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IDMDVRG
Deepverge PLC
28 October 2021
28 October 2021
DeepVerge PLC
("DeepVerge" or "Company")
Microtox(R) PD installations to be part of a
Government National COVID Infrastructure Trial
Modern Water, a division of DeepVerge (AIM: DVRG), announces it has been selected to contribute newly enhanced monitoring equipment, with a value of GBP0.48 million (including monitoring and consultancy fees) to be installed in a Government National COVID-19 Infrastructure Trial. The multiplex wastewater development trial is expected to last until the end of February 2022 and it is anticipated that revenue from these installations, on successful completion of the trial, will crystalize in the 2022 financial year .
Pandemic Response Equipment
The multiple unit installation consists of six upgraded Microtox(R) toxicity monitoring and new models of the Microtox(R) PD range for SARS-CoV-2 and other pathogen monitoring. In addition, software, data management capability, dashboards, encryption, and new AI models are fully integrated.
Gerry Brandon, CEO of DeepVerge plc, commented:
"Modern Water has been working on this project since March and we are delighted to finally have the Microtox(R) PD form part of a national government covid infrastructural trial for a long-term early-warning solution offering automated real-time and remote monitoring of COVID in wastewater detection.
"We continue to see a rise in interest in our real-time wastewater monitoring solutions from several governments and these installations follow on from last week's announcement of GBP2.2m of Microtox(R) PD shipments. With a growing recognition of the importance of wastewater, as well as our expertise, great science and cross-group teamwork from Modern Water, Labskin and Rinocloud, DeepVerge is well-placed to capitalise on current and future opportunities to work with governments, industries bodies and private companies to create a co-ordinated solution, not only to the current global pandemic but also future health challenges."
So that's roughly 80k per system,if all goes to plan and systems are installed throughout the country then the figures
soon go up
I believe someone said that there are 4,000 wastewater treatment plants in the UK. £80k a pop (if trial successful and the gov adopt it) would be revenues of £320m! Easily afordable to the UK gov.
China/cork can produce up to 200 units a month, so it would take just under two years to kit out the UK's waste water treatment plants.
All based on a successful trial and adoption, but fact the UK gov have even launched this trial means they are interested. Exciting times
Looks like we are already going to need a larger factory to assemble all these units. Great times ahead!
GLA
Congratulations to everyone connected to Deepverge!
All the best
Adapting the tech and getting it to successfully detect and monitor covid was a hurdle overcome months ago.
Getting government interest and securing contracts is the current hurdle. This RNS confirms the interest, and if it works as well as GB confirms it to then i can't see the UK gov saying "no"
Let's be honest, they know the economics as part of the trial. They probably wouldn't even entertain a trial if they expected to say "no" upon success
Good times ahead i feel
Couple quotes from August broker note as a reminder that more than 1 PD unit required per larger site...
"Realistically, a typical UK wastewater plant processing, say, 30 million cubic metres of wastewater/day, might have a need for several Microtox® PD units to ensure output from all sedimentation tanks can be adequately monitored. "
"China Resources, which operates in all 29 Chinese Provinces, is expected to play a key role in this national upgrade including assumption of significant oversight and responsibility for long-term monitoring. This is likely to be both for water/wastewater quality and an early warning system for identification/isolation of any localised viral outbreak etc. To put the scale of the opportunity now presented through these negotiations into context, a January 2018 article by WaterWorld Magazine noted that there are around 1,944 municipal wastewater treatment plants across China's city/urban regions and a further 1,599 municipal wastewater treatment plants across its counties, accounting for daily processing capacities of 140 and 29 million cubic metres respectively. These facilities are large compared with the UK’s more fragmented base, suggesting that a higher number of Microtox® PD installations/plant might be required."
This is not necessarily the UK Government, it is only referred to as a Government trial, first of many such announcements, my bet is this is Ireland, did the last RNS not say we shipped to the UK, China and India.
Lots of this news in the short term I think.
Well done to all involved.
GW..... back in March....... https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?iframe=true&article=31678204&company=Deepverge&iframe=true
"Modern Water to present at China Environmental Early Warning Monitoring Conference"
Coupled with, " Modern Water has been working on this project since March and we are delighted.....", from todays RNS..... :)
All the best (I'm plumping for China........ :()
1st.........
It did state the UK, but the UK specifically excludes Ireland. So its either in england, wales, scotland or northern ireland. All share the same central government, with country by country varriances
It goes hand in hand with the units recently shipped. So, it's either the UK, china or india. The latter two are bigger markets than the UK. So a grounded view is that if its "only" the UK then there is government interest from the smallest of the three
Really significant commercial traction is clearly happening with MicrotoxPD based on these recent RNS’s.
This could really snowball big time in the coming months especially when the Chinese JV is announced and DVRG get the consequential enhanced networking & distribution capabilities. This will likely increase the commercial potential for MicrotoxPD by orders of magnitude.
You have to realise that being in a JV with a Chinese big player doesn’t just give you better access to the Chinese market it also gives you better access to the whole Asian region as well as the likes of Africa where the Chinese connections and influence is very strong as they basically bankroll most of these places….
Can’t buy anything so far today, everything is negotiated orders so far.
Great news. Do we take from this no gov’s were involved in the £2.2m shipment?
Chesh - Would they be signing deals without a China resources deal signed? I cannot see it. We are expected to sign a deal while this trial runs, surely not?!
Very impressive progress, well done GB and the team.
Could be any country, probably either UK or China. Once fully demonstrated, this could have explosive worldwide growth. And why not, water is the vital resource.
Not sure why this is still in the 20s should be way way higher.
Steve,
Still early days, it was a non-rns so no monies shown. But this is only the start so expect a bit of volatility short term as traders come and go.
Says UK here:
"Environmental and life sciences group DeepVerge PLC (AIM:DVRG) said its Modern Water subsidiary was selected to contribute monitoring equipment to a UK government Coronavirus (COVID-19) infrastructure trial."
https://www.proactiveinvestors.co.uk/companies/news/964531/deepverge-says-modern-water-business-to-participate-in-government-covid-19-monitoring-trial-964531.html
T.Rat
Good find Sir! - Ends the speculation. Perhaps Mr Brandon will make an appearance on Proactive Investors later to discuss what I believe is significant progress and a pivotal RNS.
All the best
From the proactive investor article it flags that revenue from supply to this government trial “will not crystallise this financial year”……whilst in the 21st October RNS it states that the supply to UK, China, India would be “delivered this year”….
Seems pretty clear IMO that these two RNS cover for two distinctly separate supplies and there is no double dipping of the same supply happening as some posters on here are intimating….
28, the contracts usually come in two stages, capital for equipment, then revenue for services.
So aligned with the fact it's 'only' a Reach, the PD's are more likely to of been part of the previously announced batch but it's a big bonus if not!
Paulcon2021 - will that mean i have more transcribing to do :-0
Ragnarr
Good Morning - I guess so!! Maybe you should loosen up/stretch in anticipation!
I dropped in on ADVFN and saw that you were 'plying your trade over there' - They are a tough crowd!! Ha Ha Ha
All the best
I suppose which gov is irrelevant. UK would be great for sentiment but any will do. We know it works and soon they'll have their own proof to satisfy those at the top who make the big money spending decisions. This is more confirmation, not that we needed it, that this is going to be huge across the globe.