TPI provides its latest research note on Modern Water plc (MWG.L).

Modern Water has announced it has secured the sale of its largest single order for 20 Microtrace® PDV (‘PDV’) units to China, plus 7 related reagent consumables.

This latest milestone follows recent news of another important Chinese order won by the Company, this time for the sale of 10 industrial scale Microtox CTM units that are due to be shipped in the 3rd quarter.

Together these reflect the major opportunity that Modern Water now has to gain significant long-term and growing exposure to China’s giant and increasingly environmentally aware water health and safety markets.

Sichuan Province China orders Modern Water equipment. The total value of this new order from the Sichuan Department of Ecology and Environment, is CNY3.56 million (c.£410,000). Following a directive from this Chinese provincial government office the new PDV units, which measure trace metals in water, soil and food, will be used to improve the region’s emergency response to environmental emergencies and overcome its shortfall in provision of comprehensive analysis on water quality. Given that all Modern Water equipment requires consumables and now also has the option to be upgraded with AI-As service (as part of the Company’s collaboration and production agreement with Integumen plc (AIM: SKIN), offering predictive water contamination alerts based on accumulated historical data, this presents an important opportunity to build revenue and longer-term client interdependence.

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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 Modern Water 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.

Copyright © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.

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