- Current Water (WATR) has signed an MOU with Ship Nature’s Way, a leading consortium of aquaculture companies
- Following beta testing, the company will grant Nature’s Way a global perpetual license to its ammonia treatment system to transport and store live seafood
- The parties expect to sign a definitive commercial agreement within the next 60 days
- Current Water offers wastewater treatment and pump station manufacturing
- Current Water Technologies (WATR) is up by 25 per cent trading at $0.05 per share
Current Water (WATR) has signed an MOU with Ship Nature’s Way, a leading consortium of aquaculture companies.
Nature’s Way shareholders include Ocean Perfect BV and GIS Gas Infusion Systems.
Following beta testing, Current Water will grant Nature’s Way a global perpetual license to its ammonia treatment system to transport and store live seafood.
Nature’s Way will incorporate the system into its gas management system for the containerized Ocean Perfect BV live haul transport fleet.
The parties expect to sign a definitive commercial agreement within the next 60 days.
The global aquaculture market is projected to grow at a 5.8 per cent CAGR to US$340 billion by 2027.
Dr. Gene Shelp, Current Water’s CEO, stated,
“Current Water is very excited to work closely with SNW, which is dedicated to the development and implementation of a cost-effective, humane, live haul transport and storage system for managing temperature, respiratory gases and waste products, such as ammonia, at maximum stocking densities, without negatively impacting meat quality, shrinkage and animal welfare.
Aquaculture represents a substantial market opportunity for Current Water’s innovative water treatment solutions. Current Water expects future sales of its ammonia treatment systems to expand into commercial sectors related to seawater and freshwater husbandry, including the management of marine zoos/parks that exhibit and rescue/rehabilitate sea animals.”
Current Water offers wastewater treatment and pump station manufacturing.
Current Water Technologies (WATR) is up by 25 per cent trading at $0.05 per share as of 11:19 am ET.