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Water technology investment business moves ahead |
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Friday, 29 February 2008 |
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Modern Water, the water technology company which listed on the AIM market in June last year, has had a successful first six months trading.
The company, which raised £30 million via AIM, has posted an initial pre-tax loss of £1.7 million for the full year to the end of December.
Commenting on the results, Neil McDougall, Executive Chairman of Modern Water plc said:
“We are delighted to reflect on a successful first six months as a publicly listed company during which the Modern Water management team has been steadily delivering on the business plan. There has been a high level of interest in our desalination technologies and we are pleased to announce that we have agreed to install a proving plant in Gibraltar. This plant is due to be operational by mid 2008 and is a major break-through that will enable us to demonstrate the significant advantages of our desalination technology, including lower energy, capital and operational costs.”
The company believes its technology provides significant benefits over existing technologies. According to Modern Water, its technology has a positive impact on the environment as it reduces energy use by desalination plants and lowers the consumption and disposal of hazardous chemicals. Its processes also reduce or eliminate the harmful emissions of salt brine seen in traditional desalination plants.
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Albion Chemicals Ltd., the UK and Ireland’s leading chemicals distributor has signed a two year contract to supply water treatment chemicals to South Staffordshire Water Plc.
The new Vista Plus and Octopus loggers from Halma Water Management combine the unique measurement and data logging technologies and experience of Hydreka S.A. and Radcom Technologies.
The high performance TR Muncher from Mono® NOV, Europe’s leading designer and manufacturer of pumps, parts, grinders, screens and packaged systems, has been installed by Thames Water to improve efficiency at Bracknell Sewage Treatment Works by preventing pump blockages and minimising down time.
