Environmental intelligence company Envirosuite (ASX: EVS) is looking to extend the world’s sustainable consumption capabilities having acquired technology that can optimise wastewater treatment plants using artificial intelligence and machine learning.
The water modelling technology has been purchased for $1.35m from Aqueous Material Balance (AqMB) and enables users to run hypothetical changes to chemical and biological processes in a water treatment plant to optimise input, throughput and output.
As part of their due diligence process, Envirosuite trialled the AqMP software at the Yinghai recycled water treatment plant in Beijing where the trial identified a potential reduction of up to 35% electricity and chemical usage at the plant. This would represent a $500,000 saving at this single plant for Beijing Enterprises Water Group, which has an asset portfolio that includes 500 water treatment plants.
“Envirosuite aims to play an increasingly important role for water asset operators around the world who are looking to solve problems relating to water supply, quality and scarcity via digital transformation,” said Envirosuite CEO, Peter White.
“The acquisition of AqMB is a very significant step towards achieving our vision to unlock value beyond compliance and apply our augmented environmental modelling software to directly assist customers to optimise their working assets and reduce expensive and polluting chemical inputs.”
Embedded in Envirosuite’s cloud-based product suite, AqMP IP can also be applied to all water treatment plants including those in mining, industrial production, infrastructure sites.
Having identified more than 25,000 sites around the world that would benefit from AqMP’s technology, as well as their existing sustainability solutions, Envirosuite will now accelerate a new ‘smart water’ product solution that combines their existing SeweX algorithms with AqMP IP to optimise chemical and energy inputs with water collection and distribution infrastructure.
The Company is hoping to launch the new product within six months which would be a unique Smart Water-as-a-Service product.
In June, Envirosuite reported that they now expect to be EBITDA positive by the end of March 2021, three months earlier than the previous target.
EVS shares responded well to news of their AqMP strategic acquisition, opening at $0.145, a rise of 11.5% on their previous $0.13 close.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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