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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 project illustrating how forward osmosis (FO) can be used to concentrate feed streams having high value.
The client, a globally positioned leader in its commercial field expressed interest in evaluating FO as a method to create a high value concentrate that enable cost effective downstream production. Under the client sponsored trial, FWT was able to show that using FO in a manner the reflects the capabilities of its proprietary technology, the feed stream could be concentrated far in excess of the target goals. The potential result is a process that could effectively reduce production costs by the elimination multistage thermal evaporation, which is currently used. The customer and the Company are now considering the next stages of the project that would ultimately lead to commercial implementation.
"With this result there is good reason to believe that the developing technology FWTC has in its portfolio that a new cold concentration pathway can be established that surpasses those in the current marketplace", said C. Howie Honeyman. Further he stated, "while we are excited to work with our current client, we will also be able to rapidly deploy this technology in other sectors once we complete these first scale up efforts".
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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