REG - Deepverge PLC - Modern Water secures £2.1m projects

DeepvergeAnnouncement

01/08/2022 07:00

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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 £2.1m 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
£2.1 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  (#_edn1) .
Since then, a small number of installations have been undertaken in China,
South Asia and India. The membrane technology is based on a £30 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  (#_edn2)

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.

 

 DeepVerge plc                                   Gerard Brandon, CEO         +44 (0) 7340 055 648

 SPARK Advisory Partners Limited                 Neil Baldwin/Andrew Emmott  +44 (0) 113 370 8974

 (Nominated Adviser)

 Turner Pope Investments (TPI) Limited (Broker)  Andy Thacker/James Pope     +44 (0) 20 3657 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  (#_ednref1)
https://www.waterworld.com/home/article/16203241/indian-textile-deal-helps-modern-water-ship-first-allmembrane-brine-concentration-unit

 ii  (#_ednref2) https://www.worldwildlife.org/threats/water-scarcity

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