- Clean TeQ Water (CNQ) partners with Upwell Water to invest in water treatment plants and sell water treatment services
- The companies will operate under a build, own, operate, and transfer (BOOT) delivery model and are aiming to deploy US$150 million (A$220.92 million) over four years
- Clean TeQ is taking responsibility for the design, installation and operation of water treatment plants and assets, with Upwell to provide the necessary capital
- CNQ believes the partnership will enhance its growth by attracting capital constrained customers and a long-term revenue stream
- Shares are trading 3.77 per cent higher today at 55 cents each at 1:03 pm AEST
Clean TeQ Water (CNQ) has partnered with Upwell Water to invest in water treatment plants and sell water treatment services.
The companies will operate under a build, own, operate, and transfer (BOOT) delivery model and are aiming to deploy US$150 million (A$220.92 million) over four years.
The partnership will see Clean TeQ take responsibility for the design, installation and operation of water treatment plants and assets, with Upwell to provide the necessary capital.
Upwell is a global tech-enabled water resource and infrastructure company, with plans to spend US$1 billion to execute its mission of a sustainable water future.
CNQ believes the partnership will enhance its growth by attracting capital constrained customers and a long-term revenue stream.
Clean TeQ CEO William Vriesendorp said he was excited to offer water treatment services as an alternative to selling integrated equipment.
“We believe this model will be especially suitable for new, large scale recycling plants where the ability to offer financing solutions through public-private partnerships is an area of significant growth,” he said.
Shares were trading 3.77 per cent higher today at 55 cents each at 1:03 pm AEST.