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Forward Water Technologies Corp. ("FWTC" or the "Company") (TSXV: FWTC) is pleased to announce that the Company has successfully completed a client sponsored wastewater treatment demonstration project. FWTC designed and implemented a treatment process that incorporated its proprietary iFO forward osmosis process and achieved over 97% recovery of water meeting or exceeding reuse quality metrics and at exceptionally low power consumption rates compared to that use of conventional thermal evaporation.
The client, a Fortune 500 company, has a specific desire to make a contentious improvement in water usage across its global operations. Collaborating with FWTC has demonstrated that FWTC's iFO forward osmosis treatment can process wastewater and achieve exceptionally high recovery rates. Moreover, the recovered water also meets the high standard re-use quality metrics. Upon completing the project FWTC met or exceeded all identified KPI's laid out for the project. In concept, the project illustrated that at commercial scale water reuse could be vastly improved over current technology approaches.
C. Howie Honeyman, CEO of FWTC remarked, "when our iFO technology is intelligently deployed in a commercial setting, the net result leads to the recovery and re-use of water that would otherwise be sent for disposal or delivered to a municipal sewer system. Allowing such high levels of reuse while maintaining high quality metrics allows FWTC to realize water resources as infrastructure instead of a consumable material that gets destroyed in operations."
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 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. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.
For more information, please visit www.forwardwater.com.
Neither the TSX Venture Exchange 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 news release.
Caution Concerning Forward Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. FWTC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of FWTC, including those described in FWTC's disclosure documents available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of FWTC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and FWTC does not undertake to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
SOURCE Forward Water Technologies Corp.
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