1 August 2018 – major shipment
The group has announced that it has shipped 16 near-waterless washing machines to the drought stricken area of Cape Province in South Africa. The group’s washing machines replace water with reusable and recyclable polymer technology resulting in an 80% reduction in water usage. Clearly with many areas in the world suffering from water scarcity and high water cost the demand for these machines could be significant as the technology is accepted. The group has a number of distribution partners in these areas and several more large shipments are expected to be made in the next two months. This will not only raise the profile of the group but should also help the company to attract further investors – we rate the shares a BUY.