M Vest Water has signed two contracts for delivery of water treatment equipment to Downstream Marine AS (DSM), Norway.
The deliveries are planned to be completed within end of Q2 - 2024 and has a total contract value of approx. NOK 6 million. The equipment is prepared for the use of NORWAFLOC® and MVW foresee potential recurring revenues when the equipment comes into operation.
One contract is to be delivered to a salmon slaughterhouse in Norway. This is the second equipment delivery MVW makes to the salmon industry under the excellent collaboration with DSM.
The second contract will be delivered to a slaughterhouse for pelagic fish in Norway. This is a new and important segment for MVW and a spin-off from the launch of the total solution for treatment of blood water and sludge from salmon slaughterhouses.
Our CEO Stein E. Giljarhus highlights “These two contracts strengthen our collaboration with DSM and establish MVW as a supplier of process equipment for water and sludge treatment within the aquaculture industry, and significantly facilitates the sales of our NORWAFLOC technology.”
M Vest Water is delighted to announce an important status update with reference to our technological breakthrough in municipal wastewater and sludge treatment, which was announced on June 9 and September 8, 2023.
MVW has now successfully finished the first full-scale treatment at the large municipal treatment plant Kläranlage Osnabrück, which is catering 250,000 people.
In full-scale operation we have now fully commercially qualified the excellence of our natural NORWAFLOC® product. MVW has performed full-scale repetition of the promising small-scale trial in September. We reduced the normal current chemical consumption of Ferric and Calcium with 60% in their sludge dewatering process. Additionally, this substitution to NORWAFLOC® resulted in a 4-5% drier solid waste to transport and reuse as agricultural fertilizer. These results represent substantial cost- and operational benefits for the municipalities.
As stated in our earlier announcements: In Germany, there are approximately 1,000 municipal wastewater plants out of a total of 9,600 that dispose their dewatered sludge as agricultural fertilizer. The current Ferric supply shortage to municipalities in Germany is a declared and severe crisis in terms of accessibility versus demand. Distributors of Ferric Chloride have challenges to meet the demand and have due to this become important customers to MVW.
MVW is currently in the process of conducting pilots and full-scale qualifications for dewatering of municipal sewage sludge at six large treatment plants in Germany, catering to a total of 1,500,000 people.
“MVW is very pleased to announce that we have reached the milestone of full commercial qualification in the segment for municipal sludge reused as fertilizer. The commercial and technical advantages of our solution are clear, and it is pushed forward by strong market drivers from authorities, municipalities, and chemical distributors. The work to incorporate our NORWAFLOC® in major distributors existing contracts with municipalities is well under way, and tendering work has started. By this business model we save time and bypass public tendering procedures, hence we address distributors with running long-term contracts with municipalities”, says MVW CEO Stein E. Giljarhus.
M Vest Water has been awarded two separate contracts from Aquateam COWI AS.
Aquateam COWI has chosen MVW as one of the technology providers in a comprehensive research project to bring forth technical solutions for a challenging wastewater treatment task to the highest environmental standard on behalf of a Norwegian major industrial client.
The contracts relate to extensive pilot plant qualification programs serving as a scientific basis to recommend design and installation of two permanent wastewater treatment plants.
“These awards from Aquateam COWI represent for us valuable recognition of MVW’s technology and competence from one of the highest ranked research and expert institutions in water treatment in Norway”, says MVW CEO Stein Giljarhus.
Bergen, Norway, November 27, 2023 – M Vest Water has been awarded a contract from a major global petrochemical producer for the delivery of our NORWAPOL® process in one of the clients existing Norwegian water treatment plants for boiler feed water.
The NORWAPOL® technology shall, in a first step, replace 1 out of 3 sand filters as pre-treatment upstream an existing ion-exchange resin (a water softening filter). This is in order to obtain better feed water quality for this resin and subsequently improve the quality of the boiler feed water. Subject to the results and findings from the operation of the NORWAPOL® over time, the objective is to replace the other two filters with NORWAPOL® technology. The total water flow to be treated is 70 – 170 m3/h across all three filters.
“We have previously successfully qualified our NORWAPOL® technology as pretreatment upstream ion-exchange in the Oil & Gas segment in the USA under different water qualities and conditions (produced water). MVW is very pleased that a renowned global quality company has chosen the stepwise NORWAPOL® implementation in their water treatment plant in Norway. The polishing of boiler feed water, in general, is a large market, and this commercial project is a very important step for MVW entering another door into this market with our technology,” says MVW CEO Stein Giljarhus.
