Modern Water PLC Agreement signed & EcoWaterOS Consortium (1141E)
26 February 2020 - 6:00PM
UK Regulatory
TIDMMWG
RNS Number : 1141E
Modern Water PLC
26 February 2020
AIM share code: MWG
26 February 2020
Modern Water plc
("Modern Water" or "Company")
Modern Water joins water monitoring EcoWaterOS Consortium
Signs heads of terms on revenue sharing agreement for water
crisis monitoring systems
Modern Water, the global water crisis monitoring and solutions
provider, announces that it has signed a non-binding heads of terms
with Cellulac plc ("Cellulac") to enter a multi-year framework
services agreement ("Agreement") to be completed on or before 31
March 2020 for the supply of water contamination monitoring
equipment, services and decontamination membrane solutions across
Cellulac's sales, marketing and distribution channels in
waste-water, chemical, bio chem ical, biofuel and biodegradable
plastic industries . The introduction to Cellulac was made by
Gerard Brandon, a proposed director of Modern Water.
Transitioning to a revenue-sharing collaborative and commercial
partnership strategy, Modern Water also announces it is joining the
EcoWaterOS Consortium, launched today by Integumen plc. This is an
end-to-end water contamination detection and decontamination
solutions provider network, for real-time monitoring and detection
of contaminated water.
Simon Humphrey, CEO of Modern Water commented:
"We are delighted to be able to provide the knowledge and
expertise of our water monitoring services and supplies along with
decontamination systems to the ecowaterOS multi-continental
consortium. This unique platform of integrated water management
systems, from contamination detection to decontamination is a world
first end-to-end hi-tech solution to community, regional and
continental-wide water shortages."
Gerard Brandon CEO Integumen plc, Cellulac plc and ecowaterOS
member commented:
"ecowaterOS is a global game-changer for water monitoring,
recovery, treatment and recycling as a direct result of climate
change. Bringing together multiple partners with a combined 32
years of tried and tested engineering skillsets added to smart AI
cloud-based data analytic technologies and best-in-class
engineering that has successfully operated at commercial scale in
the brewing, biofuel, chemical and wastewater industries."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Modern Water plc Simon Humphrey, CEO +44 (0)20 3827 3439
Sandy Jamieson
Cairn Financial Advisers Tony Rawlinson
LLP (Nominated Adviser) Ludovico Lazzaretti +44 (0)20 7213 0880
---------------------- ---------------------
Turner Pope Investments Andy Thacker / Zoe
(TPI) Limited (Broker) 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 GBP20m 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 EcoSystemOS (www.ecosystemOS.com)
Developed by the Rinocloud division of Integumen plc, this is a
consortium of partners operating a live dynamic water management
system that delivers safe clear water from rivers to wastewater
treatment plants using Artificial Intelligence to provide instant
alerts from remote sensors direct to stakeholders. It continuously
evolves, learns and improves by bringing together multiple existing
and smart technologies to create efficient water and deliver
environmental protection. Over-the-air monitoring keeps
stakeholders constantly up to date with web and mobile alert
applications adapted for each group.
About Cellulac plc
Cellulac is a group of companies with operations in Ireland and
headquarters in the United Kingdom. Activities range from the
production of natural oils and biodegradable plastic ingredients.
The production division capabilities include process engineering,
chemical engineering, biochemistry and polymer science. Cellulac
has been privately funded since 2012 from laboratory to the
commercial scale production of Omega 3 at a third-party facility in
the UK.
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END
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