Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Modern Water Revenue Rises Three-Fold After Oman Plant Completed

Don't Miss Out —
Follow us on:

March 13 (Bloomberg) -- Modern Water Plc, which completed the world’s first commercial forward-osmosis desalination plant last year in Oman, said revenue tripled as the company competed with more reverse-osmosis water purifiers.

Modern Water, whose shares trade in London, supplies advanced systems for water monitoring and treatment, touting benefits of its membrane-based forward-osmosis technology that includes lower energy consumption for highly contaminated waters.

The company said today that revenue rose to 3.8 million pounds ($5.7 million) in 2012 from 1.2 million pounds a year earlier, it has no debt and its cash improved with 9.5 million pounds of net proceeds this year from a share placement. It said water-stressed countries in the Middle East and China are key markets for its technology.

Link to Company News:{MWG LN <Equity> CN <GO>}

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.