Water company to float…

Investment opportunity

Modern Water Limited, a company founded by the technology commercialisation specialist IP Group plc is to float on London’s Alternative Investment Market.

The company was set up to establish to source, develop and apply technology solutions to help meet the growing demand for fresh water and treatment of waste water.

The United Nations forecasts that by 2025, 5.5 billion people will live in areas classified as water stressed. With 97.5 per cent of the world’s water in seas and oceans, this resource represents a major opportunity to provide optimal water solutions.

The company is taking a two-pronged approach to this, developing desalination technologies and providing routes to substitute fresh water with sea water or recycled water for certain non-potable uses. To date Modern Water has made investments in Surrey Aquatechnology Limited a spin-out from Surrey University, and Poseidon Water Limited and Cymtox Limited, both spin-outs from Cardiff University.

Neil McDougall, Executive Chairman, said, “The shortage of fresh water is perceived to be one of the major global socio-economic problems facing us in the early part of the 21st century. The ability to provide an efficient and economical answer to this, through the application of cost-effective desalination and fresh water substitution, would be a significant break-through for our generation.”