First published in AIM Investor: the Water sector on AIM: Cleantech magazine, Volume 6 Issue 6 - December 2012
Although Wasabi Energy is best known for its Kalina Cycle technology that uses waste heat to generate power, the company also has a 79.2% stake in Aqua Guardian Group, which has developed the AquaArmour water management and conservation product. Aqua Guardian itself has a 22.7% stake in ASX-listed CleanTeq, which has water purification technology used in the mining sector.AquaArmour, a plastic-based covering for water reservoirs and other water storage areas, can reduce evaporation by up to 88%. It can be moved easily, requires minimal maintenance and also controls the spread of algae. The product has a life span of 20 years and can be recycled.
Initial adopters of AquaArmour have been water boards in Australia and AngloGold Ashanti Australia will be the first mining company to deploy the product, with the initial site being the Tropicana Gold Mine in Western Australia, where temperatures can reach 45 degrees Celsius. This mine is under construction and will go into production next year. Australia 364 mines last year spent a total of $1.5 billion on water. Aqua Guardian hopes to make an initial sale in South America, with a mine in Chile being the most likely site.
Water Sector Stock Performances 2012
|Company ||Mkt Cap (£m) ||Share Price end Dec 2011||Share Price (12 Dec 2012)||% change 2012 |
|Wasabi Energy Ltd||36.85||1.6||1.225||-23.4|