M Vest Water

What M Vest Water does

M Vest Water AS, headquartered in Bergen, Norway and listed on Euronext Growth Oslo (ticker: MVW), develops and sells nature-based water treatment chemicals and equipment for industrial customers. Its core technology platform comprises NORWAFLOC, a patented natural and biodegradable combined flocculant/coagulant using polysaccharides to capture dissolved components and colloids in the sub-1nm to 100nm range, and NORWAPOL, a polishing filtration process using activated filter media (AFM) capable of filtering particles below 1 nanometer with 99.99% oil-removal efficiency in produced water. Equipment offerings include flotation units and dosing systems delivered in partnership with Downstream Marine AS.

The company earns revenue from three streams: recurring chemical sales of NORWAFLOC (which grew 67% YoY in 2025), one-time equipment sales, and technical services and support. It sells through direct enterprise field sales for large accounts and through an extensive network of exclusive regional distributors, including PWT in North Germany, ISC in the Gulf states, EST in Saudi Arabia and Kuwait, NOS Chemicals in Norway, Dryden Aqua for AFM globally, and Nijhuis Saur Industries across 140+ countries. A German subsidiary (M Vest Water GmbH, established 2022) serves the EU market.

Customers span five verticals: aquaculture (salmon slaughterhouses and RAS facilities), oil and gas (produced water treatment), municipal (sludge dewatering), dredging (Hamburg METHA), and government/aviation (PFAS remediation). Aquaculture contributed approximately 90% of 2025 revenues, reflecting strong pull from tightening EU discharge regulations on blood water and a Ferric Chloride substitution opportunity. Q1 2026 revenue reached NOK 5.8 million, up 35% YoY, and management projects baseline annual revenues exceeding NOK 30 million in 2026 based on the current project pipeline. The company is led by Executive Chairman Tor Olav Gabrielsen, with Stein Giljarhus as CEO, Morten Hilton Thomassen as CFO/IR, Henrik Meland Madsen as COO, and Atle Mundheim as CTO.

Name

M Vest Water

Legal name

M Vest Water AS

Website

https://mvestwater.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Industrial Water Treatment

NAICS

Chemical Manufacturing (325)

SIC

Miscellaneous Chemical Products (2890)

akta.pro primary industry

Industrial Wastewater Treatment Chemicals (IMAEAJAC)

akta.pro secondary industries

Water Treatment & Process Specialty Chemicals (IMAEABAN), Municipal Wastewater & Sewage Treatment Chemicals (IMAEAJAB), Effluent Polishing & Filtration (MBR/UF/RO/GAC) (EUANADAL)

Keywords

• Industrial water treatment
• Wastewater treatment chemicals
• Biodegradable flocculants
• Produced water treatment
• Sludge dewatering solutions

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Chemical Sales (NORWAFLOC®): Recurring sales of proprietary water treatment chemicals for wastewater treatment applications. Revenue grew 67% YoY in 2025, with aquaculture representing nearly 90% of total revenues. Provides foundation for predictable recurring revenue.
2. Equipment Sales: One-time sales of water treatment equipment including flotation units, dosing systems, and NORWAPOL® filtration systems. Equipment sales to salmon slaughterhouses, oil & gas facilities, and municipal clients.
3. Technical Services and Support: Technical support, laboratory services, and advisory services for wastewater and sludge management. Frame agreements include extensive technical support components.

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels5 records

Core offering

M Vest Water develops and supplies nature-based, biodegradable water treatment chemicals and filtration processes for industrial wastewater applications. The company's core offerings include NORWAFLOC® (a combined flocculant/coagulant based on biodegradable polysaccharides), NORWAPOL® (a polishing filtration process using activated filter media), and AFM® (activated filter media). These are complemented by water treatment equipment such as flotation units and dosing systems, sold both directly and through a global network of distribution partners.

