Operational update – November 2021
Scaling up the business
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.
MVW currently has 550 sqm of storage and production facilities at its disposal. The premises are also being refurbished to facilitate the production of up to 50.000 litres of Norwafloc per day. With this greatly expanded production capacity, we are able to meet the growing demand for deliveries to the market in Norway and parts of Europe over the next 2-3 years.
We now have a fully operational state-of-the-art laboratory, allowing us to analyse water samples from customers and further refine our development and quality control of Norwafloc.
An operational organisation in Germany, comprised of highly skilled and experienced personnel, is also being established, including operational facilities for testing of effluents and sludge from industrial, agricultural, and municipal wastewaters.
These days, testing is underway in 20 projects in various phases and market segments. Verification testing is usually carried out in 3 to 4 phases. Phase 1 will typically be testing of water samples, whilst phase 4 entails full-scale robustness testing. Each step requires careful analysis and thorough documentation, leading to a verification period of 4 to 6 months prior to commercialization, as this requires access and adaptation to existing water treatment plants at the customer site.
Our project portfolio consists of a wide variation of wastewaters from aquaculture, municipal, Oil & Gas and sludge. Detailed screening is necessary to deliver optimal solutions to clients. In general, we have promising test results from phase 1 testing. 4 projects in Norway and 8 projects in Europe and the Middle East have all been screened to continue into the second phase of verification testing in December and January.
Among ongoing projects, we will highlight the following:
- Qualification projects in O&G industry for Slop Water Treatment onshore in Norway, refinery wastewater and refinery sludge treatment with major end clients in Germany, Middle East and Asia. First steps in the qualification processes shows good results and takes us to the next level.
- Wastewater and sludge treatment from biogas plants, municipal, agriculture and food processing. MVW’s team has through extensive testing and verification in the different segments in Germany verified that Norwafloc is a competitive and interesting product for end-users in these markets. A number of specific full-scale pilots and trials are scheduled in all these segments based at the promising test results.
MWV has verified products in initial testing in different water and sludges within fish farming industry with promising results:
- Removal of pollutants in salmon slaughterhouse wastewater, enabling waste to be a valuable source for reuse.
- Removing pollutants harmful for fish in intake water for salmon smolt breeding plants (RAS), recondition and improve the quality of the RAS recirculation water.
- Provide efficient dewatering of the sludges from such RAS plants for valuable reuse.
- Treating the effluent water before discharge to meet legislated discharge criteria.
MVW continuously improves products and technology and is considering new patents where innovations are made. The Norwafloc product series has been improved both technically and cost-effectively in recent months.
The technological invention of Norwamix has been completed and been delivered in Bergen in November. Norwamix is the mobile unit for production, mixing, dosing and testing. The unit can be installed at customers plants for testing and optimising the best solution for any wastewater. The unit has by now a planned activity program of an O&G terminal, and then at a Municipal wastewater facility both in Norway over the next 6 months. Several other clients have shown great interest to utilize the Norwamix for optimization of water treatment improvement.
Outlook – 2022
In accordance with the company’s business plan, 2022 will also consist of further scale-up within the defined markets as well as the continued development of the company’s products and technology. The company’s investments will primarily be related to the establishment of facilities and local organizations in targeted markets. These investments are not capital intensive and are planned to be covered by the company’s existing capital base.
The reception to our range of innovative products has been highly positive and we grow more and more confident in our technology by the day as we complete verification tests and prove the effectiveness of our solutions. With our new facilities and personnel, we now have the capability to produce and test at scale to better meet coming demand in new and existing markets. The focus further is to continue implementing the company’s growth plans and to secure delivery of M Vest Waters products and services.
M Vest Water released its Q1 results for 2022 on May 2nd. The presentation and Q1 Report can be downloaded here.
M Vest Water is pleased to invite investors, analysts and other stakeholders to the presentation of our Q1 2022 results on Tuesday, 3 May 2022 at 10:00 CET.