as Aqua's publicly listed entity for purposes of ownership, capitalization, and merger activity.
• York Water Company: The oldest investor-owned water utility in the US, operating across Pennsylvania (and parts of Maryland). Strong overlap with Aqua's Pennsylvania footprint in geography, customer type, and regulated water utility business model.
• Artesian Resources Corporation: A Mid-Atlantic regulated water and wastewater utility serving Delaware, Pennsylvania, and Maryland. Geographically and operationally comparable to Aqua with overlapping service territories in the Mid-Atlantic region.
• California Water Service Group: A regulated water and wastewater utility serving 2M+ customers across California, Washington, New Mexico, Hawaii, and Texas. Comparable regulated investor-owned utility model with PFAS remediation exposure similar to Aqua's.
• American States Water Company: A California-based regulated water and wastewater utility serving 1.7M customers through its Golden State Water subsidiary. Investor-owned utility model and rate-base-driven earnings comparable to Aqua's regulated utility structure.
• SJW Group: A water utility holding company with operations in Connecticut, Texas, California, and Alabama (now operating Connecticut Water following acquisition). Investor-owned water utility with similar small/medium-market strategy and acquisition history.
• Middlesex Water Company: A New Jersey-based regulated water and wastewater utility serving ~500K customers in NJ, DE, and PA. Direct overlap with Aqua's New Jersey service territory and similar small-utility operating model.

Broad incumbents

• Veolia North America: A subsidiary of global environmental services leader Veolia, providing water and wastewater services across the US through municipal and industrial contracts. Larger, broader incumbent offering same service categories with overlap on infrastructure operation.
• Severn Trent plc: A UK-listed regulated water and wastewater utility with US operations, including the recently acquired Trimble County water and wastewater business in Kentucky. Provides broader incumbent comparison in regulated water utility operations globally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/myaquaamerica
• Facebookfacebook.com/myaquaamerica
• LinkedInlinkedin.com/company/essentialutilities

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries9 records

Funding overview

Funding rounds21 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aqua