Product overview

M Vest Water offers a portfolio of nature-based water treatment products centered around three core offerings: NORWAFLOC® (a biodegradable flocculant/coagulant chemical), NORWAPOL® (a filtration polishing process using activated filter media), and AFM® (activated filter media from Dryden Aqua). These products work together as an integrated system where NORWAFLOC® is dosed into wastewater to capture pollutants, followed by NORWAPOL® filtration using AFM® for final polishing. The company also provides equipment solutions including flotation units and dosing systems. The portfolio serves multiple industries including Oil & Gas (produced water treatment), Aquaculture (salmon slaughterhouse wastewater), Municipal (sludge dewatering), and Dredging. Products are designed to be non-toxic, biodegradable, and environmentally friendly alternatives to synthetic chemicals.

Differentiator

Problem solved

Functional benefit

Brands

• NORWAFLOC®: Natural and biodegradable combined flocculant/coagulant that captures dissolved components and low molecular toxins and colloids in the range from below 1nm up to 100nm.
• NORWAPOL®
• AFM®

Products and services

• NORWAFLOC® Natural and biodegradable combined flocculant/coagulant that captures and flocculates dissolved components and low molecular toxins and colloids in the range from below 1 nm up to 100 nm. Used for treatment of produced water, aquaculture wastewater, municipal sludge, and dredging applications. Achieves oil-in-water levels of 0.2-0.4 mg/l in produced water treatment.
• NORWAPOL® Innovative polishing process with automatic backflushing using state-of-the-art activated filter media (AFM®), enabling filtering of particles below 1 nanometer in size. Used for final polishing of treated water in oil & gas, aquaculture, and municipal applications. Achieves 99.99% oil removal efficiency in produced water treatment.
• AFM® (Activated Filter Media) Activated filter media that functions as a direct replacement for sand, effectively multiplying the performance of sand filters. 50% less water required for backflush, up to 3x increased flowrate, 200x surface area of standard filter. Distributed under agreement with Dryden Aqua.
• Water Treatment Equipment Equipment for water treatment including flotation units, dosing systems, and sensor stations for process monitoring. Delivered in partnership with Downstream Marine AS for industrial clients including salmon slaughterhouses, oil & gas facilities, and municipal clients. Contract values typically NOK 3-6 million per delivery.

Quantifiable outcome

• Achieves oil-in-water levels of 0.2-0.4 mg/l in produced water treatment
• +7 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered regional, key and core.

• ISC (International)regionalChannel Partner/ Reseller/ Distributor · 7 February 2025Exclusive agent agreement for market penetration in Qatar, Bahrain, Oman and the Emirates for oil and gas applications.
• VEBIROregionalChannel Partner/ Reseller/ Distributor · 24 January 2025Commercial implementation partner for NORWAFLOC® in Germany, collaborating on market penetration.
• METHAkeyStrategic or Co-development Partner · 3 December 2024Purchase order for long-term pilot at Hamburg dredging facility. Follows successful completion of third of four NORWAFLOC® qualification stages.
• ESTregionalChannel Partner/ Reseller/ Distributor · 31 July 2024Exclusive agreement in Saudi Arabia and Kuwait for Middle East Oil & Gas produced water treatment market.
• Peter W. Thielemann GmbH (PWT)keyChannel Partner/ Reseller/ Distributor · 28 February 20245-year exclusive distribution agreement for NORWAFLOC® in North Germany Municipal Wastewater and Sludge segment. PWT is major supplier of water treatment chemicals and leading ferric coagulant supplier in Northern Germany.
• Aquateam COWIkeyImplementation/ SI/ Consulting Partner · 16 January 2024Two contracts awarded for pilot plant qualification programs serving as scientific basis for recommending permanent wastewater treatment plant designs.
• Downstream Marine AS (DSM)coreStrategic or Co-development Partner · 18 August 2023Strategic partnership offering total solution for blood water and sludge management to salmon slaughterhouses. MVW provides NORWAFLOC® chemicals while DSM supplies equipment (flotation units, dosing systems). Multiple contracts awarded including equipment deliveries to salmon slaughterhouses.
• Bioretur AScoreStrategic or Co-development Partner · 18 August 2023Partnership for sludge management solution. Bioretur dries sludge to 90% dry matter for reduced transportation and cost-effective disposal. Alliance provides integrated wastewater treatment and sludge management solution for salmon slaughterhouses.
• SAR ASkeyImplementation/ SI/ Consulting Partner · 28 June 20235-year frame agreement with annual extension for recurring NORWAFLOC® supply and technical support across SAR's seven facilities in Norway, including Mongstad biological water treatment plant serving 240,000 cubic meters annual capacity.
• Dryden AquakeyChannel Partner/ Reseller/ Distributor · 30 September 2021Business Distribution Agreement for AFM® (Activated Filter Media). MVW is sole distributor in Norway for all water treatment applications and global distributor when AFM® is integrated with NORWAPOL® process.
• Nijhuis Saur Industries BV (NSI)keyChannel Partner/ Reseller/ Distributor · 18 August 2021Letter of Intent for global distribution. NSI (Saur Group) has 4,000+ references in 140+ countries. NSI will manufacture MVW proprietary equipment and distribute NORWAFLOC® through global network.
• NOS ChemicalsregionalChannel Partner/ Reseller/ Distributor · 13 June 2021Letter of Intent for Norway distribution. NOSC is part of Norwegian Oilfield Supply Group, supplying chemicals to oil & gas industry and wastewater treatment market.

