Bergen, Norway, September 9, 2022 - M Vest Water (EURONEXT: MVW) today announces
a major technology breakthrough with the NorwaPol technology.
This is a patented process technology where our proprietary NorwaFloc®
bio-flocculant is dosed into wastewater for subsequent removal of pollution in
MVW's NorwaPol filter.
MVW, in collaboration with one of the major US-based global oil and gas
operators, has succeeded in an average treatment efficiency of 99.99% in removal
of oil from produced water in a pilot at a US onshore oilfield.
The operational performance and technical results have been proven superior
relative to nutshell filtration which today is the dominating technology in this
global multibillion-dollar Oil & Gas treatment market segment. NorwaPol is
thoroughly tested and will be implemented at full-scale in a large Norwegian Oil
& Gas process plant in Q4 2022. Our NorwaPol technology is now technically and
commercially proven.
An important milestone has now been achieved and the company is entering the
commercial phase in this Oil & Gas business segment with a disruptive
replacement for the globally leading nutshell filtration process.
For further information, please contact:
Stein Giljarhus, CEO
stein.giljarhus@mvestwater.com
+47 90 54 08 32
Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70
About M Vest Water AS:
M Vest Water is an environmental technology company which has developed unique
products and solutions to the water treatment industry, both Industrial as well
as the Municipal markets. The products are non-toxic, biodegradable and without
any harm to the environment. It obtains the highest degree of purification in a
cost-efficient arrangement.
M Vest Water is listed on Euronext Growth under the ticker MVW. For more
information, visit www.mvestwater.com.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.