Modern Water to float on AIM

Water technology developer Modern Water has announced its intention to float on AIM. The company is one of three subsidiaries of IP Group, which seeks to commercialise intellectual property (IP), and is the first of these to enter the public market.

Modern Water aims to develop technologies that address the global problems of fresh water shortages and the treatment of waste water: for example, technologies that convert sea water into fresh water. In addition to exploiting its IP, the company plans to acquire assets through which its technologies can be deployed.

UN forecasts suggest that by 2025, 5.5 billion people will live in areas classified as ‘water-stressed’. Neil McDougall, executive chairman of Modern Water, says: ‘The ability to provide an efficient and economical answer to [fresh water shortages] through the application of cost-effective desalination and fresh water substitution, would be a significant breakthrough for our generation.’

Founded in 2001, IP Group’s core business model is to invest in a portfolio of partner companies, which it assists in commercialising their IP. Its profits for last year were £40.1 million, of which £38.2 million represented net gains on the revaluation of its investments.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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