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.

Our NORWAFLOC® technology is scheduled to undergo piloting and full-scale qualification for sewage sludge treatment, serving a total population of 1,220,000 in Germany.

M Vest Water is delighted to announce a significant technological breakthrough in municipal wastewater treatment.

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.