Modern Water Share Placement Raises Funds for China, Middle East
Modern Water Plc, a British water- treatment company, said 10 million pounds ($15.6 million) was raised in a share placement, proceeds of which will help fund its forward-osmosis business in China and the Middle East.
The funds will enable the company to invest abroad, with a particular focus on China, Neil McDougall, executive chairman of Guildford-based Modern Water, said in today’s statement. “We intend to invest in further improvements in membrane efficiency for the membrane-processes division and to expand the monitoring division through acquisitions.”
The company has helped produce water in Gibraltar and at a pilot plant in Oman. It commissioned the Al Najdah facility there last year that’s the world’s first forward-osmosis plant, a process it champions as less energy-intensive than reverse- osmosis desalination applications that make salt water potable.
To contact the reporter on this story: Randall Hackley in London at firstname.lastname@example.org
To contact the editor responsible for this story: Randall Hackley at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.