M Vest Water achievements in 2021
During the first 10 months of 2021, M Vest Water has made significant strides towards achieving our goal of becoming a major player in the global wastewater treatment market within 3-5 years. Our portfolio of environmentally friendly, cost-efficient and highly effective products and solutions – all built on our own patented technology – ideally positions us to help address the world’s increasing demand for sustainable and cleaner water resources.
One of our key achievements in 2021 was the listing of M Vest Water in May on Euronext Growth Oslo, a Multilateral Trading Facility (MFT) operated by Euronext, the leading pan-European exchange with global reach and local presence. This development followed a capital raise via private placement of 115 million Norwegian Kroner (MNOK 115), an important step in solidifying our financial foundation.
Of course, M Vest Water’s strength comes not only from our breakthrough solutions and financial position. It also stems from having an outstanding team and exceptional relationships with strong and dedicated owners, partners, and highly experienced personnel whose talents and visions align with ours.
Consequently, this year we have entered into agreements with three key players, an important part of our growth strategy aimed at strengthening our position both locally and globally. In July, we signed letters of intent (LOI) for Distribution Agreements with:
NOS Chemicals (NOSC), a part of Norwegian Oilfield Supply Group, with activities mainly in Norway. NOSC is a supplier of commodity and specialty chemicals to the on- and offshore oil and gas industry, as well as water treatment chemicals, flocculants (polymers) and coagulants to the industrial and municipal wastewater treatment market. The deliveries from M Vest Water will supplement NOSC’s portfolio with green water treatment products. During the LOI period, the parties agree to process two commercial projects on commercial market terms. This is a step forward in M Vest Water’s strategy of expanding activities in Norway.
Nijhuis Saur Industries (NSI), a company integrated in, and owned by Saur Group, which has over 4,000 references in more than 140 countries worldwide and 1.5 billion euros in annual turnover. NSI has broad experience and application know-how within a wide range of industries, designing the most appropriate solutions for wastewater treatment. During the LOI period, the parties agree to process a minimum of two commercial projects, and subsequently establish a Business Collaboration Agreement within December 2021. NSI will also manufacture and promote M Vest Water’s proprietary equipment and process technology in addition to distributing NorwaFloc® – our environmentally friendly, biodegradable flocculant – through its established global sales network. This is a major step forward in M Vest Water’s strategy of expanding activities globally.
Notably, we have also entered into a Business Distribution Agreement with Dryden Aqua for their AFM® (Activated Filter Media) product. This agreement designates M Vest Water as the sole distributor of AFM in Norway for all water treatment applications. Dryden Aqua is the leading manufacturer of glass filtration media, the preferred technology for filtration in our patented NorwaPol processes. AFM enables a filter unit concept that disruptively positions NorwaPol as a cost-efficient substitute for expensive activated carbon filtration, ozonation and membrane filtration. By entering into this agreement, M Vest Water is uniquely positioned to launch the cutting-edge NorwaPol process in the global multibillion filtration market in which Dryden is an established player.
We appreciate the confidence these three highly respected companies have placed in our technology, products, and team, and we look forward to growing these important relationships.
To learn more about our breakthrough green technology and products, visit our Products page.
M Vest Water (MWV) has had an exciting and eventful year. Our organization has grown from 4 to 14 highly qualified personnel in Norway and Europe in accordance with our business plan. These new employees cover sales and business developments as well as operational support and consists of technical project engineers and chemical specialists.
M Vest Water joined other successful disruptors at DNBs NXT Disruptors event in September. NXT Disruptors is an event that showcases small and agile start-ups that are disrupting existing markets, and in some cases, creating entirely new market demand.