NESR Acquires Stake In SALTTECH BV To Scale Up Circular Water Technology
National Energy Services Reunited Corp. (NASDAQ:NESR) has acquired a minority stake in SALTTECH BV, a Dutch thermal desalination technology provider. The cash-funded acquisition follows successful Dyvar® pilot projects in the MENA region. NESR holds an option to become Salttech's majority owner in future years. The partnership aims to scale up circular water technology in Saudi Arabia and other key markets, with plans to localize manufacturing, research, and training in the Kingdom. The Dyvar® technology has proven successful in various industries including mining and dairy, focusing on sustainable water treatment and mineral recovery solutions.
National Energy Services Reunited Corp. (NASDAQ:NESR) ha acquisito una partecipazione di minoranza in SALTTECH BV, un fornitore olandese di tecnologia di dissalazione termica. L'acquisizione finanziata in contante segue il successo dei progetti pilota Dyvar® nella regione MENA. NESR detiene un'opzione per diventare il proprietario di maggioranza di Salttech negli anni futuri. La partnership mira a scalare la tecnologia dell'acqua circolare in Arabia Saudita e in altri mercati chiave, con piani per localizzare la produzione, la ricerca e la formazione nel Regno. La tecnologia Dyvar® si è dimostrata efficace in vari settori, tra cui quello minerario e lattiero-caseario, concentrandosi su soluzioni sostenibili per il trattamento dell'acqua e il recupero di minerali.
National Energy Services Reunited Corp. (NASDAQ:NESR) ha adquirido una participación minoritaria en SALTTECH BV, un proveedor holandés de tecnología de desalinización térmica. La adquisición financiada en efectivo sigue a proyectos piloto exitosos de Dyvar® en la región MENA. NESR tiene la opción de convertirse en el propietario mayoritario de Salttech en los próximos años. La asociación tiene como objetivo escalar la tecnología de agua circular en Arabia Saudita y otros mercados clave, con planes para localizar la fabricación, la investigación y la formación en el Reino. La tecnología Dyvar® ha demostrado ser exitosa en varias industrias, incluidos la minería y los productos lácteos, centrándose en soluciones sostenibles para el tratamiento del agua y la recuperación de minerales.
National Energy Services Reunited Corp. (NASDAQ:NESR)는 네덜란드의 열탈염 기술 제공업체인 SALTTECH BV의 소수 지분을 인수했습니다. 현금으로 자금을 지원받은 이번 인수는 MENA 지역에서 성공적인 Dyvar® 파일럿 프로젝트에 이어 이루어졌습니다. NESR은 향후 Salttech의 대주주가 될 수 있는 옵션을 보유하고 있습니다. 이 파트너십은 사우디아라비아 및 기타 주요 시장에서 순환 수처리 기술을 확대하는 것을 목표로 하며, 왕국 내에서 제조, 연구 및 교육을 현지화할 계획입니다. Dyvar® 기술은 광업 및 유제품 산업을 포함한 여러 산업에서 성공을 거두었으며, 지속 가능한 수처리 및 미네랄 회수 솔루션에 중점을 두고 있습니다.
National Energy Services Reunited Corp. (NASDAQ:NESR) a acquis une participation minoritaire dans SALTTECH BV, un fournisseur néerlandais de technologie de désalinisation thermique. Cette acquisition financée par du liquide fait suite à des projets pilotes Dyvar® réussis dans la région MENA. NESR détient une option pour devenir le propriétaire majoritaire de Salttech dans les années à venir. Le partenariat vise à développer la technologie de l'eau circulaire en Arabie Saoudite et d'autres marchés clés, avec des projets de localisation de la fabrication, de la recherche et de la formation dans le Royaume. La technologie Dyvar® a prouvé son efficacité dans diverses industries, y compris l'exploitation minière et les produits laitiers, en se concentrant sur des solutions de traitement de l'eau durable et de récupération de minéraux.
National Energy Services Reunited Corp. (NASDAQ:NESR) hat eine Minderheitsbeteiligung an SALTTECH BV, einem niederländischen Anbieter von thermischer Entsalzungstechnologie, erworben. Die barfinanzierte Akquisition folgt auf erfolgreiche Dyvar®-Pilotprojekte in der MENA-Region. NESR hat die Option, in den kommenden Jahren Mehrheitsaktionär von Salttech zu werden. Die Partnerschaft hat zum Ziel, die zirkuläre Wassertechnologie in Saudi-Arabien und anderen wichtigen Märkten auszubauen und plant, die Produktion, Forschung und Ausbildung im Königreich zu lokalisieren. Die Dyvar®-Technologie hat sich in verschiedenen Branchen, einschließlich Bergbau und Molkerei, als erfolgreich erwiesen und konzentriert sich auf nachhaltige Wasseraufbereitungs- und Mineralrückgewinnungslösungen.
