30 Mar 2020 07:00
AIM share code: MWG
30 March 2020
Modern Water PLC
("Modern Water" or "Company")
UK bacteria production to detect water contamination begins amid COVID-19 public health crisis
Orders of water contamination detection consumables up 46% in Q1 2020 compared to Q1 2019
Modern Water announces that orders for water contamination detection bacteria consumables have increased by 46% in Q1 2020 compared to Q1 2019. Two months of stock have been shipped in the last two weeks amid growing demand, believed to be connected to the global COVID 19 public health crisis, from existing customers across Spain, Italy and China. Production by Integumen plc, of Modern Water's monitoring bacteria reagent has begun at the University of York, UK, 6 weeks ahead of the originally planned production date.
Simon Humphrey, CEO of Modern Water, commented:
"In the last two months we have been able to adapt quickly to our revenue sharing business model which will now give us access to higher volumes on two continents. With production laboratories in Delaware, US and our partner Integumen's production facilities coming on stream in York, UK, we have removed the continuity of supply risk for our customers. This puts Modern Water in a strong position to address the increased demand in a shorter time period, assuring clients as we reduce the order backlog and meet their growing need for our water monitoring products and services."
Regulatory requirements
Below are countries in which Modern Water Microtox Acute Reagent is an approved product to be used in order to make decisions on the safety of drinking water and wastewater effluent.
· Canada, Alberta Energy Regulator, Directive 050: Drilling Waste Management (August 2019)
· Mexico, Mexican Standard NMX-AA-112SCFI-2017: Water and Sediment Analysis - Acute Toxicity Evaluation with Vibrio fischeri - Test Method
· Spain, International Standard Organization, ISO 11348-3: Water quality - Determination of the inhibitory effect of water samples on the light emission of Vibrio fischeri (Luminescent bacteria test) Part 3: Method using freeze- dried bacteria
· Italy, International Standard Organization, ISO 11348-3: Water quality - Determination of the inhibitory effect of water samples on the light emission of Vibrio fischeri (Luminescent bacteria test) Part 3: Method using freeze- dried bacteria
· Taiwan, Environmental Protection Agency, NIEA B301.10C: Determination of the acute toxicity - luminescent bacteria test
· United States, large municipalities rely on Microtox Acute Reagent for water quality testing such as drinking water effluent, including but not limited to Fairfax Water (Fairfax, VA) and LA Dept of Water (Los Angeles, CA).
Modern Water plc | Simon Humphrey, CEO
| +44 (0)20 3827 3439 |
Cairn Financial Advisers LLP (Nominated Adviser)
| Sandy Jamieson Liam Murray Ludovico Lazzaretti | +44 (0)20 7213 0880 |
Turner Pope Investments (TPI) Limited (Broker) | Andy Thacker / Zoe Alexander | +44 (0) 20 3621 4120 |
About Modern Water
Modern Water was established in 2006 to develop and commercialise water recovery technologies to counter water crisis problems arising from climate change and a growing global population. 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.
About Integumen plc
Integumen is a scientific research and AI-as-a-Service company focused on production and analysis of bacteria, virus and toxins utilising artificial intelligent data analytics in regulatory technology, from scientifically proving the impact of skincare product claims on skin microbiome for top 10 global cosmetic company clients to remotely detecting water contamination in real-time.
About University of York
The University of York is a collegiate research university, located in the city of York, England. Established in 1963, the university has expanded to more than thirty departments and centres. With over £8 million of capital equipment, 2,000 square meters of laboratories, the purpose-built centre of excellence provides access to state-of-the-art bioscience technologies for external academic laboratories and commercial business users. It has all the relevant equipment needed to begin production of the water contamination detection bacteria immediately.