Singapore headquartered water and waste-water treatment specialist De.mem (ASX:DEM) has announced that its 100% owned subsidiaries Akwa-Worx Pty Ltd and Akwa Facility Maintenance Pty Ltd have been awarded four new customer contracts, totalling approximately A$300,000.
De.mem’s scope of work includes:
- Delivery of a containerised sludge dewatering system to a company which is part of the Glencore group for deployment at a mining site in Queensland
- Delivery of a pump station to Metro Mining for deployment at the Skardon River project in Queensland
- Delivery of a chemical dosing system to M&K Pipelines QLD Pty Ltd.
- A short-term operations and maintenance agreement with a luxury resort on Hayman Island, Queensland. Under the contract, Akwa Facility
- Maintenance will operate the water and sewage treatment plants in the resort for a period of three months
All four projects are scheduled to start immediately.
De.mem CEO Andreas Kroell said the new project awards was a significant result so shortly after completing the company’s acquisition of Akwa-Worx and Akwa Facility Maintenance.
- On 14 September 2017 De.mem (ASX:DEM) announced it expansion into Australia with the signing of a binding share purchase agreement to acquire 100% in the shares of Akwa-Worx Pty Ltd and Akwa Facility Maintenance Pty Ltd.
- De.mem acquired both companies from Lynalimack Pty Ltd for the purchase price which comprises of:
A$1.5 million in cash plus A$460,000 in De-mem shares; and a
deferred consideration of up to A$375,000 and A$375,000 in De-mem shares payable if prescribed revenue hurdles are satisfied as at 31 December 2017 and 31 December 2018.
“The orders confirm the strong business platform of the Akwa-Worx companies. We see a strong potential for expanding this business into other regions in Australia as well as internationally,” Mr Kroell said.
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De.mem Limited is a decentralised waste-water treatment business that designs, builds, owns and operates customised and high-quality industrial waste water treatment systems for its clients.
The company presents its product offering in two industry segments (i) the industrial segment where De.mem provides systems and solutions to customers from the electronics, chemicals, oil and gas and the food and beverage industries and (ii) the municipal and residential segment.
The company has licensed a number of proprietary technologies from its partner in research & development, Singapore’s Nanyang Technological University (NTU).
Akwa-Worx is a water and waste water treatment original equipment manufacturing (OEM) business, focusing on the design and construction of packaged systems for the Australasian market.