Concord Enviro Systems Acquires Convertible Preference Shares of Nala Membranes Inc. for US$ 1,999,310.04

Concord Enviro Systems Ltd has acquired Preferred Stock of NALA Membranes Inc., a corporation incorporated in the state of North Carolina, USA. The company operates in the advanced membrane and filtration technology space and is engaged in the development and manufacture of flat sheet membranes and membrane elements. The acquisition is in line with the Company’s strategic objectives and is expected to strengthen its business and technological capabilities. Nala Membranes Inc. has developed a one of its kind chlorine resistant membrane, which is expected to transform the wastewater recycle and ZLD process. The investment is proposed to support capital expenditure and commercialization of the technology of NALA Membranes Inc. that will help to scale up the business of the company. Further, the investment aligns with the listed entity’s focus on environmental and waste water treatment technologies. The proposed investment by the Company is US$ 1,999,310.04 for 8% and control of 528,918 shares.