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RNS Number : 3468U
Deepverge PLC
01 August 2022
1 August 2022
DeepVerge PLC
("DeepVerge" or "the Company" or "the Group")
Modern Water secures GBP2.1m 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 GBP2.1 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 GBP30 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.
+44 (0) 7340 055
DeepVerge plc Gerard Brandon, CEO 648
SPARK Advisory Partners Limited Neil Baldwin/Andrew +44 (0) 113 370
(Nominated Adviser) Emmott 8974
--------------------- -----------------
Turner Pope Investments (TPI) Andy Thacker/James +44 (0) 20 3657
Limited (Broker) Pope 0050
--------------------- -----------------
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.
[i]
https://www.waterworld.com/home/article/16203241/indian-textile-deal-helps-modern-water-ship-first-allmembrane-brine-concentration-unit
[ii] https://www.worldwildlife.org/threats/water-scarcity
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