AquaVenture cuts loss, as top line grows
US-based water company AquaVenture has reported revenue growth of 14 per cent to $114 million in year ended 31 December 2016.
The bulk water business, Seven Seas Water, which operates desalination plants primarily in North America, the Caribbean, and South America, represented 48.9 per cent of revenue, and the rental water business, Quench, was 42.7 per cent of revenue; 8.4 per cent was generated by other activity.
The company’s operating loss reduced year-on-year by 59 per cent to $12 million in 2016.
In November 2016, AquaVenture acquired Aguas de Bayova (ADB) a supplier of seawater and desalinated water to Compania Minera Miski Mayo, the operator of Bayovar phosphate mine in Peru. The current term of the operating and maintenance agreement expires in 2037.