Modern Water PLC First Modern Water wastewater AMBC order for India (6958M)
13 Mayo 2020 - 1:00AM
UK Regulatory
TIDMMWG
RNS Number : 6958M
Modern Water PLC
13 May 2020
AIM share code: MWG
13 May 2020
Modern Water PLC
("Modern Water" or "Company")
First Modern Water patented AMBC wastewater plant order from Ion
Exchange (India)
Modern Water is pleased to announce that, following the
collaboration agreement with Ion Exchange (India) Ltd (RNS: 23
December 2019 [i] ), an order for stage one of a two stage project
with a total value of c. GBP900,000 project has been received. The
estimated net value to Modern Water for stage one is approximately
GBP50,000 and for both stages is between c. GBP235,000 and c.
GBP270,000.
The project consists of an initial pilot plant for the
zero-liquid-discharge system of the Company's All-Membrane Brine
Concentration ("AMBC") plant and is expected to reduce the
operational costs of wastewater treatment for the specialty
chemical production facility of our collaboration partner. On
completion of stage one, it is intended that a larger plant is to
be installed with the smaller pilot AMBC plant to be used for
demonstration with our collaboration partner's clients in projects
across India, Oman, the United Arab Emirates and Saudi Arabia .
Simon Humphrey, CEO of Modern Water, commented:
"Even with travel restrictions imposed by COVID19, demand for
the Company's patented AMBC technology as a critical component of
our end-to-end wastewater monitoring and recovery solution is
growing. This first order from our Indian collaborators builds on,
and is complementary to, the recent transformation of the Company's
business model that has helped improve sales in our global
monitoring division, with its 30 year global footprint of the
Microtox range of products and services."
Ajay Popat, President of Ion Exchange (India), added:
"As we said on signing of our collaboration agreement, Modern
Water's technology, both brine concentration and forward osmosis,
are innovative and the right strategic fit to further improve
competitiveness and attractiveness of our Zero Liquid Discharge
solutions and brine recovery processes to our customers. We are now
ready to move to the first installation as we deepen our working
relationship with Modern Water."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Modern Water plc Simon Humphrey, CEO +44 (0)20 3827 3439
Sandy Jamieson
Cairn Financial Advisers Liam Murray
LLP (Nominated Adviser) Ludovico Lazzaretti +44 (0)20 7213 0880
---------------------- --------------------
Turner Pope Investments Andy Thacker / Zoe
(TPI) Limited (Broker) Alexander +44 (0)20 3657 0050
---------------------- --------------------
About Modern Water
Modern Water was established in 2006 to develop and
commercialise water recovery technologies to counter water crisis
problems arising from climate change and a growing global
population. Having invested GBP20m over the last 14 years, the
results comprise of a robust patent portfolio of cutting edge
technology, focused on monitoring of contaminated water and
decontamination of wastewater, making recycling of water more
efficient. Six countries across the world have legislated that
Modern Water monitoring test systems are written into their
environmental protection legislation.
About Ion Exchange (India) Ltd
Ion Exchange (India) Ltd, is a large international specialist in
water and environment management with expertise, experience and a
sales, marketing and distribution channel complementary to Modern
Water's desire to expand in to India and provides access for Modern
Water's proprietary brine concentration technology and forward
osmosis technology into its own production projects and their
clients across India, Oman, the United Arab Emirates and Saudi
Arabia.
[i]
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/MWG/14361021.html
This information is provided by RNS, the news service of the
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END
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