Clean TeQ Water's Second Quarterly Results After Listing on ASX Show Accelerating Cash Receipts From Its Technology Portfolio
Clean TeQ Water Ltd (ASX: CNQ), one of the few global, listed pure-play water innovation companies was demerged from its parent company in July 2022 to focus on further commercialization and growth of its portfolio of new technologies.
MELBOURNE, Australia, February 1, 2022 (Newswire.com) - Clean TeQ Water's (ASX:CNQ) recently released its December 2021 Quarterly Report, which showed cash receipts of A$3.8 million, a 138% increase compared to the previous quarter. The increase reflects the progress CNQ has made in implementation of its large demonstration plants which form the final step towards commercialization.
CNQ's water technologies have been developed to address some of the most significant drawbacks of regular water treatment solutions including high energy costs, secondary pollution in the form of concentrated brines often generated by membranes, and an inability to cost effectively remove trace pollutants in effluents and water bodies.
In anticipation of increasing demand once the current demonstration projects under implementation have been delivered, CNQ also signed distribution agreements in two of CNQ's target markets: the Middle East and China. The Middle Eastern partner NESR is a NASDAQ listed oil field services company and market leader in the Middle East. The Chinese partner is MCC Environment, a subsidiary of MCC, which is a Chinese state-owned Fortune 500 company and leader in the Chinese steel sector.
CNQ further strengthened its product offering with the launch of a novel phosphate recycling technology while progressing towards commercialization of graphene membranes that have the potential to cut energy use in half and reduce or eliminate the production of waste brines.
The full December 2021 Quarterly Report can be viewed here.
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Source: Clean TeQ Water