03 Jun AQUAPORIN A/S ANNUAL REPORT 2018
AQUAPORIN A/S ANNUAL REPORT 2018
Aquaporin A/S announced today its Annual Report for 2018. The full report can be found on the company’s website, www.aquaporin.com.
Aquaporin focus on solving water-related challenges by providing innovative water technologies to households and industries on a global scale. That is why the Sustainable Development Goals are the theme of our Annual Report 2018.
In 2018, Aquaporin accelerated it’s journey into becoming a fully integrated, customer focused company, including in-house large scale production and commercialization activities. We target high growth consumer and industrial segments of the global market for water purification. From the current bases in Europe, Asia and North America, we are expanding our global reach. Among other activities, the following commercial milestones were achieved in 2018:
- Two new strategic commercial partnerships signed and initiated, with global industrial leaders
- New Aquaporin Inside® Reverse Osmosis products for drinking water applications launched
- NSF International NSF/ANSI 58 and NSF/ANSI 61 product certifications for Aquaporin Inside® Reverse Osmosis products received.
- Novel and first ever industrial size Aquaporin Inside® Forward Osmosis product for industrial water treatment applications launched
- ISO 9001:2015 certification achieved for Aquaporin A/S and Aquaporin Asia Pte. Ltd.
- Multiple pilot installations have been carried out with both existing and future customers in industrial water treatment and in drinking water applications during 2018 and will pave the way for continued market penetration.
- Acquisition of full ownership of Aquaporin Asia Pte. Ltd. In Singapore and established direct sales office in the US, Aquaporin US.
Aquaporin received grants and future financing for continued Public Private Partnership activities in 2018 for the accelerated development and commercialization of Aquaporin Inside® membranes for desalination. From a technology development and production perspective, Aquaporin has invested heavily in the last years and reached the following technology and production milestones in 2018:
- Installed production capacity of industrial kg-scale fermentation and down-stream processing of the aquaporin proteins. This is the first ever industrial up-stream and down-stream production process installed for any membrane protein.
- Installed production capacity for production of Aquaporin Inside® formulation in ton-scale. This is the first ever industrial production process installed for any membrane protein formulation.
- Installed production capacity for up to 2 million m2 production of flat sheet Aquaporin Inside® Reverse osmosis membranes
- Manual production of Aquaporin Inside® Hollow Fiber Forward Osmosis modules installed and implemented
- Aquaporin Inside® Brackish Water Reverse Osmosis pilot membranes successfully developed in the European Commission’s Horizon 2020 Programme, Ambrosia
- Financing for development of Aquaporin Inside® SeaWater Reverse Osmosis membranes successfully secured from Singapore’s national water agency PUB. Programme initiated March 2019.
- Aquaporin Inside® technology development is financially supported by the Danish government’s Innovation Fund, Singapore’s national water agency PUB Environment and Water Industry Programme and the European Commission’s Research and Innovation Horizon 2020 Programme.
Proprietary knowledge related to all technology and production milestones has been secured by filing of 4 novel patent families during 2018. This strengthens and secures Aquaporin’s unique commercial position in the field of aquaporin-based products for the next 2 decades.
Key figures for 2018
- Revenue for the year 2018 amounted to DKK 7.9 million (2017: DKK 2.1 million) and loss for the period amounted to DKK 71.6 million (2017: DKK 64.4 million)
- Total equity was DKK 110.8 million at 31 December 2018 (2017: DKK 181.5 million)
- A capital increase of DKK 71.5 million was completed after the balance sheet date, in January 2019
We welcome our new shareholders, and we are pleased both new and existing shareholders supports the continued development of Aquaporin by the significant capital raise in January 2019. During 2019, we expect to boost our balance sheet further by way of a capital increase, loan facility, partnership, or a combination hereof.