DeepVerge remains on track to meet £4m revenue guidance
The scientific research and AI-as-a-Service company said amalgamated revenues which include Modern Water, acquired on 9 November, 2020, are expected to be well above £4m.
Water supply firm, Modern Water, develops a technology that monitors contaminated water and decontaminates wastewater, with the aim of making recycling of water ‘more efficient.’
Six countries across the world have legislated that Modern Water monitoring test systems are written into their environmental protection legislation while it is in its final trials for its real-time contamination product, Microtox PD, to identify COVID-19 hotspots and other pathogens.
Shares in DeepVerge have increased by almost 25% in the past two weeks to open 4.48% higher this morning at 28p following the announcement.
The group also noted this morning that Gerry Brandon, DeepVerge’s Chief Executive Officer, will be presenting at an investor webinar being hosted jointly by Turner Pope Investments (TPI) Ltd and Vox Markets. The event will be held later today, December 1, 2020 at 2pm.
"The presentation will reiterate 2020 guidance, provide an update on sales, marketing, supply chain management of products and services under development for a post-COVID world and I look forward to the opportunities that are ahead for the enlarged Group,” said Brandon.
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