M Vest Water released its Q3 results for 2023 on Nov 14th. The Q3 Report can be downloaded here below.
We plan to invite investors, analysts, and other stakeholders to a business update scheduled for early December. Further details will be announced in advance.
Chief Financial Officer / IR
Phone: +47 922 58 570
Email: mht@mvestwater.com
CEO
Phone: +47 90 54 08 32
Email: stein.giljarhus@mvestwater.com
M Vest Water released its Q2/1H results for 2023 on Sept 12th. The presentation and Q2/1H Report can be downloaded here:
PDF - M Vest Water - Q2/1H 2023 Investor Presentation
PDF - M Vest Water - Q2/1H 2023 Report
View the webcast
Chief Financial Officer / IR
Phone: +47 922 58 570
Email: mht@mvestwater.com
CEO
Phone: +47 90 54 08 32
Email: stein.giljarhus@mvestwater.com
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.
M Vest Water is pleased to invite investors, analysts and other stakeholders to the presentation of our Second quarter and first half-year 2023 report on Tuesday, 12 September 2023 at 11:00 AM CET. The event will be held via webcast and there will be a Q&A session after the presentation.
The presentation material will be released Tuesday 12 September 2023 at 07:00 AM CET.
The live webcast can be accessed through the following link: https://us06web.zoom.us/webinar/register/WN_m4on_TSXScGDFlkokQgYdw
Expected duration: 30 minutes incl. Q&A.
The recording of the webcast will be published on the Company's website afterwards.
Chief Financial Officer / IR
Phone: +47 922 58 570
Email: mht@mvestwater.com
CEO
Phone: +47 90 54 08 32
Email: stein.giljarhus@mvestwater.com
From 5-8 September 2023, you can find us at the SPE Offshore Europe conference & exhibition in Aberdeen, Scotland.
SPE Offshore Europe is the offshore industry’s main meeting point and a platform for better energy futures. On its 50th anniversary, the mission is to create a space for collaboration and learning in order to drive the sector forward, bringing together the entire energy value chain.
We would like to welcome you to our stand #1C22 during the event to learn more about M Vest Water and how we can support you.
More information about SPE Offshore Europe can be found here:
Offshore Exhibition UK | SPE Offshore Europe (offshore-europe.co.uk)
M Vest Water has entered into business partnerships with Downstream Marine AS and Bioretur AS.
With this, MVW together with its business partners now offers a total solution for treatment of bloodwater and sludge management to the salmon slaughterhouse industry. The solution will be launched at the AQUA NOR Exhibition coming week in Trondheim.
Meet us at Bioretur’s stand E-433. (AQUA NOR)
We are excited to share that M Vest Water have entered into a frame agreement with SAR AS (SAR), a leading waste management partner and service provider in Norway.
The frame agreement includes recurring supply of water treatment chemicals from our NORWAFLOC® product line. Furthermore, MVW shall provide extensive technical support, laboratory services and advisory in wastewater and sludge management across SAR’s seven facilities in Norway.
The duration of the frame agreement is 5 years followed by annual extension. The contract will provide MVW with predictable annual recurring revenue from the sale of products and services.
The supply of our NORWAFLOC® products to SAR's water treatment plant in Mongstad, starts immediately.
"We are pleased to have been given the opportunity to enhance our customer's water treatment system with our environmentally friendly technology, facilitating sustainable and cost-efficient management of highly contaminated wastewater and sludge," comments Stein Giljarhus, CEO of MVW.
SAR is the major provider of treatment of industrial wastewater and slop water from the Oil and Gas industry in Norway. SAR has several sites strategically located along the coast. SAR's biological water treatment plant at Mongstad is the largest treatment plant of its kind in Norway, with a permit for annual treatment capacity and discharges in accordance with strict requirements of 240,000 cubic meters.
“MVW has provided valuable assistance in addressing several challenging batches of highly polluted water over the past year. In Q1 this year, we conducted a two-month full-scale qualification at SAR Mongstad, integrating MVW's products and solutions into our primary water treatment process resulting with substantially improved water treatment efficiency. Additionally, we are observing a notable operational improvement in the treatment plant. This further demonstrates SAR`s strong commitment towards the green shift” says Tor Olav Schibevaag, CEO of SAR.