Modern Water monitoring systems deal worth £1.4m

RNS Number : 7775S

Deepverge PLC

18 July 2022

 

18 July 2022

DeepVerge PLC

("DeepVerge" or "the Company" or "the Group")

Microtox systems chosen to monitor water supply ahead of 2022 FIFA World Cup in Qatar

Largest single Modern Water monitoring systems deal worth £1.4 million

DeepVerge plc (AIM: DVRG) announces that its environmental division, Modern Water, has been chosen to supply 27 fully integrated Microtox^® solutions at network points to monitor water toxicity and pollution in the Qatar region ahead of the 2022 FIFA World Cup. This £1.4 million order is the first regional networked Microtox^® solution, the largest single order in Modern Water's 38 year history and is a direct result of a strategic move away from equipment only sales to supplying fully integrated regional monitoring solutions. This order is additional to the £3m of orders in Q2, 2022, for China and South Asia (see DeepVerge's RNS of 30 June 2022) and is expected to be shipped later this year.

Modern Water is providing the water monitoring equipment to Avanceon (PSX: AVN)is , which provides state-of-the-art automation solutions on three continents. Avanceon will install the monitoring equipment in Qatar.

The Microtox^® CTM is a site-based continuous toxicity monitor giving real-time feedback on the state of water health from the source. The upgraded AI-based Microtox^® CTM units include software with the ability to detect more than 2,700 dangerous pathogens and are a regulatory approved early warning system.

Gerard Brandon, Deepverge CEO commented:

"Modern Water Microtox^®has been the gold standard for testing water toxicity for thirty eight years. The AI-based smart networked monitoring solution will be shipped to Qatar to continue a Modern Water tradition of monitoring water supplies at some of the largest sports events in the world, adding the 2022 FIFA World Cup to the eight Olympic cities associated with Microtox^®since the Los Angeles, CA, Olympics in 1984."

DeepVerge plc	Gerard Brandon, CEO	[phone]
SPARK Advisory Partners Limited (Nominated Adviser)	Neil Baldwin/Andrew Emmott	[phone]
Turner Pope Investments (TPI) Limited (Broker)	Andy Thacker/James Pope	[phone]

Market Abuse Regulation (MAR) Disclosure

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

About DeepVerge plc (www.deepverge.com)

DeepVerge is an environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins; Utilising artificial intelligent data analytics to scientifically prove the impact of skincare product claims on skin

Avanceon Limited ( www.avanceon.qa )

Avanceon is a provider of industrial automation, process control and systems integration, as well as energy management solutions. The Company's segments are After Marketing Support (AMS), Core Business, Specialised Business, Engineering services, and Middle East and USA. The AMS segment is engaged in the provision of services as technical supports and service level agreements and related spares. The Core Business segment includes Application Based Solutions (ABS), Systems and Products. ABS sales include the supply of systems, power products, variable speed drives and variable frequency drives. Systems sales are embedded solutions of multiple original equipment manufacturers (OEM) equipment. Products segment includes sales of motors, analysers and other specialised products of OEMs. The Specialised Business segment includes Energy Management Systems and High End Solutions. It provides solutions to various industries, such as oil and gas, chemicals and pharmaceuticals.

 

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