Modern Water plc (LSE: MWG) subsidiary Cymtox Ltd received its first revenues from sale of water toxicity monitoring units in China. The Cymtox CTM™ Continuous Toxicity Monitor uses bacteria to monitor water and wastewater supplies for early signs of unwanted toxins, including metals, solvents, petrochemical compounds, pesticides and herbicides.
The company said the initial sales represent a key milestone for Cymtox in China which has been identified as a core market for the product due to the country’s rapid urbanisation, rising industrial output and pressure to reduce pollution.
The Cymtox CTM™ was developed based on academic research at Cardiff University and part of Modern Water's portfolio since 2006, Modern Water Plc owns 76% of Cymtox Ltd. Cymtox appointed privately owned Belgian firm Applitek NV to manufacture and supply the Cymtox CTM™ units under a world-wide non-exclusive license agreement.
According to Modern Water, the applications for the Cymtox CTM™ are wide-ranging. It can be used to monitor public and industrial water supplies, wastewater discharges from all areas of industry, to control wastewater recycling processes, and in the screening of chemical and pharmaceutical products.
Additionally the company says that water supplies to high security buildings and sites at risk of deliberate contamination can be protected with this technology.
The CTM test is carried out on a real-time and continuous basis, the product operates automatically and is suitable for use in remote locations. According to Modern Water, the Cymtox CTM provides a convenient and cost effective solution.
Modern Water Executive Chairman, Neil McDougall commented the commercialisation of the clean water technology:
"Receipt of first commercial revenues marks a proud moment for both Cymtox and Modern Water. The Cymtox team, led by CEO Nicki Randles, has done a fantastic job in commercialising the technology and particularly in winning orders for China, the world's fastest-growing major economy.”