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Consolidated Water (the “Company”) was incorporated as Cayman Water in 1973. It benefited from, and indeed the availability of good drinking water assisted in promoting, the explosive growth in tourism-related development in the Cayman Islands. The Company operates in the Cayman Islands as Cayman Water Company Limited and Ocean Conversion (Cayman) Limited which, together, operate six plants to produce all the piped drinking water on Grand Cayman. In July 2007 the Company was awarded a contract to build and operate a seventh plant on Grand Cayman with a production capacity of 2.4 million gallons per day which will provide water to the northeastern areas of the island. In 1979, the Company was granted an exclusive 20-year franchise to supply the famed Seven Mile Beach tourist area. This franchise was replaced, in 1990, with a new 20-year exclusive franchise for both Seven Mile Beach and the residential district of West Bay.

The 1990 franchise introduced a new business model which is now used throughout the Company's operations. The base selling price of water is fixed in the franchise which provides for monthly billing adjustments for changes in the cost of fuel and annual billing adjustments for changes in inflation. The Company has a right of first refusal on the renewal of the franchise.

The Company installed its first Sea Water Reverse Osmosis (SWRO) plant in 1989 and, therefore, has more than 18 years of design insight and operational experience with this technology. SWRO is used in all the Group's operations.

In July 2000, Consolidated Water acquired Belize Water Limited which supplies up to 510,000 US gallons of water per day to the operator of the distribution system on Ambergris Caye, Belize, Central America. In 2003, a new 23-year exclusive supply agreement was signed with the Belize distributor. Consolidated Water moved into the Bahamian market in July of 2001 by supplying and operating a plant under a ten-year agreement to produce up to 115,000 US gallons per day for the Bimini Sands marina and resort development in South Bimini. The Company also supplies water to the Water & Sewerage Corporation of the Bahamas from time to time when its regular supply is unavailable on South Bimini. In February 2003, through the acquisition of five companies from multiple investors, Consolidated Water commenced operations in Barbados, obtained affiliate operations in the British Virgin Islands and expanded its operations in the Cayman Islands and the Bahamas.

In Barbados, the Company operated, through June 2007, a plant that provides up to 1.3 million US gallons of irrigation water per day for the three golf courses of the prestigious Sandy Lane Resort.

The Company owns 50% of the voting shares and has Engineering and Management Services Agreements with its affiliate Ocean Conversion (BVI) Ltd. that operates plants on Tortola and Jost van Dyke and supplies water to the government of the British Virgin Islands for distribution. Design and construction of a 40% capacity increase of the Tortola plant was completed in November 2003 and the plant is now capable of supplying up to 1.7 million US gallons per day. A second plant, to supply 700,000 US gallons per day, primarily, to the Eastern end of Tortola was completed in 2006 and OC-BVI hopes to begin selling water from this plant in 2008.

Through private transactions and a tender offer, Consolidated Water acquired approximately 91% of the issued shares of Consolidated Water (Bahamas) Ltd. that produces and supplies water to the Water & Sewerage Corporation of the Government of the Bahamas to distribute to Nassau and the remainder of New Providence Island. In 2006, the Company completed construction of a new plant in the Bahamas under a 20-year contract and now supplies up to 10 million U.S. gallons of water per day in the Bahamas.

In 2007, the Company began expansion of two plants on Grand Cayman that will increase its production capacity on the island by a further 1.2 million US gallons per day, and was awarded a contract to build and operate a plant for the Water Authority-Cayman which will have a production capacity of 2.4 million US gallons per day.

The Company formed a Bermudan affiliate, Consolidated Water (Bermuda) Limited, with two other shareholders in 2006 and in early 2007 was awarded a contract by the Government of Bermuda to construct and operate a 600,000 US gallon per day seawater desalination plant on the north coast of Bermuda at Tynes Bay. The plant is currently under construction with an expected completion date of June 2008. The Bermudan affiliate is required to operate and maintain the plant for a period of one year after it is commissioned.

As a result of the 2003 acquisitions, Consolidated Water now has “in house” SWRO engineering, design, construction and plant management and operation capability and is the exclusive distributor in the Caribbean basin, under a seven-year agreement, for DWEER™ energy recovery systems used in SWRO plants. Minimizing energy consumption is one of the key elements in the commercial application of SWRO technology and, based on its operating specifications, the DWEER™ system is one of the most energy efficient of its kind in the world.

The Caribbean basin is one of the fastest growing SWRO markets in the world and Consolidated Water continues to actively pursue water projects and acquisition opportunities, primarily, in that area and Central America but will consider profitable ventures that arise elsewhere in the world.

Recent Releases

Sep 4, 2008
Consolidated Water Co. Ltd. to Present at Wall Street Analyst Forum's 19th Annual Institutional Investor Conference

Sep 2, 2008
Consolidated Water Co. Ltd. Announces Seven-Year Extension of Contract to Operate Red Gate Plant on Grand Cayman Island

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