MWG.L Regulatory News (MWG)

28 Mar 2008 07:02

Modern Water PLC28 March 2008 Press Release28 March 2008 Modern Water broadens access to new technology Modern Water plc ("Modern Water") announced today that it has formed a strategicalliance with research-based consultancy group WRc plc to gain access to WRc'swater, wastewater and environmental intellectual property (IP). The alliance will enable Modern Water to assist with, and benefit from, thedevelopment and commercialisation of WRc's IP where both parties see mutualbusiness benefit. Modern Water plans to work with WRc to help attract investmentto projects where it sees commercial potential and the two companies will alsowork together on licensing agreements. Modern Water will benefit from newrevenue streams linked to the WRc technology. WRc provides consultancy in the water, waste and environment sectors. Withskills in the engineering, science, environmental, social and financial fields,WRc assists governments and regulatory bodies in the formation of regulation,and helps water utilities, their suppliers, local authorities and wasteorganisations to optimise operational efficiency and minimise risk. WRc has a strong research and development base and a proven track record ofdelivering quality-assured, innovative and technologically robust projectsaround the world. As part of the agreement, Modern Water will also benefit fromaccess to WRc's resource base, which includes a 200-strong team with a hugeamount of industry experience. Ron Chapman, WRc's Chief Executive Officer, said: "We are extremely pleased to be in partnership with Modern Water, and see thisas an excellent route to market for WRc's unexploited ideas and novelconcepts. We look forward to a close and successful relationship with ModernWater." Neil McDougall, Executive Chairman of Modern Water, said: "We are delighted to be working with WRc and are enthusiastic about what eachcompany will bring to the table. WRc's research capabilities combined withModern Water's focus on commercialising technology should make for an excitingand prosperous relationship." ENDS For further information, please contact: Modern WaterAlice More O'Ferrall 01483 696010 HeadLand ConsultancyDudley White 020 7367 5226Tom Gough 020 7367 5228 WRcJayne Matwiejczyk 01793 865075 www.modernwater.co.uk www.wrcplc.co.uk Notes to editors - Modern Water listed on the London Stock Exchange AIM market in June 2007 having raised £30m. - The Group was established to build and exploit a portfolio of water technologies to address problems of the availability of freshwater and the treatment and disposal of wastewater. - The Group is initially concentrating on two distinct approaches to the water market being: (i) desalination; and (ii) the substitution of fresh water with sea water or recycled water for certain non-potable uses. - The Group's strategy is to acquire key stakes in appropriate technologies within these areas and to date has made investments in Surrey Aquatechnology Limited and Poseidon Water Limited. The Group also has an investment in Cymtox Limited. This information is provided by RNS The company news service from the London Stock Exchange