Artesian Wastewater Management, Inc. Closing Acquisition of Tidewater Environmental Services, Inc.

Artesian Resources Corporation

NEWARK, DE — Artesian Resources Corporation (Artesian) (NASDAQ: ARTNA) announced on Friday that its wholly-owned subsidiary, Artesian Wastewater Management, Inc. (AWMI), closed on its $6.4 million purchase of all of the stock of Tidewater Environmental Services, Inc. (TESI), a Delaware-based regulated wastewater utility.

The acquisition of TESI adds approximately 3,600 wastewater customers, 7 wastewater facilities, and 13,000 acres of exclusive franchise territory to AWMI’s systems in Sussex County, Delaware. “This transaction is in the best long-term interest of the TESI customers and our shareholders. Artesian is committed to serving its new and existing customers with integrity and reliability and in a manner that respects the environment and preserves the water cycle,” said Dian C. Taylor, Chair and CEO of Artesian.

AWMI utilizes spray irrigation techniques to recycle treated effluent onto agricultural land, where it recharges and replenishes aquifers and provides water for crops. This method of recycling wastewater is a proven way of improving the quality of local groundwater while providing beneficial nutrients to help plants grow, preserving agricultural open space and the local water cycle. “We have invested millions in technological and infrastructure upgrades to ensure our processes are environmentally sustainable, cost-effective, safe and responsible. We share with Delaware’s residents a deep appreciation and understanding of our state’s critical habitats and natural resources,” said Dian Taylor.

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AWMI has provided wastewater services in Delaware for over two decades, disposing over 1.3 billion gallons of wastewater from homes and businesses throughout the state at six different facilities during 2021. “Our acquisition of TESI will allow AWMI to obtain further operational synergies and regionalization of systems providing wastewater service in Sussex County, Delaware. That includes further optimization of our Sussex Regional Recharge Facility near Milton, which is well equipped to serve local businesses and rapidly growing communities in the area. I am confident that our operations will play a critical role in creating lasting solutions for wastewater management in an environmentally responsible way,” said David Spacht, President of Artesian Wastewater Management, Inc.

Artesian will welcome its new TESI customers with information sessions and welcome packets.

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