New Investors... A few of my fav bits from the last few RNS's11 May 2020 19:04
As you can see, a very good reason for the rise today.. and last week.
"The COVID19 public health crisis may have reached its first wave peak, but the next stage of managing future risk of spreading is the early monitoring of water and wastewater. Demand for equipment and our reagents continue to increase and we are delighted to have access to increased production volumes to allow us expand and the integrated AI development programme that enhances the Microtox value, improving revenue per client from existing equipment."
Having invested £20m 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.
Integumen has announced a further 100% expansion of its purpose-built product and development laboratories in York, UK, to 6,000 square feet, adding six more laboratory rooms to meet growing demand. Two of those laboratories will be allocated to the production of Modern Water's bacteria reagent. As part of the Agreement, a further three full-time laboratory technicians will be recruited to join Integumen's team of highly skilled scientific specialists in bacteria, virus and toxins.
The Agreement enables the Company to fulfil an order backlog of approximately $665,000 which it is not currently able to meet. The Agreement has an estimated value of $1.25m (£1.04m) per year for 3 years, worth a total of $3.75m (£3.12m), based on Modern Water's historic sales levels of reagent consumables, although is no guarantee that these revenue levels will be met. The revenue share split is 60% / 40% in favour of Modern Water, after costs, and is subject to rolling 12-month extensions thereafter.
Further to the announcement on 30 March 2020 notifying production commencement of the first batch of Modern Water ("MW") reagent, Integumen plc ("Integumen") has commenced shipping to meet the back-orders and growing demand for water contamination detection bacteria from existing clients. With the increase of water hygiene controls around the world due to the COVID-19 public health crisis, production volume has doubled to a list price value of £500,000 per batch. Revenues from sales of reagent produced under the revenue sharing manufacturing agency agreement with Integumen (the "Agreement") will be split 60% / 40% in favour of Modern Water, after costs. The Company expects that that sales of reagent under the Agreement will have a value of at least $1.25m in the current financial year.
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