Second quarter and first half-year results

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

Morten Hilton Thomassen

Chief Financial Officer / IR
Phone: +47 922 58 570

Stein Giljarhus

Phone: +47 90 54 08 32

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.


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.

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Invitation to webcast – Second quarter and first half-year 2023 report

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:

Expected duration: 30 minutes incl. Q&A.

The recording of the webcast will be published on the Company's website afterwards.

Morten Hilton Thomassen

Chief Financial Officer / IR
Phone: +47 922 58 570

Stein Giljarhus

Phone: +47 90 54 08 32

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SPE Offshore Europe Conference & Exhibition

We are attending the SPE Offshore Europe! 

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 (

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Announcement of business partnerships with Downstream Marine AS and Bioretur AS

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)

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M Vest Water awarded contract with SAR Gruppen

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.

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Breakthrough for MVW’s NORWAFLOC® technology in municipal wastewater treatment

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.

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Test – Utsjånad

Breakthrough for MVW’s NorwaFloc® technology in the dredging industry


M Vest Water today announces a major technology breakthrough with the patented NorwaFloc® product.

MVW has, at one of the very largest European mechanical dredging sludge dewatering sites, in a full-scale qualification test, successfully treated dredging sludge for dewatering.


Dredging operations is a large industrial and municipal market segment in Europe. Rivers, harbours, and lakes are continuously dredged for sludge at the bottom bed. This large mechanical dredging sludge treatment site consumes far more flocculants to separate and dewater sludge than the entire Oil & Gas Industry on the Norwegian continental shelf. Currently used flocculants in sludge dewatering are synthetic. These are targeted and set to be reduced in general by legislation and operators due to their negative environmental impact.


NorwaFloc® is MVW’s patented combined bio-flocculant and coagulant in one product which in this treatment application was dosed into sludge from river dredging operations for subsequent separation from water and settling of the separated sediments followed by further mechanical press-dewatering of the sediments. The dewatered sediments are then transported and used for landfill and the clean water is returned to the river.

Successful full-scale test

MVW has in full-scale at the client’s site treated dredged sludge and water at a flow rate of 2 000 m3/h for settling of the sediments and discharge of water.

Left sample shows incumbent synthetic chemical, right shows NorwaFloc® which provides faster and more efficient sedimentation and a clearer water phase in comparison.

A subsequent 25% reduction in use of their currently used synthetic chemical was also achieved in the subsequent mechanical dewatering process of the sludge by additional use of NorwaFloc®. In addition to cleaner water discharge, the use of NorwaFloc® resulted in improved dryness in the sludge by several percent.

In total the qualification test duly verified cost saving potential and environmental gain for the client and the industry in general by obtaining large reduction in use of unwanted synthetic chemicals, cleaner water discharge and substantially more dry sludge for transport to land fill with 25% less synthetic flocculant polymers in this sludge.

Prior to entering commercial phase in the dredging market segment, a repeated full-scale verification under winter conditions is planned for in January 2023 with the client, where such also aim even further optimization.


An important milestone has now been achieved and the company is entering the large sludge dewatering markets in Europe with NorwaFloc® products attractive to clients’ needs for cost and process optimization and reduced environmental impact of discharges and disposal.

Watch the sludge dewatering phase in action below:

Dewatering of settled sludge in the belt filter press. Use of NorwaFloc® reduces consumption of synthetic polymers with 25% and gives several percentages better dewatering efficiency.

We’re revolutionizing water treatment.

Get in touch to explore how you can achieve cleaner and more cost-effective wastewater treatment without the use of synthetics.

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