Announcement
Modern Water PLC : Sale of AMBC for Korea Salt Production Facility
RNS Number : 5212U
Modern Water PLC
25 November 2019
Modern Water plc
("Modern Water", "the Company" or "the Group")
Modern Water sells its largest-ever AMBC for Korea Salt Production Facility
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For immediate release |
25 November 2019 |
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Modern Water plc (AIM: MWG) is pleased to announce that it secured the sale of its largest by volume All-Membrane Brine Concentrator technology ("AMBC"), to be used in South Korea's first deep seawater salt production project. The plant will have capacity for treating approximately 13m3/h, concentrating sea water sourced from a depth of up to 600m. Salt production from seawater offers environmental benefits compared to land-based salt mining, which can result in environmental problems due to the waste it generates and the health hazards posed to salt miners.
The AMBC project will be executed by Modern Water, owner of leading technologies for water and wastewater treatment, in conjunction with its partner in China, Hangzhou Shangtuo Environmental Science and Technology Co., Ltd ("Sunup").
Simon Humphrey, CEO of Modern Water commented: "Our partnership with Sunup is capable of delivering our innovative technology directly to customers across China - and now also in Asian markets beyond China, such as South Korea. This is Modern Water's largest single AMBC plant yet and follows on from various successful plants we have designed with our partners in India and China."
Noah Tan, CEO of Sunup, added: "As the key process in this salt production project we will be using Modern Water's AMBC, the high saline modular concentration technology. AMBC allows our customers to achieve higher concentration levels than traditional membrane techniques and reduces the need for chemicals in salt production. AMBC is a step-change in efficiency, significantly reducing operating costs for our customers. It is also versatile and can be used across many different industries."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
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Modern Water plc |
+44-(0)20-38273439 |
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Simon Humphrey, Chief Executive
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Cairn Financial Advisers LLP (Nominated Adviser) |
+44 (0) 207 213 0880 |
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Sandy Jamieson / Tony Rawlinson Ludovico Lazzaretti
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Turner Pope Investments (Broker) Andy Thacker / Zoe Alexander |
+44 (0) 20 3657 0050 |
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Notes to editors:
Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The Company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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