De.mem Limited has successfully raised $2.2 million through a share placement at $0.09 per share, primarily supported by existing institutional investors and Board members.
The funds raised are intended for executing existing contracts, launching new business opportunities like the Graphene Oxide enhanced membrane, potential acquisitions, covering the costs of the placement, and general working capital.
The new Graphene Oxide enhanced membrane technology offers up to 40%
higher flux, enabling cost savings and a more compact cartridge size suitable for domestic or mobile water treatment systems.The global market for domestic water treatment systems is expected to grow at a CAGR of 10.5% from 2022 to 2030, with De.mem targeting both regulated and non-regulated opportunities.
De.mem has completed four successful acquisitions since 2019, significantly growing the revenues of these businesses, and aims to continue this strategy in a fragmented market.
CEO Andreas Kroell highlights the company's unique position with innovative membrane technology, expanded product range, and proven capability in operating and maintaining water treatment plants for industrial and domestic markets.
The company is headquartered in Australia with international locations in Singapore, Germany, and Vietnam, focusing on decentralized water and wastewater treatment for various industries and municipalities.
This announcement is a summary of the company approved ASX announcement on 16/2/2024 and is based on facts.