DeepVerge PLC - Dublin-based environmental and life science group - Subsidiary Modern Water has won new orders worth GBP2.1 million. It will use its all membrane brine concentration technology to treat wastewater for chemical plants in India and provide desalinisation services in North Africa. The orders are expected to be delivered in its current financial year and in 2023.
DeepVerge says the projects will be undertaken with Ion Exchange (India) Ltd, which has specialist divisions focused on water engineering in Asia.
Chief Executive Officer Gerard Brandon comments: "Collaborating with local and regional engineering partners has increasingly highlighted the value of our AMBC water recovery technology in high water-stressed territories. The results, over a three-year period, have led to a recent increase in demand that contributed to more than doubling Modern Water revenues in 2021 and improved the size of the AMBC order book for 2022 and 2023."
Current stock price: 15.80 pence, up 3.6% on Monday morning
12-month change: down 42%
By Sophie Rose; sophierose@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.