April 3, 2019, Guelph, Ontario. 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, is pleased to announce that it will receive funding of up to $120,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
In May 2018, CWTI participated in a trade mission to Hebei Province in China sponsored by the Canada China Trade Innovation Alliance (CCTIA). Through the support of local government officials, CWTI was able to identify numerous industries in Hebei province interested in partnering with CWTI to perform testing using CWTI’s patented water treatment systems. With research and development funding from NRC IRAP, CWTI is constructing a mobile demonstration unit which will be shipped to the partners’ sites in Hebei Province, China. Test programs will be designed to demonstrate the efficacy of the system to treat various water streams in order to produce high purity boiler feedwater.
Dr. Gene Shelp, President and CEO of Current Water Technologies commented that “this most recent investment in Current Water by NRC IRAP builds upon a history of support from the Government of Canada for Current Water’s suite of leading-edge electrochemical technologies. This funding allows CWTI to carry out the necessary research and development work to build a mobile demonstration unit which will prove the efficacy of its innovative water treatment system to its partners in China under site-specific water conditions. CWTI would like to thank NRC IRAP and the Government of Canada for this funding and their continued support of emerging Canadian technology companies.”
About Current Water Technologies Inc.
Current Water Technologies Inc. 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 will operate 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 of the Company trade on Tier ll of the TSX Venture Exchange under the symbol “WATR”.
FOR FURTHER INFORMATION PLEASE CONTACT:
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 Technologies Inc. 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 Technologies Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.