Modern Water PLC Agreement signed & EcoWaterOS Consortium (1141E)

TIDMMWG

RNS Number : 1141E

Modern Water PLC

26 February 2020

AIM share code: MWG

26 February 2020

Modern Water plc

("Modern Water" or "Company")

Modern Water joins water monitoring EcoWaterOS Consortium

Signs heads of terms on revenue sharing agreement for water crisis monitoring systems

Modern Water, the global water crisis monitoring and solutions provider, announces that it has signed a non-binding heads of terms with Cellulac plc ("Cellulac") to enter a multi-year framework services agreement ("Agreement") to be completed on or before 31 March 2020 for the supply of water contamination monitoring equipment, services and decontamination membrane solutions across Cellulac's sales, marketing and distribution channels in waste-water, chemical, bio chem ical, biofuel and biodegradable plastic industries . The introduction to Cellulac was made by Gerard Brandon, a proposed director of Modern Water.

Transitioning to a revenue-sharing collaborative and commercial partnership strategy, Modern Water also announces it is joining the EcoWaterOS Consortium, launched today by Integumen plc. This is an end-to-end water contamination detection and decontamination solutions provider network, for real-time monitoring and detection of contaminated water.

Simon Humphrey, CEO of Modern Water commented:

"We are delighted to be able to provide the knowledge and expertise of our water monitoring services and supplies along with decontamination systems to the ecowaterOS multi-continental consortium. This unique platform of integrated water management systems, from contamination detection to decontamination is a world first end-to-end hi-tech solution to community, regional and continental-wide water shortages."

Gerard Brandon CEO Integumen plc, Cellulac plc and ecowaterOS member commented:

"ecowaterOS is a global game-changer for water monitoring, recovery, treatment and recycling as a direct result of climate change. Bringing together multiple partners with a combined 32 years of tried and tested engineering skillsets added to smart AI cloud-based data analytic technologies and best-in-class engineering that has successfully operated at commercial scale in the brewing, biofuel, chemical and wastewater industries."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 
 Modern Water plc            Simon Humphrey, CEO     [phone] 
                             Sandy Jamieson 
 Cairn Financial Advisers     Tony Rawlinson 
  LLP (Nominated Adviser)     Ludovico Lazzaretti    [phone] 
                            ----------------------  --------------------- 
 Turner Pope Investments     Andy Thacker / Zoe 
  (TPI) Limited (Broker)      Alexander              [phone] 
                            ----------------------  --------------------- 
 

About Modern Water

Modern Water was established in 2006 to develop and commercialise water recovery technologies to counter water crisis problems arising from climate change and a growing global population. Having invested GBP20m over the last 14 years, the results comprise of a robust patent portfolio of cutting-edge technology, focused on monitoring of contaminated water and decontamination of wastewater, making recycling of water more efficient. Six countries across the world have legislated that Modern Water monitoring test systems are written into their environmental protection legislation.

About EcoSystemOS (www.ecosystemOS.com)

Developed by the Rinocloud division of Integumen plc, this is a consortium of partners operating a live dynamic water management system that delivers safe clear water from rivers to wastewater treatment plants using Artificial Intelligence to provide instant alerts from remote sensors direct to stakeholders. It continuously evolves, learns and improves by bringing together multiple existing and smart technologies to create efficient water and deliver environmental protection. Over-the-air monitoring keeps stakeholders constantly up to date with web and mobile alert applications adapted for each group.

About Cellulac plc

Cellulac is a group of companies with operations in Ireland and headquarters in the United Kingdom. Activities range from the production of natural oils and biodegradable plastic ingredients. The production division capabilities include process engineering, chemical engineering, biochemistry and polymer science. Cellulac has been privately funded since 2012 from laboratory to the commercial scale production of Omega 3 at a third-party facility in the UK.

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 [e-mail] or visit www.rns.com.

END

AGRBRGDDBUDDGGU

(END) Dow Jones Newswires

February 26, 2020 02:00 ET (07:00 GMT)