Cemtrex’s Advanced Industrial Services Awarded Two Contracts Totaling $6.7 Million from Derry Township Municipal Authority
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Project Supports Innovative Biosolids Management Program to Generate Sustainable Fertilizer
Brooklyn, NY, Dec. 09, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, today announced it has been awarded two project contracts totaling $6.7 million through its Advanced Industrial Services (“AIS”) subsidiary. The contracts are for upgrades at the Clearwater Road Wastewater Treatment Facility in Derry Township, Pennsylvania, managed through the Derry Township Municipal Authority (DTMA).
The Clearwater Road Wastewater Treatment Facility, operational since 1977, has a treatment capacity of 5.02 million gallons per day. The AIS contracts encompass a general contract and HVAC contract for the addition of a new owner-supplied gasification-drying process and ancillary processes to support the new gasification-drying process. This process is integral to the facility’s innovative biosolids management program, which converts residual solids from wastewater into an exceptional quality granular fertilizer.
The project is expected to be completed by the calendar year end of 2025.
“Across the country, more than 16,000 wastewater treatment plants are approaching the end of their lifespans and in need of upgrades,” said Saagar Govil, Chairman and CEO of Cemtrex. “Furthermore, many municipalities are implementing biosolids programs that recycle nutrients from wastewater into a high-quality fertilizer, providing environmental benefits such as reduced water use, capturing carbon dioxide, improving farm soil health – all while producing additional revenue. Taken together, cities and municipalities are primed for capital investments that replace and innovate on their current wastewater facilities. With AIS’s expertise and capabilities, we believe it is well positioned to build on its pipeline of opportunities in the wastewater market and attract additional multi-million-dollar infrastructure projects that build revenue growth.”
“This $6.7 million contract also highlights the success of AIS’s strategic entry into the wastewater infrastructure market through its acquisition of Heisey Mechanical in 2023,” Govil continued. “This acquisition significantly broadened AIS’s capabilities and expanded the markets we serve. It’s a testament to the value of the acquisition and AIS’s ability to leverage those strengths to drive growth. As we move forward, we continue to explore new acquisition opportunities that will enable us to expand into additional markets and further accelerate our growth trajectory.”