- Wastewater treatment business De.mem (DEM) has inked a third contract with the world’s leading flavour and fragrance creator, Givaudan
- The new deal, known as a build, own, and operate contract, will see De.mem create a wastewater treatment facility at Givaudan’s Singaporean factory
- All up, De.mem expects to bank $800,000 in revenue from the new contract
- Speaking to today’s news, De.mem CEO Andreas Kroell said the new contract was a testament to the company’s long-standing relationship with global clients
- Despite the announcement, De.mem shares have fallen 2.38 per cent to trade for 20.5 cents per share
Wastewater treatment business De.mem (DEM) has inked a third contract with the world’s leading flavour and fragrance creator, Givaudan.
The new deal, known as a build, own, and operate contract, will see De.mem create a wastewater treatment facility at Givaudan’s Singaporean factory.
All up, De.mem expects to bank $800,000 in revenue from the new contract. Significantly, the company’s last contract with Givaudan — disclosed in November last year — was worth $1.7 million.
Speaking to today’s news, De.mem CEO Andreas Kroell said the new contract was a testament to the company’s long-standing relationship with global clients.
“Our BOO model is a unique offering within the water treatment industry, providing clients with convenience and simplicity, whilst generating recurring, long-term revenues for De.mem. It follows our strategy to build a ‘one-stop-shop’ portfolio of products, technologies and services appealing in particular to industrial water and wastewater treatment clients,” Andreas said.
“With a strong interest and a growing pipeline, we look forward to providing more BOO solutions in the near-term,” he said.
The deal is amplified by Givaudan’s status as a major global manufacturer. In 2019, the fragrance and flavour giant brought in CHF6.2 billion (roughly A$9.3 billion) in sales alone. While it’s headquartered in Switzerland, Givaudan operates in over 150 locations around the world and employees around 13,500 staff.
Despite the announcement, De.mem shares have fallen 2.38 per cent to trade for 20.5 cents per share at 2:25 pm AEST.