Clean TeQ forms water treatment JV in China

Company News

by David Chau

Australian company, Clean TeQ Holdings Ltd (ASX:CLQ), has signed a deal with Jinzhong Hoyo Municipal Urban Investment & Construction Co Ltd (Hoyo) to form a joint venture in China.

The purpose of this 50/50 JV is to build and operate a water treatment plant in China’s Shanxi Province, making use of Clean TeQ’s Continuous Ionic Filtration technology. Both parties will make equity contributions of US$600,000 to the JV.

The Hoyo Group is a Chinese conglomerate active in a number of industries such as pipeline construction and waste water treatment plants.

Clean TeQ says the potential market for its technology is very large because China has a severe water scarcity problem, with almost a quarter of its population drinking contaminated water everyday.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.