Montrose Environmental Group Selected by Sydney Water to Install PFAS Treatment System
Montrose Environmental Group (NYSE: MEG) has been selected to install its PFAS mobile treatment system at Sydney Water's Cascade Water Filtration Plant near Sydney, Australia.
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Montrose Environmental Group (NYSE: MEG) has been selected to install its PFAS mobile treatment system at Sydney Water's Cascade Water Filtration Plant near Sydney, Australia. The initiative comes after the detection of PFAS compounds (PFOS and PFHxS) in the plant's outlet in June 2024. The multi-million-dollar system will help reduce PFAS levels below the limits proposed in the draft Australian Drinking Water Guidelines, set to be finalized in April 2025.
As Australia's largest water utility, Sydney Water chose Montrose for its expertise in water treatment solutions and PFAS-impacted water treatment in the country. The installation represents a temporary solution while Sydney Water pursues long-term facility upgrades.
Positive
- Secured major contract with Australia's largest water utility
- Multi-million-dollar system installation strengthens Australian market presence
- Strategic positioning for organic growth in the Australian environmental services sector
- Immediate revenue generation through emergency response solution
Negative
- Temporary solution nature of the contract may limit long-term revenue potential
Details
News Market Reaction – MEG
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In June 2024, perfluorooctane sulfonate (PFOS) and PFHxS, two forms of PFAS, were detected in the outlet of the Cascade WFP. Sydney Water took prompt action to find a solution that would quickly begin removing PFAS compounds from drinking water.
As a leading provider of water treatment solutions in
Roch Cheroux, Managing Director of Sydney Water, commented: "We are committed to leading the way with new ideas to ensure the continued delivery of world-class drinking water to our communities. This initiative to install a rapid treatment system reflects our commitment to deliver safe and reliable water to all our customers."
"Montrose is proud to be working with Sydney Water, which has a shared commitment to providing communities with safe drinking water," said Vijay Manthripragada, president and chief executive officer of Montrose Environmental Group. "The installation of these multi-million-dollar systems underscores our commitment to the Australian market and achieves our organic growth goals in the region. By deepening our relationship with the broader Australian environmental services sector, we are confident in our prospects for 2025 and beyond."
Contacts
Investor Relations:
Adrianne Griffin
(949) 988-3383
ir@montrose-env.com
Media Relations:
Lauren Dowling
(214)-514-9809
pr@montrose-env.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/montrose-environmental-group-selected-by-sydney-water-to-install-pfas-treatment-system-302335757.html
SOURCE Montrose Environmental Group, Inc.
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