Business
Operational Update
Operational Update.
About this update from Metir Plc
[{"type":"text","content":"\n\n31 March 2025\nMetir plc\n \n(\"Metir\" or the \"Company\")\n \nOperational Update\n \nMetir plc (AIM: MET), an international developer and provider of testing solutions for unique and underserved public health and environmental markets, is pleased to present an operational update.\n \nThe Company is working on the following operational and product development projects in the water and environmental testing markets, focused on generating early revenues and improvements in gross margins.\n \nQatar project update\n \nThe Company is pleased to confirm that full payment has been received from our installation partner Avanceon, for settlement of the first tranche invoice of €228k covering phase one Qatar project installation. The first tranche balance was paid after upgrade and consumable items for the Continuous Toxic Monitoring systems (CTMs) were delivered and are now being installed. The Company has 27 CTMs located at water pumping stations in central Doha and its suburbs that will give a rapid early warning of any toxins present in the water supply enabling fast shutdown if needed. This high-profile project is central to Kahramaa's (the public water utility in Qatar) policy of delivering pure and safe potable water to its customers. Over half of the installed CTMs are fully functioning and commissioning of all installed systems is expected during April, after which a further contracted second tranche payment of €228k is expected by the end of June 2025, signalling the completion of phase one of the project.\n \nThe Company is preparing for an expected phase two tender with Kahramaa for a significant number of additional CTMs to service a wider area of Doha. This is expected to be issued later this year after full commissioning of the existing units occurs and management believes it is in a strong position to secure this additional tender due to its unique and proprietary online testing capabilities of its CTMs.\n \nMicroTox® Reagents and Devices\n \nMicroTox® reagents are consumables that the Company manufactures itself in York, England (in both frozen powder and frozen liquid form). MicroTox® is the industry standard water testing reagent brand with MicroTox® LX devices installed in testing laboratories worldwide. The Company is pleased to report it has received an increase to 27...