GUELPH, Ontario, March 01, 2022 (GLOBE NEWSWIRE) -- 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 wastewaters and drinking water resources, provides a corporate update.
The Company’s Pumptronics Division has experienced robust commercial sales in the first quarter of 2022, despite continuing COVID restrictions. Pumptronics received purchase orders for two custom designed and built, state-of-the-art automated pumping stations to be installed in Western Canada. The first, a storm water pump station ($648,000), is to be installed in Calgary, Alberta, and the second, a transfer pump station ($278,150), is be installed in the City of Chestermere, Alberta. The current fabrication pipeline for smaller pump stations also includes an additional $76,000 in sales.
CWTI has also had solid commercial success for 2022, which includes an approximate $250,000 contract from Highland Engineering for development of its patent-pending novel AmmEl-H2 technology (see February 1, 2022 press release), and the purchase of a second leading edge AmmEl-Aqua system ($46,000) with the signing of the Definitive Sales and Marketing Agreement with Partners Ship Nature’s Way Inc. and GIS Ventures (see February 22, 2022 press release).
Dr. Gene Shelp, Current Water’s CEO, said, “the Company is having a strong start to 2022 and anticipates continued long-term future sales growth for both CWTI and Pumptronics.”
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) 836-6155
Fax: (519) 836-5683
E-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.
