23 Dec 2019 17:01
Modern Water plc
("Modern Water", "the Company" or "the Group")
Modern Water obtains large order for its toxicity monitors from China and signs up a new partnership in India and the Middle East
For immediate release | 23 December 2019 |
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Modern Water plc (AIM: MWG) is pleased to announce that it has secured the sale of its largest single order for its Microtox® CTM to a customer in China. The total value of the order is US$335,000. Microtox® CTM is a site-based, broad range monitor which continuously measures the chemical toxicity of a water source, giving instant indication of water health. The equipment will be used for new hydrological and water treatment stations in Shanghai.
Modern Water is further pleased to announce that it has signed a collaboration agreement with Ion Exchange (India) Ltd, a large international specialist in water and environment management. Ion Exchange will integrate Modern Water's proprietary brine concentration technology and forward osmosis technology in its projects across India, Oman, the United Arab Emirates and Saudi Arabia.
Simon Humphrey, CEO of Modern Water, commented: "I am delighted that we have received our so far largest single order for CTMs. And in Modern Water's Membranes Division, we are proud that our innovative technology is going to be used by our new partners, Ion Exchange, a company with an annual turnover in excess of £123 million and which has completed thousands of water treatment installations across the globe."
Ajay Popat, President of Ion Exchange (India), added: "Modern Water's technology, both brine concentration and forward osmosis, is innovative and the right strategic fit to further improve competitiveness and attractiveness of our Zero Liquid Discharge solutions and brine recovery processes to our customers. We look forward to deepening our relationship with Modern Water."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
Modern Water plc | +44-(0)20 3827 3439 |
Simon Humphrey, Chief Executive |
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Cairn Financial Advisers LLP (Nominated Adviser) |
+44 (0) 20 7213 0880 |
Sandy Jamieson / Tony Rawlinson Ludovico Lazzaretti
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Turner Pope Investments (Broker) Andy Thacker / Zoe Alexander |
+44 (0) 20 3657 0050 |
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Notes to editors:
Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The Company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.
www.modernwater.com