Clean Teq Holdings buys 50% stake in Associated Water

Australian water treatment and resource recovery technology company Clean Teq Holdings has purchased a 50% shareholding in Associated Water for $2m, reclaiming ownership in the joint venture.

Associated Water is a joint venture between Clean Teq Holdings and Tokyo-based gas supplier Nippon Gas. Clean Teq Holdings will now hold a 100% shareholding in the company.

Of the total fee, the company will pay $1m in the next nine months and a further $1m within 18 months.

The acquisition follows successful commercial demonstration of Clean Teq’s desalination technology at the WAMBO feedlot in Queensland, proving the viability of converting coal seam gas produced water to agricultural-grade water.

It enables Clean Teq to fully control marketing and licensing worldwide as the joint venture moves into its commercial phase.

Discussions are underway with a number of potential licensees that are well positioned to help Clean Teq penetrate coal seam gas markets globally and to build and manage large scale operations.