Metir (AIM:MET) shares surged some 25.9% higher on Thursday, to 0.85p, after the company announced its first US commercial sale of a PFAS detector to Nasdaq-listed Veralto under a lease-to-purchase arrangement.
The Veralto deployment will be used within its water-quality operations for performance evaluation and potential wider roll-out, which would mark an early commercial milestone for the London-listed firm.
"The first commercial placement of our PFAS detection technology with Veralto in the US illustrates and provides further validation of the growing demand for rapid, field-deployable PFAS monitoring solutions," said CEO and chair Bob Moore.
Metir, in what is a broader product update, also noted that it has signed a memorandum of understanding with Spain-based FIDCHEM, to co-develop AI machine-learning functionality intended to simplify data output and reduce the specialist skill set required to operate its technology platform.
Meanwhile, it has agreed to acquire sole ownership of the PFAS measurement-method intellectual property developed in collaboration with Swansea University. And, Metir and UK decontamination specialist ProDecon Services are assessing a joint commercial field-testing programme. It expects the UK field-testing programme to start in Q3.
The company said it is also evaluating process-monitoring applications in semiconductor manufacturing, and noted there are roughly 1,500-1,600 wafer fabs worldwide plus several thousand assembly, packaging and testing sites.
It noted tightening regulation and rising demand for on-site PFAS testing, citing a projected global PFAS testing market of US$969.5m by 2030 and pointed to stricter EU water-quality rules that came into force on 11 May.
