Seven Seas Water Announces Amendment of Water Agreement with Limetree Bay Terminals
March 14 2019 - 8:00AM
Business Wire
Seven Seas Water, an operating segment of AquaVenture Holdings
Limited (NYSE:WAAS) (“AquaVenture” or the “Company”), a leader in
Water-as-a-Service™ (“WAAS™”) solutions, today announced that it
has amended its agreement with Limetree Bay Terminals in the U.S.
Virgin Islands to supply water under a five-year contract. Water
production will be provided up to a design capacity of 1.7 million
gallons per day using both existing and new equipment. The existing
contract, which was set to expire in December 2021 and provided
water up to a design capacity of 0.7 million gallons per day, will
be transitioned into the new contract upon the commissioning of the
plant expansion.
Olaf Krohg, CEO of Seven Seas Water, commented: “We are excited
to announce the execution of this agreement, which extends our
relationship with a valued customer and expands our water
production significantly to accommodate increasing demand. We
continue to look for these types of organic growth opportunities
that strengthen and extend our relationships with our existing
customers.”
About AquaVenture
AquaVenture is a multinational provider of WAAS™ solutions that
provide customers a reliable and cost-effective source of clean
drinking and process water primarily under long-term contracts that
minimize capital investment by the customer. AquaVenture is
composed of two operating platforms: Quench, a leading provider of
filtered water systems and related services with over 140,000 units
installed at institutional and commercial customer locations across
the U.S. and Canada; and Seven Seas Water, a multinational provider
of desalination and wastewater treatment solutions, providing more
than 8.5 billion gallons of potable, high purity industrial grade
and ultra-pure water per year to governmental, municipal,
industrial and hospitality customers.
About Seven Seas Water
Seven Seas Water offers WAAS™ solutions by providing outsourced
desalination, wastewater treatment and water reuse solutions for
governmental, municipal (including utility districts), industrial,
property developer and hospitality customers. Our desalination
solutions utilize seawater reverse osmosis and other purification
technologies to produce potable and high purity industrial process
water in high volumes for customers operating in regions with
limited access to potable water. Our wastewater treatment and water
reuse solutions include scalable modular treatment plants,
field-erected treatment plants and temporary bypass plants that are
used by our customers to treat and convert wastewater into effluent
or reclaimed water prior to being released back into the
environment.
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