Bergen, Norway, June, 9 2023 – M Vest Water (EURONEXT: MVW) is delighted to announce a significant technological breakthrough in municipal wastewater treatment.
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Over the past year, MVW has achieved successful development and documentation of two new methods utilizing our NORWAFLOC® products for dewatering municipal sewage sludge.
Method 1:
The municipal sector in Germany is currently facing a pronounced and officially recognized shortage of Ferric Chloride, which has escalated into a long-term crisis. MVW presents a cost-effective and innovative solution that will effectively resolve this crisis by eliminating the requirement for Ferric Chloride. Our technological breakthrough has demonstrated the ability of NORWAFLOC® to completely substitute the extensive use of Ferric Chloride with MVW’s natural polymers in all sewage plants, where they through a lime/ferric sludge dewatering process use the end product as fertilizer on agricultural land.
MVW, in collaboration with German municipalities, shall execute pilot and full-scale qualification using this method in June, July, and August 2023 at two sewage treatment plants. These plants cater to populations of 50,000 and 600,000 individuals (p.e.) respectively. Contracts following the qualification phase are anticipated to be finalized in Q3.
The immediate target market comprises 10 similar plants, each designed for a capacity ranging from 600,000 to 1,200,000 p.e., exclusively located in Northern Germany.
Method 2:
Most sewage treatment plants currently use synthetic polyacrylamide polymers for sludge dewatering, followed by incineration of the sludge. However, MVW has successfully completed the development of a method that enables the replacement of 20 % of synthetic polymers with our NORWAFLOC® on a one-to-one basis. As a result, the discharged water exhibits significantly higher levels of cleanliness, while the dewatered sludge becomes substantially drier. This advancement translates to reduced weight and volume for transportation, decreased water content for incineration, and consequently, substantial cost savings for clients. Moreover, it contributes to significant energy savings and reductions in CO2 emissions, efforts that are well received by the German municipalities.
MVW, in collaboration with German municipalities, shall execute pilot and full-scale qualification using this method in June, July, and August 2023 at two sewage treatment plants. These plants cater to populations of 70,000 and 550,000 individuals (p.e.) respectively. Contracts following the qualification phase are anticipated to be finalized in Q3/Q4.
Municipal sewage represents a substantial market segment both in Germany and Europe. MVW is focusing on specific niches within this market in the near term, with estimated prospects of generating approximately 50 MNOK in annual recurring revenues.
This is a crucial milestone for MVW’s establishment in Germany and Europe, as it demonstrates the compliance of our NORWAFLOC® product within the global 240 BUSD flocculant/coagulant market, of which the municipal sector accounts for more than 50 % of the consumption within this market.
For further information, please contact:
Stein Giljarhus, CEO
stein.giljarhus@mvestwater.com
+47 90 54 08 32
Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70
About M Vest Water AS:
M Vest Water is an environmental technology company which has developed unique products and solutions to the water treatment industry, both Industrial as well as the Municipal markets. The products are non-toxic, biodegradable and without any harm to the environment. It obtains the highest degree of purification in a cost-efficient arrangement.
M Vest Water is listed on Euronext Growth under the ticker MVW. For more information, visit www.mvestwater.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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