4 August 2026

Metir plc

("Metir", the "Group" or the "Company")

Product Development and Commercial Update

Microtox® LX commercial momentum builds, MechLine-UK collaboration signed, QuickChek® SRB kit production restart and PFAS platform advances

Metir plc (AIM: MET), the global provider of fast-response, mobile and point-of-use water and environmental monitoring technologies, is pleased to provide an update on commercial and product development progress across its product portfolio as the Company continues to execute its strategy of growing and building multiple recurring revenue streams.

Highlights

·      Production of Microtox® LX instruments continues to increase, enabling supply from stock and trials with key new customers.

·      During 2026, 144 customer quotations were issued, including 83 quotations for Microtox® LX and FX instruments, with 19 Microtox® LX systems sold year-to-date.

·      Signed a Memorandum of Understanding with MechLine-UK Ltd to commence a plan to introduce Microtox® technologies across several UK water companies, including Thames Water, Affinity Water, Sutton & East Surrey Water and Portsmouth Water.

·      Significant progress towards restarting commercial production of QuickChek® SRB kits.

·      Customer quotations issued for more than 20,500 QuickChek® SRB kits representing potential sales revenues of approximately £1.23 million.

·      Successful real-world validation of Metir's proprietary PFAS detection platform with ProDecon.

·      FIDCHEM to commence using the PFAS analytical data to develop AI and machine-learning functionality.

·      Pathogen Detector Phase 2 to generate Cryptosporidium Optimer® progressing with Aptamer.

Growing Microtox® commercial pipeline

Production of Metir's market-leading Microtox® LX platform continues to increase, enabling the Company to sell units from stock and make units available for trials, with options to lease or purchase units.

During 2026, the Company has issued 144 customer quotations, comprising 53 Microtox® instruments, 30 Microtox® FX instruments and 61 reagent and consumable quotations. To date, 19 Microtox® LX systems have been sold during 2026, with distributors forecasting additional orders during the second half of the year.

The Board believes the continued expansion of the instrument base will support increasing high-margin recurring revenues through reagent sales, consumables and service contracts.

The Company is also planning an upgrade of its unique and world-leading Microtox® Continuous Toxic Monitoring (CTM) platform to work seamlessly with the latest data assimilation systems, SCADA.

UK Marketing Initiative and MechLine-UK Collaboration

Metir exports around 95% of its products and the UK market is greatly underdeveloped. Modern Water's Microtox® technology offers the ability to mass screen for water toxicity with results in minutes resulting in detection before contaminated potable and wastewater is released into networks and the environment. With growing UK concern about prevention of toxic water events Modern Water is increasing its marketing presence in the UK by forming alliances with major suppliers to the water industry. In line with this initiative Metir has signed a Memorandum of Understanding ("MoU") with MechLine-UK Ltd ("MechLine"), a UK specialist in water treatment, filtration and turnkey water treatment systems, to supply and install the Microtox® platform for testing and evaluation with several large UK water companies.

MechLine provides engineering, refurbishment and installation services to customers across the UK water sector including Thames Water, Affinity Water, Sutton & East Surrey Water and Portsmouth Water. Through this collaboration, the Company expects to demonstrate the capabilities of its Microtox® platform in supporting rapid water quality monitoring for UK utility customers.

QuickChek® SRB

As announced in the Company's Final Results on 7 July 2026, commercial demand for the QuickChek® Sulphate Reducing Bacteria ("SRB") kits, the world-leading and fastest detection method, exceeded manufacturing capacity due to limitations in scaling production of the key antibody component used within the kits. Production has been temporarily halted pending an upgrade to a newly sequenced antibody.

Metir is pleased to report that significant progress has now been made towards the successful development of a replacement antibody. The new antibody is expected to provide a more robust and scalable manufacturing process capable of supporting commercial production to meet demand whilst maintaining the performance characteristics of the existing product.

Run-in production is expected to restart with deliveries in October 2026, with planned increase to full commercial production in Q4. QuickChek® kits are in high demand, with multiple customer enquiries for more than 20,500 kits, representing potential revenues of approximately £1.23 million based on 2025 pricing (£60 per kit).

PFAS Platform Development

Metir has continued to make encouraging progress in the commercial development of its proprietary PFAS ("forever chemicals") detection platform.

Working alongside ProDecon Services, a leading UK PFAS remediation specialist, the Company has successfully completed a programme of evaluations at ProDecon's Nantwich premises using its proprietary miniaturised mass spectrometry platform under challenging environmental conditions designed to replicate real-world field applications significantly outside the specifications required for conventional laboratory testing, including ambient working temperatures up to 35°C.

The programme successfully demonstrated the platform's ability to generate high-quality analytical data in these demanding non-laboratory operating environments, providing further validation of the Company's field-deployable and on-site PFAS detection technology.

The analytical data generated from these evaluations is to be utilised by FIDCHEM as part of the Company's previously announced collaboration to develop AI and machine-learning functionality capable of simplifying PFAS data interpretation and broadening commercial deployment of the platform.

The Board believes the combination of highly sensitive field-deployable PFAS detection with AI-assisted analytics has the potential to provide a unique differentiated commercial offering capable of addressing the growing global demand for rapid environmental monitoring solutions.

Pathogen Detector

Development of Metir's rapid Pathogen Detector capable of detecting Cryptosporidium in water supplies within minutes continues to progress in collaboration with Aptamer Group plc. Following successful completion of the initial feasibility programme announced earlier this year, Phase 2 development remains on track and is focused on demonstrating proof-of-concept performance ahead of commercialisation. The Company continues to expect proof-of-concept data during the second half of 2026 with planned commercial roll-out in H1 2027. 

Bob Moore, Executive Chairman and Chief Executive Officer of Metir plc, commented:

"We continue to be a forward-looking business, making strong progress across our key product development programmes as we build a portfolio of environmental monitoring technologies to widen our revenue base and grow recurring revenue potential. We are also now pursuing strong inroads to the UK market with new alliances with UK water industry suppliers. The signing of our MoU with MechLine-UK also provides an exciting opportunity to introduce the capabilities of the Microtox® platform via a major operational supplier to a number of large UK water companies.

Our PFAS platform has successfully demonstrated its capabilities under demanding operating conditions, while our collaboration with FIDCHEM is adding AI and machine learning capability that we believe will further differentiate our commercial offering.

We have also made excellent progress towards restarting production of our QuickChek® SRB kits using a re-engineered antibody and we continue to expand Microtox® LX manufacturing to enable the Company to sell units from stock and conduct trials with new customers.

Alongside continued progress with our Pathogen Detector programme in collaboration with Aptamer Group, these developments provide us with confidence in the new commercial opportunities across our portfolio and we look forward to providing further updates as we continue to execute our growth strategy."

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About Metir

Metir plc is a leading global provider of several fast-response, mobile and point-of-use water and environmental monitoring technologies. Through its two established trading divisions, Modern Water and Microsaic Systems, a specialist in mobile PFAS monitoring, the Company develops and supplies innovative, easy-to-use solutions that deliver rapid, accurate water and liquids quality results, helping industries, utilities and regulators monitor safety and compliance in real time.

With a strong focus on data-driven insight and field-ready design, Metir's technology supports critical decision-making across sectors, including environmental monitoring, public health and industrial process management.

Headquartered in York, UK, Metir serves worldwide customers and is dedicated to advancing water testing standards through innovative, accessible solutions.

For more information, please visit: https://www.metirplc.com