MWG.L Share News (MWG)

(Sharecast News) - Modern Water announced on Wednesday that, following its collaboration agreement with Ion Exchange India in December, an order for the first of a two stage project with a total value of ?0.9m has been received.
The AIM-traded firm said the estimated net value it was expecting for stage one was ?50,000, and for both stages was between ?0.24m and ?0.27m.

It said the project consisted of an initial pilot plant for the zero-liquid-discharge system of the company's all-membrane brine concentration (AMBC) plant, and was expected to reduce the operational costs of wastewater treatment for the specialty chemical production facility of its collaboration partner.

On completion of the first stage, it was intended that a larger plant would be installed, with the smaller pilot AMBC plant to be used for demonstration with the partner's clients in projects across India, Oman, the United Arab Emirates and Saudi Arabia .

"Even with travel restrictions imposed by Covid-19, demand for the company's patented AMBC technology as a critical component of our end-to-end wastewater monitoring and recovery solution is growing," said chief executive officer Simon Humphrey.

"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."

At 1413 BST, shares in Modern Water were up 15% at 2.3p.