Current Water Technologies Inc. (TSX-V: WATR)
("
CWTI" or "
the Company" or
"
the Corporation"), an emerging technology leader
in the management and treatment of industrial and municipal
wastewater and drinking water resources, provided today a corporate
update.
Current Water has an increasing sales pipeline.
During the first quarter, the Company received a record of 47
requests for quotations for sales of pumping stations, of various
designs and capacities, and for municipal and industrial water
treatment systems.
Also, during the first quarter of 2021 the
company completed the fabrication of the following two
custom-automated pumping systems. Fabrication of a third major
pumping station is scheduled to be completed and shipped by the
middle of May.
In early March, an Agriculture Irrigation
Pumping Station (photo to the right) was loaded onto two (2)
53-foot trailers for transport to Manitoba.
This station is comprised of two (2) 150-HP
(horse-power) submersible vertical turbine pumps designed to
deliver 3800 USGPM (US gallons per minute) at a pressure of 95 PSI
(pounds per square inch). Pre-treatment consists of a bank of
parallel-flow single stage filters designed to remove suspended
solids larger than 500 microns.
At the end of March, a Municipal Storm Water
Irrigation Pumping Station (photo to the left) was loaded onto a
53-foot trailer for transport to Alberta.
This station is comprised of two (2) 25-HP
submersible vertical turbine pumps capable of delivering 440 USGPM
at a maximum pressure of 110 PSI. Pretreatment consists of an
automated cleaning, multi-stage filtration system designed to
remove suspended solids above 5 microns, followed by UV
(ultra-violet) disinfection.
In response to our recent sales and marketing
activities, CWTI has already received orders for new pumping
stations totalling $170,000. Based on the level of interest, the
Company anticipates robust sales of its proprietary
custom-automated pumping stations in 2021.
Dr. Gene Shelp, Current Water’s CEO, said, “We
are excited about the accelerating sales growth potential for our
pumping division. Furthermore, despite the challenges with COVID,
we are optimistic that our continuing discussions with interested
parties will result in near term sales of our patented water
treatment systems.
The Company is encouraged by the Biden
Administration’s recent announcement of a $2 trillion USA
infrastructure plan, which includes a focus on green energy, as
well as $112 billion for rebuilding the country’s water
infrastructure.
We are exceptionally well positioned to
successfully take advantage of the boom in infrastructure
investment, especially with the increasing importance of water
infrastructure. With our improved balance sheet we are investing in
hiring senior sales and technical staff to further our growth. We
expect to make further announcements this quarter.
This major initiative, coupled with the revival
of the US EPA and environmentally responsible water management,
represents a unique opportunity for CWTI as its strategic plan
includes the recovery of clean energy in the form of hydrogen gas
while treating ammonia, a significant environmental
contaminant.”
Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
About Current Water Technologies
Inc.
Current Water Technologies is a
“Technology Company” applying its patented and proprietary
“Electrochemical Technologies” to the treatment of waste water,
desalination water and drinking water contaminated by metals or
nutrients, i.e., nitrate/ammonia associated with the mining, metal
processing, chemical, agricultural, municipal and waste management
sectors. Pumptronics Incorporated operates as a division of the
Company and continue to function as an integrated pump station
manufacturer specializing in custom design and automation.The
common shares trade on Tier ll of the TSX Venture Exchange under
the symbol “WATR”.
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor RelationsAndreas Curkovic, Proconsul
Capital: 416-577-9927
Dr. Gene S. Shelp, Ph.D., P.Geo.President and
CEO
E-mail: gshelp@currentwatertechnologies.comWeb
Site: www.currentwatertechnologies.com
Forward Looking Statements
This news release contains forward-looking
statements within the meaning of the “safe harbour” provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties
and other factors that may cause Current Water Technologies Inc.
results to differ materially from expectations. These include risks
relating to market fluctuations, property performance and other
risks. These forward-looking statements speak only as of the date
hereof. Certain statements contained in this press release and in
certain documents incorporated by reference into this press release
constitute forward-looking statements. The use of any of the words
"anticipate", "continue", "estimate", "expect", "may", "will",
"project", "should", "believe" and "confident" and similar
expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. Current Water believes that the expectations reflected
in those forward-looking statements are reasonable but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements included in, or incorporated by
reference into, this press release should not be unduly relied
upon. These statements speak only as of the date of this press
release. Current Water undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Two photos accompanying this announcement are
available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0cfb2f5c-a6a7-464d-a624-98d22c7146c0
https://www.globenewswire.com/NewsRoom/AttachmentNg/faa35b85-0096-4647-84f0-c5fe8d61629f
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