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Citic Envirotech launches accelerator, announces new Memstar plant
Mainboard-listed Citic Envirotech Ltd (CEL) officially launched its wholly-owned subsidiary Singapore Envirotech Accelerator Pte Ltd on Tuesday at Singapore International Water Week 2018, the water solutions provider said in a press release.
Formed in collaboration with the Singapore Economic Development Board (EDB), the accelerator will drive innovation and commercialisation of environmental technologies. It will identify promising small and medium-sized enterprises and help them bring their innovations to market, with the possibility of listing on the Singapore Exchange in future.
Another Citic subsidiary, Memstar Pte Ltd, also announced the opening of its first membrane manufacturing plant outside Asia in Texas, USA.
The US$15 million facility will manufacture Memstar's latest product, the Memstar Advance Reverse Osmosis and Nano Filtration Membrane, which expands the group's capabilities to offer a complete range of membrane filtration products for water treatment.