Join our daily newsletter At The Bell to receive exclusive market insights
- Envirosuite (EVS) has announced it’ll soon acquire new water modelling and management software technology
- The company has agreed to buy 100 per cent of AqMB, and its technology, through a share purchase agreement worth $1.35 million
- Envirosuite says the acquisition will allow it to offer both environmental and economic solutions to businesses
- The deal is expected to be finalised between the two companies by the end of the month
- Shares in Envirosuite are trading up 11.5 per cent, at 14.5 cents per share
Environmental technology company Envirosuite (EVS) has announced it’ll acquire AqMB and its water modelling and management software technology.
Envirosuite has signed a share purchase agreement to acquire 100 per cent of AqMB for a total of $1.35 million.
The company will dip into its existing cash reserves to fund the acquisition, which it expects to be completed by the end of the month.
Envirosuite’s CEO, Peter White, said together the companies would break new ground.
“Envirosuite aims to play an increasingly important role for water asset operators around the world who are looking to solve problems relating to water supply, quality and scarcity via digital transformation,” Peter said.
“The acquisition of AqMB is a very significant step towards achieving our vision to unlock value beyond compliance and apply our augmented environmental modelling software to directly assist customers to optimise their working assets and reduce expensive and polluting chemical inputs,” he said.
AqMB’s technology works by essentially analysing chemical and biological processes in water treatment plants, including those used in the mining, industrial, infrastructure, wastewater and waste sectors.
The new technology from AqMB also allows companies to potentially lower their energy and operating costs, by optimising internal chemical and electricity usage.
A trial of the technology in a Beijing plant indicated it could reduce up to 35 pent of annual costs associated with chemical and electricity use.
Envirosuite said in order to get businesses on board with the new technology, it’ll need to reduce at least 25 per cent of plant operating costs.
The company will now focus on combining its technology with AqMB’s, with the new solution to potentially be rolled out in six months time.
Shares in Envirosuite rose 11.5 per cent following today’s announcement, to close at 14.5 cents per share.
