- Current Water Technologies (WATR) signs binding memorandum with Singapore-Based Separtis Technologies Global
- The joint venture is focusing on the water treatment and green hydrogen sectors in Q1, 2023
- Current Water Technologies shall grant the joint venture an exclusive license to sell and market the company’s extensive portfolio of technologies
- A short-term priority for the company is to turn costly wastewater treatment facilities into profit centers
- Current Water Technologies (WATR) closed at C$0.04 on Feb 1
Current Water Technologies (WATR) has established a binding memorandum of agreement with Separtis Technologies Global Pte Ltd of Singapore.
CWTI’s CEO, Dr. Gene Shelp, said, “Separtis and CWTI have emwill focusupon an ambitious schedule to establish a 50/50 joint venture company for global sales and marketing activities.”
The joint venture focuses on the water treatment and green hydrogen sectors by the end of Q1, 2023.
“We believe that a unique and timely business opportunity exists to integrate leading-edge technologies with global market opportunities, strategic government climate and energy initiatives, aligned society and corporate interests, and funding specifically targeting ‘ESG’ (Environmental, Social, Governance) projects,” added Dr. Shelp.
As for the definitive sales and marketing and IP transfer agreements, both parties plan to address this in February.
Based on current activities, Current Water Technologies shall grant the joint venture an exclusive license to sell and market the company’s extensive portfolio of technologies.
The company’s short-term priority is turning costly wastewater treatment facilities into profit centers.
For example, ammonia, found in municipal and industrial wastewaters, will be converted into valuable environmentally responsible products such as high purity, fuel cell-grade green hydrogen gas, environmentally friendly nitrogen gas, and a valuable disinfectant.
As for Separtis Technologies, the company is a Singapore-registered technology platform focusing on waste management and utilization.
Clean Water Technologies applies its patented and proprietary “Electrochemical Technologies” to producing Green Hydrogen and treating wastewater, desalination water and drinking water contaminated by metals or nutrients.
Current Water Technologies (WATR) closed at C$0.04 on Feb 1.