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The Directors of Emefcy Group Ltd (ASX:EMC) (OTCMKTS:EMFGF) present their report, together with the financial statements for the financial year ended 31 December 2016, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Emefcy Group Limited (referred to hereafter as the 'company' or 'parent entity'); Emefcy Limited based in Israel; and Emefcy Hong Kong Limited, a wholly owned, Hong Kong based subsidiary incorporated on 18 July 2016.

In 2016, the Company successfully transitioned from technology development to global commercialisation of its innovative and patented Membrane Aerated Biofilm Reactor ("MABR") wastewater treatment technology.

Regional sales capabilities have been established on four continents:
- Middle East (Israel);
- Americas (US Virgin Islands, and a demonstration facility with Stanford University's Codiga Resource Recovery Center);
- Africa (Ethiopia); and
- Asia (China).

Of all these markets, China offers the greatest near term growth opportunities. In February 2016, the Chinese Central Government released the 13th Five Year Plan. This Plan includes Central Government funding to increase the proportion of remote Chinese villages with wastewater treatment from 10% to 70%. The Company has entered into four strategic partnership agreements in China to date.

Principal Activities

The Group's principal activities in the course of the financial year were:

- The research, development and commercialisation of innovative wastewater treatment systems incorporating Membrane Aerated Biofilm Reactor ("MABR") based wastewater treatment technology for use in decentralised settings;

- Implementing the multi-faceted China strategy;

- Implementing the US strategy based on an initial Recycle as a Service ("RaaS") development phase and appointment of regional manufacturer representatives;

- Developing the larger scale SUBRE product ready for field testing; and

- Progressing the Electrogenic Bio Reactor ("EBR") technology for potential use in certain industrial waste applications.

Aside from the global commercialisation of the MABR based wastewater treatment technologies and the commencement of activities to establish global manufacturing facilities in China, there were no other significant changes in the nature of the Company's principal activities during the financial year.

To view the full report, please visit:
http://abnnewswire.net/lnk/YTWIT785


About Emefcy Group Ltd

Emefcy Group Ltd (ASX:EMC) (OTCMKTS:EMFGF) develops, manufactures and markets new, energy-efficient MABR based wastewater treatment solutions, aiming to change the economics of various markets and addressing the growing global demand for clean water in municipal and industrial plants.

With several global innovation awards and a strong scientific background, Emefcy is at the forefront of the next generation of MABR based wastewater treatment. Additional MABR based wastewater solutions out of Emefcy’s extensive R&D operations are expected to be announced in the coming year.

Emefcy Group Limited (ASX:EMC) is a public company traded on the Australian Stock Exchange.

     

Contact

USA
Richard Irving
Executive Chairman
E: richard@emefcygroup.com
T: +1-408-382-9790

Israel
Eytan Levy
Managing Director & CEO
E: eytan@emefcygroup.com
T: +972-4-6277555

Australia
Ross Kennedy
Company Secretary
E: rossk@emefcygroup.com
T: +61-409-524-442



Link: Preliminary Final Report



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