CEO Stein Giljarhus appeared in an interview today in Finansavisen TV (a Norwegian daily newspaper covering business and economic current affairs). The interview focused on M Vest Water's superior product offerings in the water treatment market and how the coming regulatory changes in Europe will necessitate a change in the water treatment industry towards more environmentally friendly solutions.
Giljarhus spoke about how this change will drive demand for the very products that M Vest Water has pioneered, and how, with the establishment of a permanent presence in mainland Europe, M Vest Water will be in an excellent position to meet this demand.
M Vest Water released its second quarter and first half-year report for 2022 on September 13th. The presentation and report can be downloaded here:
For further information, please contact:
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.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Morten Hilton Thomassen, CFO, M Vest Water, on March 2nd, 2022 at CET 23:00.
Today M Vest Water announces our fully owned subsidiary, “M Vest Water GmbH”, in Germany. This will ensure improved logistical operations and allow our sales and service teams to work more closely with our customers in Germany and the European market.
M Vest Water GmbH is located in the Bavaria region in Germany, and is a technology centre with modern offices, a fully operational laboratory, and a group of highly qualified German key personnel.
This will be MVW’s operational base serving the European Union, and in particular Germany. Arrangements for production out-sourcing and logistics to serve the European market through M Vest Water GmbH has been identified and decided. This will help secure a predictable and stable supply of NorwaFloc® products in sufficient quantities to meet European demand in the future.
The German entity will have a central role in product supply / logistics, sales and market penetration. It will serve the German market in particular, but also other markets within EU.
M Vest Water GmbH is already successfully executing full scale qualifications with major clients within the” high volume” flocculant consumers market in sludge dewatering in several industries. This ongoing activity executed by M Vest Water GmbH now provides the commercialization of NorwaFloc® in said high volume market segments where MVW expect dredging sludge dewatering and sand and gravel sludge dewatering to be field proven, commercialized, and ready for launch in Q4 2022.
The foundation of M Vest Water GmbH is in line with the company's strategy and business plans. MVW is now established in the centre of the European market.
M Vest Water today announces a strategically important breakthrough for the patented NorwaPol technology.
This is a patented process technology where our proprietary NorwaFloc® bio-flocculant is dosed into wastewater for subsequent removal of pollution in MVW's NorwaPol filter.
MVW, in collaboration with one of the major US-based global oil and gas operators, has succeeded in an average treatment efficiency of 99.99% in removal of oil from produced water in a pilot at a US onshore oilfield.
The operational performance and technical results have been proven superior relative to nutshell filtration which today is the dominating technology in this global multibillion-dollar Oil & Gas treatment market segment. NorwaPol is thoroughly tested and will be implemented at full-scale in a large Norwegian Oil & Gas process plant in Q4 2022. Our NorwaPol technology is now technically and commercially proven.
Nutshell filters were designed to separate crude oil from oilfield produced water in the 1970s, which remains the principal use. MVW's NorwaPol operational performance and technical results have been superior relative to nutshell filtration.
Pictured: Untreated versus treated produced water with NorwaPol technology.
Pictured: Sample bottles where the backwash water gradually becomes cleaner minute-by-minute over a 10-minute period. The sample bottle to the right is totally clean, and also the filter media is totally cleaned after only 10 minutes. That is 5 times faster regeneration than nutshell filters in addition to significantly cleaner filter and higher treatment efficiency compared to nutshell post the cleaning process.
Produced water is water from underground formations that is brought to the surface during oil or gas production. Because the water has been in contact with hydrocarbon-bearing formations, it contains some of the chemical characteristics of the formations and the hydrocarbons. It may include water from the reservoir, water previously injected into the formation, and any chemicals added during the production processes.
Produced water volumes have dramatically increased over the last decade and are expected to keep rising for the foreseeable future. Industry now has a need to recycle this water for use in stimulation of production and to treat the produced water to water quality applicable for agricultural use. In consequence there is an increased requirement for polishing filters capable of high performance at high flow rates.
An important milestone has now been achieved and the company is entering the commercial phase in this Oil & Gas business segment with a disruptive replacement for the globally leading nutshell filtration process.
NorwaFloc® bio-flocculant in combination with NorwaPol filter will be the disruptive technology to shape the future.
M Vest Water is pleased to invite investors, analysts and other stakeholders to the presentation of our Q2 and 1H 2022 results on Tuesday, 13 September 2022 at 11:00 AM CET. The event will be held on webcast and there will be a Q&A session after the presentation.
The presentation material will be released Tuesday 13 September 2022 at 08:00 AM CET.
The live webcast can be accessed through the following link: https://us06web.zoom.us/webinar/register/WN_3gnMFahcRoOWuTMnd-4wzA
Expected duration: 30 minutes incl. Q&A.
The recording of the webcast will be published on the Company's website afterwards.
For any questions, please contact:
Morten Hilton Thomassen, CFO
+47 92 25 85 70
M Vest Water has received orders from two waste management plants for treatment of highly oil-contaminated water related to oil production in the North Sea.
The orders include environmentally friendly chemicals (NorwaFloc®) for treatment of produced water and slop water. For produced water the order includes our patented polishing process NorwaPol, where NorwaFloc® is added prior to automatic backwash media filtration vessels. The vessels include state-of-the-art activated filter media AFM®, effectively multiplying the filtration performance.
Stein Giljarhus, CEO commented: “This is a “proof of technology” for MVW. We have proven that we can supply the oil and gas industry with environmentally friendly and sustainable solutions, enabling significant reduction of harmful discharge to nature. Our technology is now field proven and several international oil companies are requesting field trials and qualifications for defined commercial projects.”
M Vest Water can also notify that several of the Company’s client projects in other segments of our services, now enters final stages of ongoing comprehensive qualification programs for commercialization.
M Vest Water continues strong focus on delivering products and services at the highest standards.
M Vest Water released its Q1 results for 2022 on May 2nd. The presentation and Q1 Report can be downloaded here.
M Vest Water is pleased to invite investors, analysts and other stakeholders to the presentation of our Q1 2022 results on Tuesday, 3 May 2022 at 10:00 CET.
Today is World Water Day. On this day we reflect on the importance of the UN’s Sustainable Development Goal 6: water and sanitation for all. It is a day to celebrate water and raise awareness of the 2.2 billion people living without access to safe water around the world. This year’s focus is groundwater, an invisible but extremely important resource that is vital to life.
In this article published in the March issue of H2O Global News, M Vest Water’s CTO Atle Mundheim explores the role of technology innovation such as its NorwaFloc® green flocculant in addressing the problem of PFAS.