- Current Water (WATR) has signed a licensing agreement for an ammonia treatment system
- The company signed the definitive agreement with a consortium of aquaculture companies comprised of Ship Nature’s Way and GIS Ventures
- The contract has a term of 10 years with a first-year minimum sales milestone of C$1.35M
- Current Water offers wastewater treatment and pump station manufacturing
- Current Water Technologies (WATR) is unchanged trading at $0.05 per share
Current Water (WATR) has signed a licensing agreement for an ammonia treatment system.
The company signed the definitive agreement with a consortium of aquaculture companies comprised of Ship Nature’s Way (SNW) and GIS Ventures.
Ammonia is the principal metabolic waste product of fish and other aquaculture animals. Even small concentrations can cause stress, poor growth, tissue damage and bacterial infections.
The initial 10-year term includes a first-year minimum sales milestone of approximately C$1.35M, rising to $3.72M in each subsequent year.
The company expects to register initial sales in Q2 and Q3 of 2022.
“This is a decisive milestone for Current Water. We will be generating significant revenue in a new sector that also promises robust growth,” stated Gene Shelp, Current Water’s CEO.
“SNW’s Live Haul testing program is scheduled to continue until May 2022. CWTI anticipates sales of this AmmEL-Aqua model immediately following completion of the testing program with SNW outfitting a minimum of 30 of its existing container fleet during year 1,” he added.
Current Water offers wastewater treatment and pump station manufacturing.
Current Water Technologies (WATR) is unchanged trading at $0.05 per share as of 10:59 am EST.