Growth was driven by geographic expansion and strategic advancements in semiconductors and microelectronics, and an expanded range of offerings across other industrial markets
BOSTON--BUSINESS WIRE--
Gradiant, a global solutions provider for advanced water and wastewater treatment, today announced it closed the first half of 2024 with over $500 million in new orders, continuing the momentum from a record first quarter order book of $337 million. This performance marks the fifth year of doubling annual sales and the impact of the company's strategic expansion into the United States and critical high-tech manufacturing sectors worldwide.
Gradiant continued to deliver for blue-chip leaders in the world's essential industries for whom they have become the go-to water solutions partner, signing new agreements to design, build and operate flagship water treatment and wastewater recycling plants in the United States, Europe, Middle East, Africa, and Asia regions. A significant portion of the new orders are for high profile projects in the semiconductor and microelectronics industry in the United States and Asia, and for returning customers who are increasingly adopting more of Gradiant's solutions based on positive experiences with the technologies and team. New orders in the first half of 2024 are with clients including Micron, STMicroelectronics, AB InBev, Coca-Cola, Nestle, Rio Tinto, Petronas, ADNOC, and Nama Water.
These agreements highlight the increasing demand from critical high-tech manufacturing, food and beverage, and heavy industrial sectors for solutions that reduce water consumption, reclaim valuable resources, and renew wastewater for return to nature. These deals showcase Gradiant's capability to support sustainable global development across various environmental, economic, and regulatory landscapes.
Industry uses up to 50% of the world's water. Gradiant offers a complete technology stack engineered to handle complex water and wastewater challenges for the world's essential industries, including food and beverage, pharmaceuticals, mining, renewables, and power. Gradiant solutions ensure that industrial partners achieve operational and sustainability efficiency goals at the lowest CAPEX and OPEX costs.
The succession of wins reflects Gradiant's increasing prominence resulting from the addition of its CURE Chemicals, a full suite of customized chemical solutions for water and wastewater operations recently announced. Recognizing the continued momentum, the prestigious GWI Global Water Summit honored Gradiant in May with the "Water Company of the Year (Distinction)" and "Water Technology Idol'' awards, acknowledging their leadership performance in technology innovation.
"Our continued sales growth, bolstered by new high-tech industrial partnerships, is a testament to our solution-oriented approach and technological innovation that meets the exacting performance and sustainability demands of our clients," said Prakash Govindan, Gradiant COO. "We are delivering on our commitment to help industry and communities thrive side-by-side to ensure water for generations to come."
Gradiant significantly enhanced its value proposition in Q2 with groundbreaking technological announcements in PFAS treatment and lithium production.
In May, Gradiant introduced ForeverGone, the industry's first complete all-in-one solution to remove and permanently destroy PFAS, the harmful forever chemical. ForeverGone produces water that meets or exceeds the latest US EPA drinking water standards for PFAS. The fully integrated solution efficiently, sustainably, and at the lowest total cost achieves comprehensive PFAS removal.
Subsequently, in June, Gradiant announced alkaLi, a standalone spin-out company dedicated to accelerating the scaling of battery-grade lithium production. alkaLi is powered by EC2, a Gradiant-Grade Innovation that is the industry's first and only all-in-one, fully integrated solution, engineered to EXTRACT, CONCENTRATE, and CONVERT battery-grade lithium. alkaLi offers the world's most efficient solution to produce lithium and meet the rapidly growing trends in electrification-led by the demand for EVs, energy storage, and portable electronic devices.
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