The parties will form the JV entity to address water treatment requirements on the Indian sub-continent.
The MOU outlines a body of principles, including corporate governance and operational protocols need to be committed to a formal agreement, which the parties expect to resolve in the forthcoming few weeks.
Once an agreement has been reached between the firms, JV is expected to begin operations under the supervision and control of SEEPL.
Under a formal agreement, Sionix intends to grant a license to the JV for fabricating and assembling the MWTS in India for applications on the sub-continent under a royalty arrangement.
A long-term consulting engagement between Sionix and Sionix SK is also expected to be included in the formal documentation.
Sionix and SEEPL, a water and wastewater treatment company, will equally share the ownership of the JV.
