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DE.MEM LIMITED — Capital/Financing Update 2022
Jun 21, 2022
64766_rns_2022-06-21_4151468a-e7c1-4ad4-b788-356edc51df8b.pdf
Capital/Financing Update
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ASX RELEASE | De.mem Limited (ASX:DEM)
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De.mem Signs $1.7m Service Contract
22 June 2022: Australian-Singaporean water and waste-water treatment company De.mem (ASX: DEM ) (“ De.mem ” or “ the Company ”) is pleased to report the signing of an important 3-year service contract with Rio Tinto.
The new 3-year service contract effectively is a long-term extension of an existing arrangement with Rio Tinto, one of the world’s leading mining companies, to manage the potable water and sewage treatment plants at the Amrun mine in Queensland, Australia. De.mem has been operating the water treatment facilities since 2016, based on short term, revolving contracts and purchase orders respectively. This new agreement gives certainty to the business for another 3 years, beginning from July 2022.
The 3-year agreement has a value of approx. $1.7 million in revenues. Additional revenue can be secured from the cross sell of additional equipment, specialty chemicals and other consumables.
Rio Tinto’s Amrun mine operates on Queensland’s Cape York Peninsula.
CEO Commentary
De.mem CEO Andreas Kroell said:
“This important 3-year service contract is a recognition of the quality of our work and the skills and dedication of our operations team. It underlines our well-established customer base in the mining and resources sector, and our strong, recurring service business.
The service segment is of high importance to De.mem as the recurring revenues deliver predictable and dependable revenue streams over longer periods. Furthermore, our service offering is highly attractive for our customer base, as they can benefit from our extensive expertise in operating water treatment plants most efficiently. It also allows us to promote other products into existing facilities, such as our specialty chemicals.”
This release was authorized by the Company’s Chief Executive Officer, Mr. Andreas Kroell.
-ENDS-
De.mem Limited (ASX:DEM) | Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 | [email protected] | +613 9692 7222 | ACN: 614 756 642 | demembranes.com
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For further information, please contact:
De.mem Limited Andreas Kroell CEO De.mem Limited [email protected]
De.mem Limited (ASX:DEM) is a decentralised water and wastewater treatment business that designs, builds, owns and operates turnkey water and wastewater treatment systems for some of the world’s largest companies in the mining, electronics, chemical, oil & gas, and food & beverage industries. Its systems also provide municipalities, residential developments and hotels/resorts across the Asia Pacific with a reliable supply of clean drinking water.
De.mem’s technology to treat water and wastewater is among the most advanced globally. The Company is headquartered in Australia and has international locations in Singapore, Germany and Vietnam. It is commercialising an array of innovative proprietary technologies from its research and development partner, Nanyang Technological University (NTU) in Singapore, a world leader in membrane and water research. Technologies uniquely offered by De.mem include a revolutionary low-pressure hollow fibre nanofiltration membrane that uses less electricity and is cheaper to operate than conventional systems, as well as a new Forward Osmosis membrane deployed in de-watering applications or the concentration of liquids.
To learn more, please visit: www.demembranes.com
Forward Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of De.mem Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
De.mem Limited (ASX:DEM) | Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 | [email protected] | +613 9692 7222 | ACN: 614 756 642 | demembranes.com