Toronto, November 18, 2021 – Forward Water Technologies Corporation. (“FWT”, Forward Water or the “Company”) (TSXV:FWTC) is pleased to announce a corporate update on the business development activities of their patented Forward Osmosis technology solution.
The Company’s patented Forward Osmosis solution has the potential to significantly reduce water usage in many industrial use applications. Currently, many industrial users will dispose of their water permanently, which in the Company’s view, is detrimental to the environment. By using the Company’s patented Forward Osmosis technology solution, industrial users can reduce water consumption by as much as 90% in many industrial applications. Potential corporate clients will achieve immediate benefits; saving water from being permanently destroyed, and additionally realizing large reductions in their operating expenses associated with legacy water solutions. In this way, Forward Water believes they have created a “win-win” for the corporate water user and the environment.
With the recent addition to their sales team as well as working closely with various marketing platforms, FWT is positioned to actively and aggressively introduce the world to their Forward Osmosis patented technology solution. Forward Water has completed trial-runs at a commercially viable scale that has met or exceeded all expectations and have been proven to be effective on a large scale. In addition to the initial funds raised, and their go-public transaction, this allows FWT to pursue its aggressive growth strategy and execute on their business plan.
Business Development Update
Forward Water is collaborating with distribution partners to serve global opportunities in areas such as the UK and Europe which will represent new emerging markets and opportunities. Included in these collaborations are multiple ongoing trials pending with various European based operations. Additionally, the Company is currently working with its partner in India, Goldfinch Engineering, and is well prepared for the global market by actively accepting test trials. Goldfinch Engineering, is presently operating on-site with their clients and positive results to date as well as further development is on-going.
Furthermore, the Company is accelerating the roll-out of its Forward Osmosis technology platform in multiple business verticals. Forward Water has actively engaged with clients with a concentrated business development initiative in the leachate space (municipal wastewater), oil and gas support services and lithium extraction verticals. Fulfilling the Company’s mandate to deliver innovative technology to clean the world’s most difficult contaminated waters.
President and CEO, Mr. Honeyman comments “Forward Water has been focused on the roll-out of our Forward Osmosis technology platform with a mission to enhance sustainability and potentially alleviate the global demand for fresh water and reduce wastewater treatment and disposal. We are eager and motivated to bring a low energy membrane based technology to treat challenging waste streams that haven’t had any other options other than traditional disposal methods until now. We believe we can help save the planet and help our clients significantly save money”
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 GreenCentre Canada a leading technology innovation centre, supported by the government of Canada. The 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.
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Forward Looking Statements
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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, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
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: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital
on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth 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.