Australia's De.mem climbs on partnership with Canada-based Purafy Clean

DE.Mem

19/07/2022 03:27

** Shares of water treatment solutions provider De.mem
 DEM.AX  rise as much as 6.3% to A$0.170 - set to mark their
best day since June 28, if gains hold
    ** Co signs https://www.asx.com.au/asxpdf/20220719/pdf/45bz92psj6pym0.pdf
 partnership agreement with Canada-based Purafy Clean Technology
for commercialization of its graphene oxide enhanced membrane
technology
    ** DEM conservatively sees revenue from the partnership
during the initial market introduction phase at about A$300,000 
($204,780.00) and A$750,000 in the first and second year,
respectively for the North American and Australian markets
    ** Initially, co intends to promote Purafy's domestic water
treatment products into Australia and Singapore
    ** Says commercial launch into North American and Australian
markets is pending the completion of regulatory product
certifications 
    ** More than 135,000 shares change hands, compared with the
30-day average of about 61,000 shares 
    ** As of last close, DEM down ~28.9% YTD
    


     ($1 = 1.4650 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))