Pumptronics - Accelerating Sales in Emerging Commercial Rainwater/Stormwater Management Sector – New Sales of $400,000 in Sept./Oct.
October 26 2021 - 7:30AM
Current Water Technologies Inc. (TSX-V: WATR)
("
CWTI" or "
the Company" or
"
the Corporation"), Pumptronics division receives
new sales totalling $400,000 in September/October.
Notably, the Company’s recent sales include
sustained/multiple sales within the City of Toronto. Sales to large
municipalities in Ontario is an emerging trend for the Pumptronics
Division, which had historically served the golf industry and the
small municipality market. In 2016, several Ontario cities,
including Toronto and Mississauga, enacted legislation to charge
property owners for the transport and treatment of stormwater
(rainwater, surface runoff, and groundwater) discharged to
municipal sewers. To reduce the annual charges, municipalities have
encouraged new construction projects to add the infrastructure
necessary to capture and reuse rainwater for green space irrigation
and/or non-potable requirements. This important water management
initiative contributes to the sustainability of urban communities
as green terraces and roof top gardens become common place.
The City of Toronto is the first city in North
America to mandate green roofs on all large buildings. The over 700
green roofs provide space for farming and recreation. Onsite
stormwater management is an economical, sustainable and vital
infrastructure to help in reducing the use of potable water for
landscape irrigation, and the burden on municipal water supplies
and wastewater systems.
Since late 2020, Pumptronics has dedicated
resources to develop custom products and services for the
commercial property stormwater management sector in Ontario. A
total of 48 quotations has been issued for stormwater pumping
systems in this emerging market, totalling approximately
$1,600,000. In September/October alone, Pumptronics has received
purchase orders for 5 Rainwater Harvesting Pumping Systems and
expects to secure numerous additional sales before year-end.
Dr. Gene Shelp, Current Water’s CEO, said, “We
are very pleased to see the continuing growth of our traditional
pumping business in the national market and particularly into large
municipalities. Pumptronics considers commercial property
stormwater management an important niche market that has the
potential to grow significantly as the Company expands its
marketing efforts within and outside Ontario. Our pumping business
has become an invaluable addition to the Company, complementing new
major opportunities with our global AMMEL and ESD business lines.
Current Water has never been better positioned for significant
growth.”
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:
Dr. Gene S. Shelp, Ph.D., P.Geo.President and
CEO
Tel: (519) 836-6155Fax: (519) 836-5683E-mail:
gshelp@currentwatertechnologies.com Web 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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