DeepVerge PLC (LON:DVRG) said following its acquisition of Modern Water in November, it has signed contractual obligations for the production of water contamination equipment worth around £3.6mln to meet its obligations to its distributors and customers.
The environmental and life science technology firm said 80% of the equipment being produced has been earmarked for the Chinese market, where further assembly and localisation will be carried out, while the orders are expected to be delivered during the current financial year to December 31, 2021.
DeepVerge said instruments from across the range of Microtox and Microtrace are being manufactured with upgrades to the software allowing for optimised collection and organisation of data for real-time surveillance. The company also said that Screens have been upgraded with Chinese interfaces across the range of Modern Water’s (MW’s) benchtop lab equipment.
Meanwhile, the firm said that this month over 100 of the Microtox benchtop and mobile instruments are completing production for immediate delivery, while 40 Handheld trace metal detector PDVs have been manufactured to meet immediate obligations and a significant upgrade design is underway on a further 100 units.
DeepVerge said big-ticket online monitors from the Microtox CTM toxicity range and the Microtrace metal OVA range are being produced across two sites with 40 units scheduled for final assembly at its Shanghai facilities in March. Eight MW, Microtrace OVA, units are being retrofitted with the MicrotoxPD real-time optofluidic coronavirus (COVID-19) detection system for wastewater.
Additionally, the firm said an upgrade to the MW reagent production line in York, UK, is being completed with the installation of a HS-2 Freeze Drying Lyophilizer from Frozen in Time, which it said will streamline downstream processing, automate quality control and improve volume output of the recurring revenue consumables used by most of the MW range of equipment.
The company added that its partner Microsaic’s in-line bio-processing monitoring unit will fully automate the upstream quality control system and remove all manual testing requirements.
DeepVerge also said phase two of its manufacturing plan is being implemented to increase its manufacturing capacity in China in the second quarter of the year, with the aim to double the figure by year-end.
“Following our acquisition of MW, ongoing investment is focused on creating optimised, miniaturised and more cost effective instruments that collect data efficiently to be processed using our AI models to deliver more detailed results faster”, DeepVerge chief executive Gerard Brandon said in a statement.
“This enables water pollution to be detected, and when combined with external weather data, the prediction of pollution, and therefore pollution control is made possible. The software in each unit has undergone substantial upgrades to enhance the user experience of Microtox and Microtrace instruments. Automatic detection and identification of Modern Water’s reagents by our equipment ensures optimal monitoring as our tests are a regulated benchmark and, importantly for the Company, generating recurring income from these consumables”, he added.