Modern Water PLC (MWG) - Cooperation and Agency Agreement in Kuwait
RNS Number : 0080S
Modern Water PLC
26 November 2012
26 November 2012
Modern Water plc
("Modern Water" or "the Group")
COOPERATION AND AGENCY AGREEMENT IN KUWAIT
Modern Water plc (LSE: MWG), the owner of leading water technologies for the
production of fresh water and monitoring of water quality, signed a
Cooperation and Agency Agreement with Kazema Global Holding KSCH in Kuwait.
The agreement will result in Modern Water and Kazema working together in
Kuwait to promote Modern Water's forward osmosis technology for make-up water.
The make-up water will be used in evaporative cooling systems including
district cooling and industrial cooling applications as a practical
alternative to using potable water or treated sewage effluent. It is expected
that the size of the refrigeration industry in the Middle East will almost
quadruple by 2015, requiring approximately US$19.5 billion of investment.
Modern Water is already successfully operating the world's first commercial
forward osmosis desalination plant in Oman and now becomes the first company
in the world to offer the use of forward osmosis for make-up water production
in evaporative cooling systems.
Kazema is an established Kuwaiti conglomerate and has been active in the
industrial sector for many years. Kazema already operates in the
air-conditioning and refrigeration industries and is keen to expand into
evaporative cooling, both for district cooling and industrial cooling
District cooling is the process which sees chilled water produced at a central
district cooling plant and then distributed to buildings for use in air
conditioning. District cooling has recently gained popularity and is now
being used widely in business districts and institutional buildings.
Industrial cooling is central to a wide range of different industries and uses
chilled water to remove heat from components and industrial equipment.
The agreement was signed at Kazema's head office in Kuwait today by Mr Neil
McDougall, Executive Chairman of Modern Water and Fadhel Al Kazemi, CEO of
Neil McDougall commented:
"We are delighted to be working with Kazema and bringing our technologies to
new communities and industries. This agreement demonstrates our commitment to
offering world-leading solutions and shows the diverse ways in which the
forward osmosis technique can be applied."
Fadhel Al Kazemi, CEO of Kazema has been a key advocator for the recent demand
for district cooling systems in Kuwait and remarked:
"District cooling systems have been proven in neighbouring Gulf Cooperation
Council (GCC) countries, driven by the growing need to achieve energy savings
and reduce the environmental impact. We look forward to working with Modern
Water and using innovative, energy saving solutions to help us achieve this in
For further information
Modern Water plc +44 1483 696 000
Neil McDougall, Executive Chairman
Tessa Cumming-Bruce +44 20 7367 5245
Tom Gough +44 20 7367 5228
Notes to editors
Modern Water owns, installs and operates world-leading membrane technology and
develops and supplies advanced systems for water monitoring.Its shares trade
on the Alternative Investment Market of the London Stock Exchange.
Modern Water's patented Forward Osmosis (FO) technology has been proven to
significantly reduce costs, lower energy consumption and lessen environmental
impact in a variety of industries. With a sales presence in over 60 countries,
the Group's Monitoring Division includes the world's only real-time continuous
toxicity monitor and trace metal analysers for monitoring the quality of
Kazema Global Holding KSCH
Kazema owns and invests in approximately 22 companies ranging from the
provision of utilities to contracting, service and the distribution of
air-conditioning and refrigeration. The business was founded in 1976 and the
company's offices, warehouses, distribution centers, sales outlets are all
over Kuwait and currently expanding regionally in GCC, Arab and Middle East
This information is provided by RNS
The company news service from the London Stock Exchange
NRAPGGUWGUPPGPQ -0- Nov/26/2012 12:34 GMT
Press spacebar to pause and continue. Press esc to stop.