Release: Q1 2024 results

M Vest Water today published the financial results for the first quarter of 2024 - Contracts in core industries position MVW for further growth

Highlights: 

• First sales to the Oil & Gas market in the Middle East.

• Secured order backlog of 6 MNOK revenue in Q2.

• Signed a new distribution agreement for NORWAFLOC® in Germany.

• Contract award and repeat orders from a major Norwegian salmon slaughterhouse.

• Private placement completed, securing 28 MNOK in capital.

M Vest Water is intensifying sales and marketing activities to secure new contracts and strengthen the order backlog in core segments.

“We’re pleased to see our products and solution being commercially validated by customers. Water- and sludge treatment is a major challenge, and current alternatives lead to synthetic chemicals being left in nature. We’re confident that our green technology will play a key role in tomorrow’s water treatment”, says CEO Stein E. Giljarhus.

M Vest Water has global operations within its key segments Oil & Gas, Aquaculture, and Municipal Wastewater.

“Up until now, the organization has focused on preparing our supply chain, investing in product development and adaption as well as increasing our tender activity. We are now scaling up for further growth”, adds Giljarhus.

The report, presentation and recording of the live webcast can be accessed here.