Azurix Corp. Introduces Water2Water.com

Azurix Corp. and Ariba, Inc. jointly announced that Azurix plans to launch Water2Water.com, an Internet-based marketplace for buyers and sellers of water and water-related services. Built on the Ariba business-to-business eCommerce platform, Water2Water.com will enable customers to transact business relating to the transfer and physical delivery of water, and to the purchase or sale of water storage and water quality credits. "We believe Water2Water.com ... will allow participants in the water market to transact business more efficiently and improve market transparency and price discovery," said Rebecca Mark-Jusbasche, chairman and CEO, Azurix. "It also will allow us to work with state and federal agencies to help streamline the time consuming paper-related documentation that currently accompanies the approval process relating to water transfers." Water2Water.com has been designed for water municipalities, agricultural customers, landowners and environmental customers. Users will be able to post their water needs on a wide information network to maximize the response and attract more buyers and sellers, enabling them to determine the best value. The Web site will utilize the Ariba business-to-business eCommerce platform for more efficient transfers of water resources, including dynamic pricing mechanisms such as auction, reverse auction, and bid/ask exchange solutions which Ariba gained through its recently completed merger with Trading Dynamics, Inc. SOURCE: Azurix Corp.