The Sydney Stock Exchange shares of Israeli company Emefy soared yesterday by 10.2%, after the company updated on its expansion strategy in China. Caesarea-based Emefcy develops technological waste treatment solutions. The company has set an aggressive goal: to become the market leader in China's rural area wastewater treatment by 2020 a market valued at over Australian $20 billion (equivalent of about $15 billion). China recently announced a five-year wastewater treatment plan, aimed at decreasing wastewater flow to rivers and increasing the current, 10%, treatment of wastewater to 70%.
Emefcy also published its schedule for attaining this goal, including the hiring of local staff, increasing product capacities, finding supply chain partners and more. Emefcy say that the implementation of the plan will help the company become established in China by the first quarter of 2017, enabling it to launch commercial activity in the second quarter.
Emefcy was founded in 2008 by CEO Eytan Levy and CTO Ronen Shechter. The company has developed a high-quality, low energy consumption wastewater treatment technology, compared with other technologies on the market.
Emefcy merged into an Australian stock exchange shell in December 2015, turning into a public company valued at Australian $35 million. Since the merger, Emefcy stocks have soared and it is currently traded at a value nearing Australian $200 million (about $150 million). In the future, Emefcy also plans on listing for trade on Wall Street.
Published by Globes [online], Israel business news - www.globes-online.com - on July 12, 2016
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