Current Water Technologies Inc. Enters New Market
September 29 2021 - 9:05AM
Current Water Technologies Inc. (TSX-V: WATR) ("CWTI" or "the
Company" or "the Corporation"), an emerging technology leader in
the management of industrial and municipal wastewater, and now in
the development of novel hydrogen and lithium recovery technologies
announces the filing of a provisional patent application for its
AmmEl-H2 system.
The filing of this application with the U.S.
Patent and Trademark Office (USPTO) establishes an early effective
filing date and allows CWTI to ascribe the phrase “patent pending”
to any commercial products, methods, or services contemplated by
the subject matter claimed. The patent application, once converted
into a U.S. non-provisional, utility application, provides the
detailed claims upon which legal protection is afforded upon a
grant of a U.S. patent. CWTI also plans to submit individual
national stage patent applications in select international
jurisdictions.
Grand View Research (July 2020) reported that
the global green hydrogen market size was valued at US $786.9
million in 2019 and that at a projected compound annual growth rate
(CAGR) of 14.24%, the global green hydrogen market size is expected
to reach US $2.3B by 2027. In its recently released UK Hydrogen
Strategy report, the UK government anticipates that hydrogen will
account for 20-35% of the country’s total national energy
consumption by 2050, and other countries are announcing similar
predictions, see UK Hydrogen Strategy article. In addition, Goldman
Sachs Global Investment Research, European Commission estimates
that the global green hydrogen market will reach US $13T in 2050,
and asserts that “hydrogen looks poised to become a
once-in-a-generation opportunity”, see Green Hydrogen article.
Our patent pending AmmEl-H2 technology generates
hydrogen gas while simultaneously removing toxic ammonia from
wastewater. This process differs from traditional electrolyzers
that are operated for the sole purpose of producing hydrogen gas.
Therefore, the AmmEl-H2 has the benefit of generating dual purpose
revenue streams.
Dr. Gene Shelp, CEO said, “During the past year,
Current Water has leveraged its technical endowment into pursuing
new markets and business opportunities. One of the most exciting
opportunities is “green hydrogen”. The company’s goal is to convert
costly municipal wastewater treatment facilities into profit
centers by converting the ammonia into environmentally friendly
nitrogen gas and pure, fuel cell grade, hydrogen gas. Due to the
ubiquity of wastewater treatment plants around the globe, our
vision is to convert these facilities into energy storage centers −
vital components in the future electrical grid.
These locally-created energy storage centers
would facilitate the transition of municipal fleets from
conventional internal combustion engine vehicles to more efficient
hydrogen-powered, fuel-cell electric vehicles. In contrast to
conventional internal combustion engines, fuel cell electric
vehicles do not generate exhaust pollutants, and therefore can
dramatically improve the poor atmospheric conditions plaguing major
cities globally.”
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
Tel: (519) 836-6155Fax: (519) 836-5683E-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.
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