TPI provides its latest research note on DeepVerge plc (AIM:DVRG)

DeepVerge has announced a 39% increase in production orders for Modern Water equipment in Q1 2022, taking its current order book to around £5m for a range of drinking water testing, contamination and SARS-CoV-2 detection equipment.

Expected to be delivered during the current financial year, this is the highest level of Q1 production orders ever recorded by Modern Water and spreads across its range of existing Microtox® (LX, FX and CTM) and Microtrace (trace metal) units, as well as the new pathogen detection units which will go into mass production in the next few months. With a fresh resurgence of COVID cases recently becoming evident in the west, particularly amongst older people, primarily due to increased socialising, waning immunity and a more transmissible version of the Omicron variant, international governments have already begun pushing a further round of booster vaccinations onto their populations while their water utilities anticipate a regulatory requirement for the semi-permanent nationwide installation of early-warning equipment capable of identifying the emergence of localised viral conditions. Recognising the proven capability of Microtox® PD, as an unrivalled, networked and AI-driven wastewater detection system that delivers exactly this, its move into mass production during H1 2022 ideally positions it to satisfy a prospective spike in demand in coming months.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to DeepVerge plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

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