Ship Nature’s Way Awards Current Water Technologies Inc. First Contract to Provide Novel Ammonia Treatment System
07 October 2021 - 12:05AM
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, received an
initial $73,000 contract from Ship Nature’s Way (SNW) to design a
novel ammonia treatment unit for the safe transport of marine and
fresh water animals (refer to Press Release dated Sept 21, 2021).
This initial contract is an operating trial demonstration, and
successful completion will lead to additional commercial contracts.
Ammonia, after oxygen, is generally considered
the water quality parameter that most affects the health of
aquaculture animals. This issue is most important in intensive
systems which depend on comprehensive treatment of water before
recirculation. Even low levels of ammonia cause stress and poor
growth, damage gills and other tissue, and increase susceptibility
to bacterial infections.
As ammonia is the principal metabolic waste
product of fish and other aquaculture animals, it is extremely
important that exposure to toxic ammonia levels is prevented by
maintaining an aggressive treatment program during both the
pre-transport conditioning and transportation stages.
Dr. Shelp said, “CWTI is a leader in the
development of electrochemical technologies for the treatment of
ammonia in municipal and industrial waste waters. We are extremely
confident in our ability to design an innovative ammonia treatment
solution system that will help ensure the cost effective, humane,
live haul transport and storage of aquaculture animals.
Given the business acumen of the SNW consortium
of companies and the predicted market value of the global
aquaculture sector of US $340 billion in 2027, near-term commercial
sales are anticipated. Following a successful trial, 35 and 70
AmmEl-CRx units will be purchased in Y2022 and Y2023, respectively,
to outfit the existing container fleet. Expansion of the container
fleet is expected to occur in Y2024 to Y2026.
We look forward to an exciting 12–24
months.”
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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