Modern Water PLC Sichuan China orders cGBP0.4m of Modern Water units (8279N)

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RNS Number : 8279N

Modern Water PLC

26 May 2020

AIM share code: MWG

26 May 2020

Modern Water PLC

("Modern Water" or "Company")

Sichuan Province China orders Modern Water equipment worth cGBP410,000

Modern Water is pleased to announce that it has secured the sale of its largest single order for 20 Microtrace(R) PDV ("PDV") units and 7 sets of related consumables in China. The total value of the order is CNY3.56 million (cGBP410,000). Following a directive from the Sichuan Department of Ecology and Environment Office, the new PDV units, which measure trace metals in water, soil and food, will be used to improve the province's emergency response to environmental emergencies and overcome a shortfall to provide comprehensive analysis on water quality.

Simon Humphrey, CEO of Modern Water, commented:

"Following the 2019 launch in China of Modern Water's award winning Microtox LX laboratory water testing unit and the recent confirmation of the 10 industrial scale Microtox CTM units to be shipped in the 3rd quarter, yet another milestone order size and value for 20 of our new Microtrace PDV portable water contamination test units increases Modern Water's exposure to water health and safety in China.

"All Modern Water equipment require consumables and have the option to be upgraded with AI-As-A-Service offering predictive water contamination alerts based on accumulated historical data that may contribute to increased revenue per client."

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     Liam Murray 
  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.

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May 26, 2020 02:00 ET (06:00 GMT)