Shares digital

Technology group Modern Water (MWG:AIM) is to build its first live demonstration desalination plant in Gibraltar. It will work with local utilities group AquaGib to prove that it can turn sea water into fresh drinking water.

Chairman Neil McDougall said Modern Water has been approached by several companies interested in its technology that will use the Gibraltar facility to evaluate the system.

Modern Water invests in companies that have innovative ways to treat and recycle water. It plans to use their techniques, and its own technology, to fit out old desalination plants and make them more efficient.

Shares says: The news failed to revive the share price, which has fallen nearly 40% to 85p since floating last June.

by: Dan Coatsworth