Seven Seas Water Announces Amendment of Water Agreement with Limetree Bay Terminals

Date : 03/14/2019 @ 12:00PM
Source : Business Wire
Stock : AquaVenture Holdings Limited (WAAS)
Quote : 19.59  0.0 (0.00%) @ 1:00AM
AquaVenture share price Chart

Seven Seas Water Announces Amendment of Water Agreement with Limetree Bay Terminals

AquaVenture (NYSE:WAAS)
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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.

investors@aquaventure.comInvestors Hotline: 855-278-WAAS (9227)

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