Forward Water Technologies Announces an Early Development Testing Project
Toronto, Ontario, September 6, 2022 – Forward Water Technologies Corp. ("Forward Water" or the “Company”) (TSXV:FWTC) announces that it has secured an early development testing project to support a globally positioned mining company to aid in the sustainable lithium isolation pathway.
The supply of lithium carbonate is projected to be realized by isolating lithium from naturally occurring water sources such as aquafers. Critical to this isolation process is the handling of high-strength brine solutions. Methods of brine concentration will be a needed part of the process and those methods must be both economical and of limited impact on the surrounding environment. As lithium extraction methods rely on water as a key material, the implementation of new water technologies that ensure water will be preserved becomes essential. The Company’s patented technology solution has the ability to concentrate lithium containing feeds by extracting clean water and facilitating the isolation process. Once completed, the clean water will be returned to the original source, used in replenishing the aquifer or re-used in the industrial process all while creating a more efficient procedure.
An early development testing project has been established in which Forward will test its water treatment capabilities with field sourced brines to ascertain its potential commercial effectiveness. This is the first step in ensuring a commercial, profitable, and environmentally responsible production pathway. President and CEO, Howie Honeyman comments, “We are pleased to initiate the first steps in exploring how our technology can be exploited for lithium production. If successful our potential partnership will allow rapid deployment of an efficient water preserving process across the globe”. The Company's ability to concentrate challenging brines throughout the lithium processing path positions Forward Water to be an exceptional tool and an asset for lithium production. Moving forward with an economically advanced process as well as a reduced carbon footprint is essential for the sustainability of the world.
About Forward Water Technologies Corp.
Forward Water Technologies Corp. is a publicly-traded Canadian company dedicated to saving the earth’s water supply using its patented Forward Osmosis technology. The Company was founded by Green Centre Canada a leading technology innovation centre, supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company’s mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. For more information, please visit www.forwardwater.com.
Mr. Howie Honeyman, Ph.D., President & Chief Executive Officer
Forward Water Technologies Corp.
Phone: (519) 333-5888
For further information please contact:
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as outlined in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
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