M Vest Water: Another breakthrough for M Vest Water’s NORWAFLOC® technology

Bergen, Norway, August 12, 2024 - M Vest Water (EURONEXT: MVW) today announces
another major technology breakthrough with the NORWAFLOC® product.

Two years ago, on October 27, 2022, we announced the successful replacement of
25% synthetic polyacrylamide with our natural NORWAFLOC® products for the
dredging industry. Since then, regulatory changes in Germany have moved towards
zero acceptance of synthetic polymers in this industry. MVW has, in close
cooperation with leading dredging contractors as well as the largest municipal
dredging site in Europe, developed a natural NORWAFLOC® product that can
completely substitute synthetic (micro and nano) plastic flocculants.

MVW is proud to announce that in full-scale dredging operations, we have
successfully proven that our newly developed natural NORWAFLOC ® can completely
substitute synthetic chemicals, delivering better performance and competitive
cost for the client.

"Due to this major breakthrough, MVW is focusing strongly on increasing our
tender and sales activities in the Dredging, Mining, and Sand & Gravel markets,
as well as ramping up production capacity in Germany and securing access to raw
materials. With competitive production of our newly developed NORWAFLOC®, a game
changer in Municipal Wastewater and Sludge Dewatering will be introduced," says
Tor Olav Gabrielsen, Executive Chairman at MVW.

This breakthrough has been verified in full-scale during the summer with one of
the major German dredging contractors, as well as at the largest municipal
dredging site in Europe.

To our knowledge, MVW is the first in the world to produce a fully natural
substitute for synthetic polymers in sludge dewatering. Global R&D institutions
and major chemical providers have unsuccessfully sought this for decades.

This advancement in product development is not only applicable in dredging. It
enables the 100% substitution of synthetic chemicals in municipal water and
sludge treatment, where we previously achieved a 20-40% substitution. Moreover,
the same product is applicable to large markets such as Sand & Gravel washing
and Mining Industry. The Mining Industry alone spends between 12 and 14 billion
USD annually on chemicals, with 61% being synthetic flocculants that MVW now can
substitute.

Sludge from mining and dredging is an attractive and valuable material for
landscaping. However, the use of synthetic polymers has blocked this reuse, as
poorly biodegradable plastic-based polymers are not wanted in nature. As a
result, this sludge has been deposited at a high cost. MVW has now introduced a
solution that enables the valuable reuse of this waste sludge.

For further information, please contact:

Tor Olav Gabrielsen, Executive Chairman

Attached link

Taxonomy

• Dredging