Clean TeQ Water Signs Agreement with US Based Upwell Water
5 September 2022
Clean TeQ Water is pleased to announce a partnership with Upwell, a leading tech-enabled water resource and infrastructure company, to invest in water treatment plants and sell water treatment services under a Build, Own, Operate and Transfer (‘BOOT’) delivery model.
Clean TeQ Water and Upwell are targeting the deployment of US$150 million over four years. Under the partnership, Clean TeQ Water will take full responsibility for the design, installation and operation of water treatment plants and assets, with Upwell providing the necessary capital. The detailed financial terms will be project specific and the result of negotiations with the end-user. Under the agreement, Upwell is provided exclusive rights of first refusal for BOO(T) projects that Clean TeQ Water pursues globally.
Upwell is a tech-enabled water resource and infrastructure company that owns operating and new-build water supply, treatment, and management assets globally. Upwell intends to deploy US$1 billion over the near term in its mission to ensure a sustainable water future. For further information, please visit www.water.llc.
”We are delighted to start working with Upwell to offer water treatment services as an alternative to selling integrated equipment. We believe this model will be especially suitable for new, large scale recycling plants where the ability to offer financing solutions through public-private partnerships is an area of significant growth. Clean TeQ Water looks forward to bringing some of its unique technologies to this growing market.Willem VriesendorpChief Executive Officer
The agreement with Upwell provides Clean TeQ Water the ability to offer a range of BOO(T) projects and services through this partnership. It will enhance the Company’s future growth by attracting customers that are capital constrained such as municipalities, and customers that lack the appetite to manage and own water treatment assets. Moreover, BOO(T) will provide Clean TeQ Water with a long-term revenue stream from ongoing operations, maintenance and consumables sales, as well as a share in the return on the capital invested in projects.