Scale indicators13 records

Recent moves5 records

Expansion highlights7 records

Broad incumbents

• Ecolab: Global leader in water, hygiene, and infection prevention solutions with a substantial water treatment chemicals and services business. Comparable in serving industrial water and wastewater customers, though much larger and broader in scope.
• Veolia Water Technologies: Global water and wastewater treatment solutions provider with chemicals, equipment, and services. Comparable on the bundled water treatment offering across oil & gas, municipal, and industrial customers, though at vastly greater scale.
• Kemira: Large Finnish specialty chemicals company with a significant water treatment chemicals business (coagulants, flocculants). Directly comparable as an incumbent supplier of water treatment chemistries to municipal and industrial customers, but operates at much greater scale and a broader portfolio.
• Solenis: Global specialty chemicals producer serving water-intensive industries including pulp & paper, oil & gas, and municipal water. Comparable as a direct competitor in industrial water treatment chemistries, with overlapping customer segments in produced water and process water treatment.
• Kurita Water Industries: Japanese water treatment company providing specialty chemicals, equipment, and services to industrial and municipal customers. Comparable on the chemicals-plus-equipment bundled model and on serving ultrapure/process water and wastewater applications.
• Nijhuis Saur Industries: Global water and waste-to-resource solutions provider with 4,000+ references in 140+ countries, and a distribution/contract manufacturing partner of M Vest Water. Comparable on the integrated chemicals-plus-equipment water treatment model and as a broader incumbent in municipal and industrial water.
• Suez Water Technologies & Solutions: International water services and technology company providing chemicals, equipment, and digital solutions for industrial and municipal water. Comparable across produced water, process water, and wastewater treatment applications as a broad incumbent competitor.

Emerging players

• Aquateam COWI: Norwegian water and environmental engineering consultancy that has awarded M Vest Water pilot qualification contracts. Comparable as a technical partner in wastewater pilot programs and as an emerging specialist in advanced water treatment solutions for industrial and municipal clients.

Direct peers

• Dryden Aqua: Manufacturer of AFM® activated filter media and a distribution partner of M Vest Water. Comparable as a provider of advanced filtration media used in water treatment; MVW both distributes AFM globally and competes in integrated filtration solutions.
• Sorbwater Technology AS: Norwegian water treatment technology company specializing in produced water and oil-pollution removal, and the party that filed a patent opposition against M Vest Water. Directly comparable in targeting oil-in-water separation with novel separation media for oil & gas and adjacent industrial markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/m-vest-water-as

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about M Vest Water