DVRG.L Regulatory News (DVRG)

1 August 2022

DeepVerge PLC

("DeepVerge" or "the Company" or "the Group")

Modern Water secures £2.1m projects for chemical wastewater and water desalination

All Membrane Brine Concentration projects in Asia and North Africa

DeepVerge plc (AIM: DVRG) subsidiary Modern Water, announces new orders worth £2.1 million using All Membrane Brine Concentration (AMBC) technology to treat technically challenging wastewater for chemical plants in India and provide desalinisation services in water starved North Africa. These orders are expected to be delivered in the current financial year and in 2023.

The projects will be undertaken with Ion Exchange (India) Ltd (BSE:IONEXCHANG), having specialist divisions focused on water engineering in Asia and recently appointed partner Al Amaq Holding Co , an engineering firm focussed on the North African market.

Gerard Brandon of CEO DeepVerge plc, commented:

"In 2017, the first AMBC technology was installed in India followed by a slow introduction into China, South Asia and the Middle East before our move into North Africa. 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."

Fawzi Madi, Chairman of Al Amaq Holding Co, commented: 

"Innovative energy-saving water treatments and desalinisation technologies are needed as environmental regulations seek to address water scarcity by better management of this precious natural resource. Our partnership with Modern Water allows us offer industry, governments and local communities sustainable solutions that include world-leading toxicity monitoring, energy efficient water treatment, recovery and recycling of water."

Modern Water's AMBC

AMBC was launched in 2016 with the first installation in 2017[i]. Since then, a small number of installations have been undertaken in China, South Asia and India. The membrane technology is based on a £30 million investment, developed over 14 years, supported by a portfolio of patents owned by the Company. The AMBC technology includes a combination of reverse and forward osmosis membrane technology helping to reduce energy costs of water recovery, recycling and reuse by up to 40% in water stressed regions.

Global water crisis[ii]

Only 3% of the world's water is fresh water, and two-thirds of that is tucked away in frozen glaciers or otherwise unavailable for our use. As a result, some 1.1 billion people worldwide lack access to water, and a total of 2.7 billion find water scarce for at least one month of the year. Inadequate sanitation is also a problem for 2.4 billion people-they are exposed to diseases, such as cholera and typhoid fever, and other water-borne illnesses. Two million people, mostly children, die each year from diarrheal diseases alone.

Market Abuse Regulation (MAR) Disclosure

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

About DeepVerge plc (www.deepverge.com)

DeepVerge is an environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins; Utilising artificial intelligent data analytics to scientifically prove the impact of skincare product claims on skin.

About Modern Water (www.modernwater.com)

Modern Water owns, installs and operates advanced membrane systems using its world-leading membrane technologies; and develops and supplies advanced systems for water monitoring. For more information, visit.

About Al Amaq Holding Co (as per https://www.alamaq.ly/en/holding/)

Established in 2007. A few years later with changes in management, it expanded its operations by separating and growing Al Amaq Drilling and Oilfield Services in the year 2013, followed by AL Amaq Construction/Engineering and AL Amaq Import & Export.

As a Libyan Holding Company, it gives us the privilege to present to, local and international markets, our different expertise and activities. Together, we are participating in rebuilding Libya's Oil & Gas infrastructure along with revitalizing our countries economy.