|
Metir PLC on Thursday saw its shares rise after reporting ‘major commercial advances’ for its PFAS detector unit. Shares in the York, England-based company focused on water testing services rose 21% to 0.81 pence on Thursday afternoon in London. PFAS, or per- and polyfluoroalkyl substances, are long-lasting chemicals which have been linked to harmful effects on human and animal health, according to the US Environmental Protection Agency. Metir aims to capitalise on the rise in awareness around PFAS, which has prompted tighter regulation on the quantity of PFAS in drinking water, soil, industrial discharges and waste streams, it said. Specifically, the company sees an opportunity in the market for on-site PFAS monitoring products, to replace off-site testing. It is working to commercialise its PFAS detection platform in the UK, US and Europe. The company has sold the first unit to Nasdaq-listed Veralto Corp, which it described as ‘a $20 billion market cap global leader in essential water and product quality solutions in the US’. ‘The system is expected to be deployed within Veralto’s water quality operations to evaluate performance in commercial applications for sale and broader market deployment to its global client base,’ Metir noted. It is also assessing commercial development opportunities with UK-based ProDecon Services, to field-test Metir’s PFAS platform, starting in the third quarter of 2026. The company has entered an accord with Spain’s Fidchem SL, ‘to co-develop AI machine learning functionality designed to simplify data output and interpretation’. This is expected to support the platform’s scalability, by reducing the skill level require to operate it. Additionally, Metir has entered an agreement with Swansea University which sees Metir gaining full propietary intellectual property ownership of the new PFAS-field testing method. In parallel, the company is evaluating PFAS testing applications in the semiconductor manufacturing sector, noting a new research centre at Swansea University focused on semiconductors. Metir Chief Executive Bob Moore commented on Thursday: ‘With regulatory scrutiny of PFAS contamination increasing globally, we believe Metir is well positioned to address a significant and expanding market opportunity across environmental remediation, water treatment and industrial process monitoring.’ Back in April, Metir appointed three new international distributors through its Modern Water subsidiary, in Saudi Arabia and Bahrain, in Malaysia, Indonesia and Brunei, and in Senegal. The company also said it was close to appointing distributors in the UAE and Egypt. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
