London-based Modern Water is to invest in new purification technology, has received patents for two of its own technologies and has enlarged its senior management staff.
The company says it will invest $500,000, over three investment rounds, in US-based Stonybrook Water Purification (SWP). SWP has developed a new membrane that is said to be cost effective, strong, safe and can be used to filter water several times faster than modern membranes.
‘The stake we have taken in SWP is in line with our strategy to invest in valuable and complimentary water technology,’ said Neil McDougall, executive chairman of Modern Water.
Modern Water is also celebrating the securing of patents for technology developed by its Surrey Aqua Technology subsidiary. A European patent for Power Generation Method of the Osmotic Energy has been received, as well as individual country patents for Manipulated Osmosis process of the Solvent Recovery Method, including the sole right to use the technology in South Africa.
The company has also agreed to join the Quetor Group, giving Modern Water access to leading research organisations such as Queens University Belfast, Dublin City University and Stevens Institute of Technology. Other members of the Questor Group include BP and Shell.
In addition Modern Water has announced the appointment of senior management positions at company and group level, and say they have now largely completed their senior team. Appointments include Philip Walker as financial controller, Thomas Yeung as business development director and Nicki Randles as CEO of Cymtox, a subsidiary.