Bergen, Norway, August 12, 2024 – M Vest Water (EURONEXT: MVW) today announces another major technology breakthrough with the NORWAFLOC® product.
 
Two years ago, on October 27, 2022, we announced the successful replacement of 25% synthetic polyacrylamide with our natural NORWAFLOC® products for the dredging industry. Since then, regulatory changes in Germany have moved towards zero acceptance of synthetic polymers in this industry. MVW has, in close cooperation with leading dredging contractors as well as the largest municipal dredging site in Europe, developed a natural NORWAFLOC® product that can completely substitute synthetic (micro and nano) plastic flocculants.
 
MVW is proud to announce that in full-scale dredging operations, we have successfully proven that our newly developed natural NORWAFLOC ® can completely substitute synthetic chemicals, delivering better performance and competitive cost for the client. 
 
“Due to this major breakthrough, MVW is focusing strongly on increasing our tender and sales activities in the Dredging, Mining, and Sand & Gravel markets, as well as ramping up production capacity in Germany and securing access to raw materials. With competitive production of our newly developed NORWAFLOC®, a game changer in Municipal Wastewater and Sludge Dewatering will be introduced,” says Tor Olav Gabrielsen, Executive Chairman at MVW.

This breakthrough has been verified in full-scale during the summer with one of the major German dredging contractors, as well as at the largest municipal dredging site in Europe.
 
To our knowledge, MVW is the first in the world to produce a fully natural substitute for synthetic polymers in sludge dewatering. Global R&D institutions and major chemical providers have unsuccessfully sought this for decades.
 
This advancement in product development is not only applicable in dredging. It enables the 100% substitution of synthetic chemicals in municipal water and sludge treatment, where we previously achieved a 20-40% substitution. Moreover, the same product is applicable to large markets such as Sand & Gravel washing and Mining Industry. The Mining Industry alone spends between 12 and 14 billion USD annually on chemicals, with 61% being synthetic flocculants that MVW now can substitute.
 
Sludge from mining and dredging is an attractive and valuable material for landscaping. However, the use of synthetic polymers has blocked this reuse, as poorly biodegradable plastic-based polymers are not wanted in nature. As a result, this sludge has been deposited at a high cost. MVW has now introduced a solution that enables the valuable reuse of this waste sludge.
 

For further information, please contact:

Tor Olav Gabrielsen, Executive Chairman
 +47 924 08 607

 Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70

About M Vest Water AS:
M Vest Water is an environmental technology company which has developed unique products and solutions to the water treatment industry, both Industrial as well as the Municipal markets. The products are non-toxic, biodegradable and without any harm to the environment. It obtains the highest degree of purification in a cost-efficient arrangement.

M Vest Water is listed on Euronext Growth under the ticker MVW. For more information, visit www.mvestwater.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.