a process for removing and recovering a dissolved substance , either acid or a base , from an aqueous feedstream . the feedstream is contacted with an aqueous dispersed phase containing liquid membrane emulsion which removes the dissolved substance to the degree desired from the feedstream and absorbs it into the liquid membrane emulsion . the aqueous dispersed phase of the emulsion comprises a reagent which reacts with the dissolved substance by neutralization , allowing the dissolved substance to accumulate to a significant concentration in the emulsion before the spent emulsion is separated from the treated feed and coalesced into a membrane and a spent aqueous internal reagent phases . the spent aqueous internal reagent phase is subjected to electrolysis in a bipolar membrane cell which regenerates the dispersed reagent loaded internal aqueous phase in a composition suitable for recycle to emulsification and further feedstream treatment . the bipolar cell also generates an aqueous stream rich in dissolved substance from which the extracted dissolved substance can easily be recovered in pure form by conventional separation means .