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Revision as of 13:19, 9 February 2014

Modern Water plc
Company typePublic (LSE: MWG)
HeadquartersGuildford, United Kingdom
Key people
Neil McDougall, Executive Chairman
Simon Humphrey, CEO
Revenue£ 3,574 thousand (2012)[1]
£ (5,552) thousand (2012)[1]
£ (5,413) thousand (2012)[1]
Number of employees
50 - 100 (2012)[1]
Subsidiaries[1] Modern Water Services Ltd, Modern Water Monitoring Ltd, Modern Water Inc, Modern Water Technologies LLC, MW Monitoring Ltd, Surrey Aquatechnology Ltd
Websitewww.modernwater.com

Modern Water plc (LSE: MWG) was first listed on the AIM submarket of the London Stock Exchange on the 12 June 2007[2]. It owns, installs and operates advanced membrane technologies and develops and supplies systems for water monitoring.

In December 2011, the company completed[3] its acquisition of the water quality division of Strategic Diagnostics Inc. ("SDIX"), including its Microtox® toxicity testing technology.

Divisions

Membrane Process Division

Modern Water's containerised forward osmosis desalination plant at Al Khaluf, Oman

Modern Water has developed a number of Forward Osmosis (FO) membrane processes including: desalination, evaporative cooling systems, enhanced oil recovery and hydro osmotic power (HOP).

Modern Water has deployed Forward Osmosis as a platform technology to produce both desalinated water and evaporative cooling make-up water[4][5], with sites in Oman[6][7] and Gibraltar[8] . In fact, Modern Water is the only company in the world with a commercial[9] Forward Osmosis plant which is located in Al Najdah in Oman. Construction of the plant was completed[10] [11] in September 2012 and it is now being operated by Modern Water.

In March 2010, National Geographic[12] magazine cited forward osmosis as one of three technologies that promised to reduce the energy requirements of desalination.

Monitoring Division

The Monitoring division has developed some of the world’s most advanced systems for monitoring and improving water quality. It provides acute toxicity monitoring systems for online, portable and lab use, together with on-line and portable trace metal measurement technology.

Directors

Neil McDougall - Executive Chairman [1]

Neil McDougall, who qualified as a chartered accountant, is a co-founder of the Group. As Executive Chairman, his main focus is to deliver value to the Company’s shareholders by shaping Modern Water’s growth strategy. He is also responsible for maintaining Modern Water’s relationship with the City. Neil is Chairman of Delagua and Delagua Health. Formerly Neil was Chairman of Mid Kent Water Group plc and Chairman and CEO of Cascal NV and a director of Biwater plc. Neil has worked extensively with private equity investors and infrastructure funds and other financial institutions.

Simon Humphrey - Chief Executive Officer [1]

Simon Humphrey is a co-founder of the Company and has been CEO since Modern Water’s inception in December 2006. Simon oversees the day-to-day running of Modern Water, ensuring the Company and its investments progress successfully. He brings a host of water industry and capital investment experience to the role, and travels to Modern Water’s sites internationally to ensure their smooth operation.

Michael Gradon - Senior Independent Non-executive Director [1]

Michael has over 25 years’ experience in senior commercial, management and legal positions. He spent 20 years at P&O and was a main board director for eight years until its takeover in 2006 by Dubai Ports World. His roles included group commercial and legal director, Chairman of P&O’s property business and Chief Executive Officer of its largest infrastructure project. He is a Non-executive Director of Exclusive Hotels, of Grosvenor Limited and of Aercap Holdings NV and a member[13] of the committee of the All England Lawn Tennis Club and the Wimbledon Championships.

Mike Townend - Non-executive Director [1]

Mike is the Chief Investment Officer at IP Group plc. He joined the IP Group's board as head of Capital Markets in 2007 from Lehman Brothers where he was Managing Director of European Equities and Head of Equity Sales to Hedge Funds. He has 20 years’ experience in equity capital markets and investment process and was also a key member of the senior relationship management programme at Lehman Brothers. Prior to this, he was an Executive Director at Donaldson, Lufkin and Jenrette with responsibility primarily for building the bank’s business with hedge funds and alternatives. Mike has sourced, co-led or led numerous private and public transactions. He is the IP Group representative on the boards of Modern Water plc, Evocutis plc and Revolymer plc. He is also a Non-executive Director of Green Urban Transport Ltd.

Robert Clarke - Non-executive Director [1] [14]

Robert, who qualified as a chartered accountant, has worked in the private equity industry for more than 20 years, first at Electra Partners and subsequently as a founding partner of Motion Equity Partners. Since leaving Motion Equity Partners in 2008 he has focused on using his experience to assist a variety of businesses in their development.

References

  1. ^ a b c d e f g h i j Annual Report and Accounts 2012
  2. ^ IP Group plc - Modern Water plc first day dealings on AIM
  3. ^ Modern Water completes acquisition of Microtox
  4. ^ Nicoll P.G., Thompson N.A., Bedford M.R. (September 2011). "Manipulated Osmosis Applied To Evaporative Cooling Make-Up Water – Revolutionary Technology" (PDF). Proceedings of the IDA World Congress. Perth, Western Australia: International Desalination Association. {{cite conference}}: Unknown parameter |booktitle= ignored (|book-title= suggested) (help)CS1 maint: multiple names: authors list (link)
  5. ^ Peter Nicoll, Neil Thompson, Victoria Gray (February 2012). Forward Osmosis Applied to Evaporative Cooling Make-up Water (PDF). Cooling Technology Institute.{{cite conference}}: CS1 maint: multiple names: authors list (link)
  6. ^ "Modern Water taps demand in Middle East". The Independent. 23 Nov. 2009. {{cite news}}: Check date values in: |date= (help)
  7. ^ Frewin, Jonathan. "Gulf region seeks to shake desalination reliance". BBC.
  8. ^ Dawber, Alistair (21 July 2008). "Modern Water aims to clean up by osmosis". The Independent. Retrieved 14 June 2013.
  9. ^ First commercial forward osmosis desalination plant contract awarded
  10. ^ "Modern Water commissions Al Najdah FO plant". Membrane Technology. 2012 (10): 4. 2012. doi:10.1016/S0958-2118(12)70202-1.
  11. ^ Water Desalination Report, Volume 48, Issue 35]
  12. ^ "The Big Idea". National Geographic. 2010. Retrieved 14 June 2013. {{cite journal}}: Unknown parameter |month= ignored (help)
  13. ^ About The All England Lawn Tennis & Croquet Club
  14. ^ Board Changes - 17 June 2010





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