- Successful deployment of Dyvar® technology in key pilot projects
- Option to acquire majority stake in Salttech in future years
- Strategic expansion of water treatment solutions portfolio
- Planned localization of manufacturing and research in Saudi Arabia
- Proven technology with applications across multiple industries
- Minority stake acquisition limits immediate control over technology
- Cash expenditure for stake acquisition impacts financial resources
Insights
The strategic acquisition of a minority stake in SALTTECH BV represents a significant move in NESR's water technology portfolio expansion. The Dyvar® technology has already demonstrated success in pilot projects, particularly in water treatment for the mining and dairy industries. This validated technology acquisition positions NESR to address the critical water challenges in the MENA region, with potential for significant market penetration.
The deal structure, including the option for majority ownership, provides NESR with strategic flexibility while minimizing initial capital risk. The planned localization of manufacturing and R&D in Saudi Arabia aligns with regional economic development goals and could create additional revenue streams. The technology's proven track record in multiple industries suggests strong commercialization potential and diversification opportunities beyond the energy sector.
This acquisition significantly enhances NESR's environmental credentials and circular economy capabilities. The Dyvar® technology's focus on water treatment and mineral recovery addresses two critical sustainability challenges in the MENA region: water scarcity and resource recovery. The successful pilot projects with major customers validate the commercial viability of this sustainable solution.
The investment aligns with growing ESG mandates in the region and positions NESR to capitalize on increasing demand for sustainable water management solutions. The localization strategy, including training national talent, adds a strong social component to the environmental benefits. This could attract ESG-focused investors and potentially lead to premium valuations in the sector.
HOUSTON, TX / ACCESSWIRE / October 29, 2024 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced that it has acquired a minority stake in SALTTECH BV ("Salttech"), a Dutch provider of industry-leading thermal desalination technology known by its Dynamic Vapor Recovery ("Dyvar®") process.
Funded through cash, the acquisition follows the successful deployment of Dyvar® on several key pilot projects in the MENA region, including the recently announced Circular Water project deployed successfully with NESR's largest customer. The Dyvar® represents a core component of NESR's growing portfolio of fit-for-purpose water solutions within its NEDA segment, and the acquisition deepens the collaboration between NESR & Salttech in pursuing the sustainable scale-up of this novel, Circular Water concept in Saudi Arabia and other key countries. NESR will also have the sole option to acquire additional stake and become the majority owner of Salttech in subsequent years.
NESR Chairman & CEO Sherif Foda commented, "NESR and Salttech are already several years into the exploration of implementing Dyvar® as a circular water & mineral solution, and are the first to have validated this concept in the field with our largest customer. This acquisition not only signifies the technical acceptance of the Dyvar® in our industry, but also underscores NESR's commitment to bringing leading water technologies into the region to help solve the massive water challenges of MENA. In conjunction with optimizing and scaling up the Dyvar®, our vision with this investment is to domicile in Saudi the manufacturing, ongoing research, and training of national talent to truly localize the Dyvar® in the Kingdom and across the region. We are especially pleased to announce our deepening partnership concurrently with our participation at the Future Investment Initiative 8 (FII) forum, ongoing in Riyadh."
Reimond Olthof, Founder & CEO of SALTTECH BV commented, "Our partnership with NESR embodies a shared vision to address and tackle water challenges in the energy sector. NESR's commitment to sustainable innovation was key in our collaboration to develop a robust ESG solution for water and mineral recovery. The Dyvar® is proven as a reliable water treatment solution already in the mining industry and dairy industry, among others. With NESR as a shareholder, Salttech is poised to accelerate global Dyvar® deployment across these wide-ranging industries, boosting water stewardship in both the MENA region and beyond. NESR's support empowers us to further optimize the cost of sustainable resource recovery across many industry waste streams, from which we remain committed to delivering measurable environmental impact and creating new pathways to sustainability within and outside the oil & gas sector."
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate to, among other things, the Company's expectations related to its business performance, financial condition and results of operation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the SEC, including those factors discussed under the caption "Risk Factors" in such filings.
About NESR
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 employees, representing more than 60 nationalities in over 15 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.
For inquiries regarding NESR, please contact:
Blake Gendron
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com
SOURCE: National Energy Services Reunited Corp.
View the original press release on accesswire.com
FAQ
What stake did NESR acquire in SALTTECH BV in October 2024?
Where will NESR implement SALTTECH's Dyvar® technology?
What industries has SALTTECH's Dyvar® technology been proven in?
What are NESR's localization plans for Dyvar® technology in Saudi Arabia?
