akvola Technologies Triples Order Intake in 2019 and Enters New Markets with its MicroGas™ Product Line
This year akvola Technologies will triple order intake compared to 2018. The MicroGas™ bubble generator enters the huge market for gas transfer applications with its largest purchase order to date. Two new akvoFloat™ plants have been built in the refining and metalworking manufacturing industries.
Berlin, Germany – December 9th 2019 – akvola Technologies („Company“), a water technology company providing cost-effective and environment-friendly solutions for hard-to-treat industrial wastewater treatment, announces its best year to date for the sixth consecutive year. The Company is on its way to double revenue again, driven by the growth of both its product lines, MicroGas™ and akvoFloat™, throughout 2019.
MicroGas™, the Company’s innovative bubble generator launched Q4 2018, has quickly gained market share and its application fields have grown beyond flotation: “Our most recent purchase order, the largest to date for this product line, has been for 5 large units for an ozonation project in the food & beverage industry. We are seeing a big global market pull from gas transfer applications, such as oxygenation and ozonation, where the combination of high gas transfer efficiency, low energy consumption and simplicity of our bubble generator are a clear differentiation factor”, explained Matan Beery, the Company’s CEO.
With its MicroGas™ business line the Company is uniquely positioned to capture a large market share of big and fast-growing markets: in terms of gas transfer the global demand for wastewater diffused aerators alone has been €5,3 billion in 2019 and is growing at a CAGR of 6,4%. According to a market report by Isle Utilities, a leading market research company in the water technology sector, the hydroponics system market, where oxygenation equipment is a key asset, has reached €7,4 billion in 2019 and it is growing quickly at a CAGR of 12,1%. This market will have doubled in size by 2025. Additionally, the market for flotation plants is over €1,6 billion in size and growing at a CAGR of 6%.
To respond to the large amount of enquiries for large-scale (> 30 m3/h) flotation projects akvola Technologies will release its new MicroGas XL, a high gas flow rate model of its original bubble generator, in Q1 2020. The focus of the product development has been on further increasing the gas flow rate per unit and reducing the installation efforts – the new model features a submersible motor, which will allow an even quicker drop-in installation. This version will also make the MicroGas™ product line be very competitive for revamping existing DAF (Dissolved Air Flotation) plants, further increasing the Company’s SAM (Serviceable Available Market).
In parallel the Company is setting the standards in the fine bubble industry globally. Together with its partners Besino (China) and Watersystem (Poland) the Company has developed a standard to be published in January 2020: “DIN SPEC 54789 Fine Bubble Technology – Fine Bubble Induced Gas Flotation Device”. This will help users of fine bubble diffusors to design and operate MicroGas™-based systems, further accelerating their adoption in the market.
This year was also extremely successful for the akvoFloat™ product line: two new plants have been built in the refining and metalworking manufacturing industries, providing the company with two solid case studies in two different markets. With the plant at a leading Austrian metalworking firm the Company is demonstrating the value proposition of its new WaaS (Water-as-a-Service) business model, in which the customers just pay a fix fee per treated cubic meter, without the need for capital expenditures nor an own operator on-site. This model relies on our proprietary automation software, which is based on sophisticated edge computing and machine learning algorithms, and allows the customers to focus solely on their core business while minimizing wastewater management costs.
Overall, akvola Technologies will close its most successful year to date in 2019 and is now better positioned for even faster growth with its current product lines in 2020 and beyond.