Gradiant Achieves Strong Growth in Cleantech Water Treatment During the Pandemic
Oct 05, 2021
Gradiant, an end-to-end cleantech water treatment solutions provider, announced that it has secured 26 new projects in 2021 year-to-date (YTD) across the Asia Pacific (APAC) region. Four of the projects will be delivered as design-build-own-operate-manage (DBOOM) contracts for long-term concession periods of up to 20 years. The business growth demonstrates increased demand for advanced water & wastewater treatment during the prolonged COVID-19 pandemic.
The new contracts in 2021 YTD are a mix of high-profile clients in the industrial, municipal, and government sectors, including multinational brand owners. Eighteen of the 26 new projects in 2021 YTD are with new clients that have selected Gradiant for the first time to solve their complex water challenges. New applications for Gradiant’s technologies this year have been in lithium mining, semiconductor fabrication, and high complexity industrial wastewater reuse.
“Our business has thrived this year at Gradiant, despite the challenging market dynamics brought on by the COVID-19 pandemic,” said Prakash Govindan, Co-Founder and COO of Gradiant.
“We have adapted to the evolving needs of the market by taking on new clients to penetrate new strategic COVID-resistant market segments in semiconductors, mining, and personal protective equipment (PPE). Facilities equipped with Gradiant’s SmartOps™ asset management and remote monitoring & control systems continue to produce mission-critical water during the COVID-related travel and access restrictions. Since the onset of the pandemic in early 2020 until today, Gradiant has been awarded 56 new projects, delivering a total contract value of over $514 million USD. We are proud of these accomplishments while managing through the pandemic – these results are only possible because of the commitment and passion of our team and our customers.”
Gradiant is committed to the Asia Pacific region. Almost all Gradiant’s growth in 2021 YTD has been in Asia Pacific, where the region’s rapid urbanization and population growth have been driving the demand for clean and sustainable technologies. Gradiant won new contracts to build facilities for the first time in Indonesia, Vietnam, and even Antarctica. Gradiant’s team has grown from 250 people at the end of 2020, to about 350 people in 2021 YTD – almost all headcount growth has been in the Asia Pacific region, mainly in their Singapore Regional HQ and R&D Center.
Research from MSCI has indicated growing attention to sustainability among investors, who have recognized that companies with strong environmental, social, and governance practices in Asia are outperforming their counterparts. These regional trends suggest growing need for brand owners to adopt sustainable business practices, placing greater importance for cleantech solutions providers, such as Gradiant, to support their operations.
“We are experiencing another year of robust growth at Gradiant,” said Luke Johnson, CFO of Gradiant. “Growth remains consistently strong across our strategic market segments in semiconductors, mining, and pharmaceuticals, and our new contract wins support the market’s sustained demand for cleantech solutions and DBOOM concession agreements. We have proven this year that our acquisitions of Sigma Water (Malaysia) and CRS Water (Australia) in 2020 created synergies to access new customers, applications, and geographies, when married to Gradiant’s clean water technologies and project development and financing capabilities.”
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