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New trading scheme aims to CERF the groundwater wave

A pilot scheme which will allow farmers in California’s Oxnard Plain to trade groundwater allocations via a centralised market has been awarded a $1.9 million grant by the USDA, which will enable a second phase to move ahead in October.

The Fox Canyon Groundwater Management Agency approved the pilot, which is being executed by the Center for Economic Research and...

Forterra falls further as credit metrics deteriorate

Nasdaq-listed water pipe manufacturer Forterra, Inc. suffered a further blow last Friday as Moody’s Investors Service changed the outlook on the company’s B1 junk credit rating to negative.

The move followed a drastic downturn in the company’s credit metrics after its first-quarter results showed zero organic top-line growth in its core businesses,...

Layne finally catches a break as Q1 losses narrow

Layne Christensen finally seems to have caught a break, as its shares jumped by more than 16% overnight on the back of Q1 results which saw the company more than halve its net loss on continuing operations to $3.4 million, albeit on reduced revenues of $111.5 million.

Despite reduced demand for agricultural drilling services in the western US as a result of winter...

HaloSource shares plunge as bankruptcy concerns grow

Shares in troubled AIM-listed water technology company HaloSource plunged by more than 50% earlier this week after the company revealed that its £1.9 million conditional fundraising would not take place as planned.

The company is now negotiating with existing and potential shareholders over its future as a going concern, given that its remaining cash balance will...

SEIA streamlining to benefit Chilean desal projects

Chile is aiming to reform its Environmental Impact Evaluation System (SEIA) in an effort to simplify and expedite the complex approvals process for large-scale infrastructure projects.

Of the 25 proposed reforms to the SEIA, one is to provide better guarantees with respect to EIA resolutions, in order to avoid them becoming politicised. As things stand, technical...

CD&R buys back HD Supply waterworks unit for $2.5bn

When private equity giant Clayton, Dubilier & Rice monetised its holding in HD Supply by floating it on Nasdaq back in 2013, it could hardly have expected to be buying back the company’s waterworks division as a stand-alone investment just four years later.

This week’s announcement that CD&R is putting up $2.5 billion to buy HD Supply’s...