Water monitoring boosts revenue for Forward Osmosis pioneer Modern Water

Sponsored by

UK-headquartered Modern Water nearly tripled its sales in water monitoring equipment from 2011, as well as completing the world’s first commercial Forward Osmosis (FO) plant at Al Najdah in Oman, last year.

Full year results for the 12 months that ended in December 2012 released today revealed product sales in Modern Water’s monitoring division reached £3.4 million, compared to £1.2 million in 2011.

Modern Water said: “The SDIX Water Quality division acquisition was successfully integrated into Modern Water and has resulted in the development of three key areas for our monitoring division’s product portfolio; Toxicity, Trace Metals and Environment.”

The positive results tie in with two new premises containing laboratories opened during 2012, in Delaware, US and in Cambridge, UK. Furthermore, the company’s analysis equipment was used by utility Thames Water in the London 2012 Olympic Games to detect toxins in water and provide clean drinking water at the Olympic Park.

In the group’s membrane division, in September 2012 the company installed and commissioned what has been called the world’s first commercial Forward Osmosis plant at Al Najdah in Oman (see WWi story).

Today’s financial results showed that sales of desalination equipment returned £334,000 (up from £46,000 in 2011) and the sale of desalinated water returned £44,000, up from £2,000 the previous year.

During the second half of the year the group entered into a framework agreement with Hangzhou Development Center of Water Treatment Technology, Company Limited (Hangzhou Water) in the People’s Republic of China (see WWi story).

Other highlights from the financial results included total revenue increased to £3.8 million in 2012 from £1.2m in 2011 and gross profit margin of 38% (2011: 37%).

Neil McDougall, executive chairman of Modern Water, said: “We continue to invest in research; in 2012 we extended our patent portfolio and now have 99 granted patents. Demand continues to rise as there is a growing need for our technologies with water shortage becoming an increasing issue in both developing and developed countries. 

“We are committed to growing the company, and began 2013 strongly with the successful placing of 20 million new shares, raising £10 million before expenses. We are focusing on increasing the reach and extent of our marketing activities, and continuing to concentrate on all our key markets, providing leading technologies to customers and maximising shareholder value.”

###

- Modern Water executive chairman Neil McDougall will feature in WWi’s Leader Series, in the April-May edition. To sign up for your digital or print edition of the magazine, please click here.

Sponsored by

RELATED PRODUCTS

TODAY'S HEADLINES

World Water Week.14: Water, energy communities urged to address global challenges together

The 24th annual World Water Week has commenced in the city of Stockholm, Sweden, where a number of global leaders have convened to address the planet's most prominent water issues and related concerns of international development.

American Water awarded water, wastewater contract for NJ military facility

American Water Works Company recently announced that its Military Services Group has been awarded a contract for ownership, operation and maintenance of the water and the wastewater systems at Picatinny Arsenal, N.J.

NanoH2O changes name to LG NanoH2O in new acquisition

NanoH2O has completed the legal filing to officially change its operating name to "LG NanoH2O Inc."

Five-part Beijing sludge contract helps Cambi enter Chinese market

Beijing Drainage Construction Co. has awarded Norwegian company Cambi a contract to supply Thermal Hydrolysis Process (THP) technology for five large scale sludge treatment projects...

FOLLOW US ON SOCIAL MEDIA