Sewage treatment start-up Aqwise Water Technologies Ltd. is strengthening its international presence. It has closed a number of deals in the past two months worth more than $1 million altogether.
Aqwise is also serving as a subcontractor of one of the world's largest engineering companies in infrastructure tenders in US. Aqwise is participating in a municipal tender in an eastern city for a sewage treatment facility with a capacity of tens of thousands of cubic meters of water a day. The project is one of the projects benefiting from the Obama administration's stimulus package.
"Among other things, the economic crisis led to accelerated growth of emerging markets, and the implementation of stimulus packages for infrastructure projects in many countries," said Aqwise CEO Elad Frenkel. "We recently obtained an important foothold in the world's largest markets - India and China."
In India, Aqwise is installing its technology at a sewage treatment plant with a 30,000 cubic meter a day capacity. In China, the company is its technology at a municipal sewage treatment plant with a 20,000 cubic meter a day capacity.
Frenkel added, "We have also signed cooperation agreements with leading facilities in Europe, Asia, and Latin America. We opened a new office in Mexico. Within a short period, we've seen a significant rise in our activity in the country."
IDB Holding Corp. Ltd. (TASE:IDBH) unit Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN) owns 34% of Aqwise.
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2009
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