Current Water Technologies Provides Corporate Progress Update
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GUELPH, Ontario, Feb. 02, 2021 (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 wastewater and drinking water resources, provides a corporate update.
Despite logistical challenges introduced by the COVID pandemic the Company’s Pumptronics Division has experienced and continues to experience robust commercial sales. Pumptronics specializes in the design and fabrication of high quality irrigation pump stations and control systems. Its state-of-the-art automated pumping stations can be found in the the agriculture, golf, storm water/flood water and rain-water harvesting sectors. COVID -19 remains a unique global challenge in 2021, and CWTI continues to be vigilant in protecting its staff, while maintaining responsible fabricatation timelines.
The current fabrication pipeline for pump stations includes sales exceeding $1,200,000. Based on the number of new proposals already submitted this year, the company anticipates an accelerating sales program in 2021. Accordingly, CWTI has added three new staff to its sales team to target specific commercial, agricultural and municipal sectors nationally. Full financial results will be available in the Company’s upcoming fourth quarter and annual 2020 results that will be released by the end of March 2021.
Concurrently, CWTI is aggressively pursuing the commercial success of its patented AmmEL and ESD water treatment systems. In 2020, the Company conducted testing programs for several domestic and international clients, and expects commercial contracts to be forthcoming in 2021.
Dr. Gene Shelp, Current Water’s CEO, said, “In 2020 the Company developed new market opportunities for Pumptronics products and advanced the possibility of commercial contracts for its innovative water treatment systems in diverse sectors. I believe that we have set a solid foundation for 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:
Investor RelationsAndreas Curkovic, Proconsul Capital: 416-577-9927
Dr. Gene S. Shelp, Ph.D., P.Geo.President and CEO
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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