AquaFence: The Flood Barrier for $10B in Real Estate

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Aug. 20 (Bloomberg) –- AquaFence CEO Adam Goldberg discusses how his company helps protect companies and properties from floods. He speaks on “Taking Stock.” (Source: Bloomberg)

The site of the world trade center, now the freedom tower, will have these kinds of defenses against flooding.

How did you come to be involved in the business?

I was in the insurance building and looking for someone to expand operations.

Just seems like the next big thing.

The world has been changing.

Everyone needs to protect from flooding.

How does it actually worked?

It is made with baltic laminate.

It basically lays out on the concrete.

It opens.

When the barrier opens, you have the weight of the water compressing on the horizontal panel, making it impossible to flip over.

Is it impossible to use?

A city block would run between 200,000-$400,000, sometimes a little more.

Where does it -- where is it made?

It is made in norway.

First brought to the u.s. in 2007. what was it created to do?

Originally to protect communities.

Mount vernon, washington, they used to have over 1000 people to ploy sandbags.

Now they have two dozen people spending three hours putting these in.

The manufacturing of this, does it take a lot of input, materials and employees?

Lik we have a small lead time, a couple of months.

Where is it currently deployed around the united states?

Probably 30 projects or more in new york city right now alone.

Some down at the restaurant in louisiana, which has been hit by a couple of hurricanes every few years.

Also in washington in the midwest.

As far as competition, you have sandisk.

Do they offer a stronger protection ? it is tested to be 100 times more effect it.

The cost is the same as sandbagging once.

Designed to be used 20-30 times.

You are always going to have spare parts that need to be replaced but it has been tapped -- tested up and down almost 100 times.

We have a project in new jersey where they are being left outside for the past year already.

What would this do to insurance rates?

Fm approval is part of the division that approves products to say we are ensuring you, go out and buy this.

Last year we received approval.

It helps the insurance rates in most instances.

And a lot of them and allows you to get flood insurance.

Many buildings in new york and other parts of the country, you cannot even get it.

You are living in a flood zone.

This gives people an option.

We have to leave it there.

Adam goldberg, the defect --

This text has been automatically generated. It may not be 100% accurate.

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