M VEST WATER Bergen, Norway ,February 26, 2024 - M Vest Water (EURONEXT: MVW) today announced that, by invitation from a major operating and oil-producing company, it has successfully conducted the first step qualification of NORWAFLOC® for Oil & Gas Produced Water Treatment at two sites in theMiddle East (ME). At first site, MVW replaced synthetic produced water treatment chemicals with completely natural and biodegradable NORWAFLOC® by using only half as much product volumes compared to the currently used synthetic product, achieving significantly better treatment results. The next planned step is full-scale qualification at the field, treating several hundred thousand m3/day at one of the largest produced water field flows in the world. At the second site, MVW also successfully conducted the first stage test with NORWAFLOC® for the same operator. This was at a large oil terminal. Upon invitation to this project, MVW now plans for piloting NORWAPOL® and NORWAFLOC® prior to offering the client a permanent solution comprising both equipment and chemical solution. "Today, MVW is actively involved in 6 projects for Produced Water Treatment in theMiddle East . The successful NORWAFLOC® test at one of the globally largest produced water fields is a milestone and a breakthrough for MVW in this region. It is noted that the ME operators highly value GREEN and sustainable solutions and support our vision to replace synthetic polymers with a better alternative. Aside of the US, the ME is the most attractive market for MVW due to the very large volumes of produced water, and subsequent sound water management is one of the critical parameters for optimized O&G production in the ME," comments MVW's CEOStein Giljarhus . For more information, please contact: Stein Giljarhus, CEO stein.giljarhus@mvestwater.com +47 90 54 08 32Morten Hilton Thomassen , CFO mht@mvestwater.com +47 92 25 85 70 AboutM Vest Water AS : M Vest Water is an environmental technology company which has developed unique products and solutions to the water treatment industry, both Industrial as well as the Municipal markets. The products are non-toxic, biodegradable and without any harm to the environment. It obtains the highest degree of purification in a cost-efficient arrangement. M Vest Water is listed on Euronext Growth under the ticker MVW. For more information, visit www.mvestwater.com. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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