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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Feb. 14, 2022 (GLOBE NEWSWIRE) — Water Methods Applied sciences Inc. (TSXV: WWT) (FRA: WWT) (“WWT” or the “Firm“), a worldwide supplier of Israeli-based agriculture expertise, offering water irrigation options to agricultural producers is happy to announce the signing, efficient February 9, 2022, of a 3rd cotton sensible drip irrigation mission in Uzbekistan growing mission backlog to be executed in 2022 to over CAD$9,400,000 (in comparison with $CAD6,700,000 beforehand disclosed in our press launch dated January 31, 2022).
The worth of the third mission within the Bukhara province of Uzbekistan is CAD$2,700,000 and is deliberate to be accomplished by the third quarter of 2022. The settlement contains CAD$100,000 in service and consulting companies. The mission irrigates utilizing totally automated drip irrigation expertise servicing a discipline of 886 hectares of cotton. The mission contains the development of 6 reservoirs of water and 6 full head controls. Every head management consists of pumping system, filtration, strain administration items, fertigation, and a cloud primarily based automation system which can activate and function all the system.
Operation of the sensible irrigation methods will begin within the subsequent cotton cultivation season with agronomic and technical help from WWT to assist the native farm in using the brand new system and implementing agro-technical practices to enhance the yield and output of the farm. WWT believes that drip irrigation for cotton is a part of the Uzbek authorities’s nationwide plan for water and soil conservation. Over the previous a number of years, flood irrigation has brought about quite a few environmental issues in Uzbekistan, the primary one being soil salinity, which can result in soil erosion, detrimental results on future crops, sedimentation issues and injury to infrastructure. WWT believes that drip irrigation will decrease soil salinity considerably and mixed with fertigation practices, will improve yields for the growers while conserving water.
All three initiatives totalling CAD$9,400,000 are repeat orders from a recurring buyer who ordered a CAD$4,000,000 system in 2021, validating the standard of the Firm’s merchandise, service and buyer relations. All funds to Water Methods are secured by Irrevocable Letters of Credit score.
Water Methods is presently negotiating extra agreements in Uzbekistan which it hopes to signal within the coming months within the discipline of sensible irrigation in varied crops.
Ohad Haber, WWT’s Chairman and CEO commented: “This order brings the backlog of initiatives to CAD$9,400,000, the biggest we ever had in February since I began Water Methods 18 years in the past. I anticipate our enterprise to develop considerably in 2022 as we’re seeing elevated demand for sensible irrigation in lots of international locations all over the world.”
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/120f3f84-7ace-4147-b680-a148b6f5e972
About Water Methods Applied sciences
Water Methods Applied sciences Inc., by its subsidiaries, is a worldwide supplier of Israeli-based agriculture expertise, offering water irrigation options to agricultural producers. Water Methods Applied sciences competes within the world irrigation water methods market with a deal with growing options with business purposes within the micro and precision irrigation segments of the general market. At current, Water Methods Applied sciences’ most important income streams are derived from the next enterprise items: (i) Initiatives Enterprise Unit; and (ii) Part and Gear Gross sales Unit. Water Methods Applied sciences is capitalizing on the alternatives introduced by micro and sensible irrigation, whereas additionally making a optimistic mark on society by making these applied sciences extra extensively accessible, particularly in growing markets akin to Africa and Latin America and developed markets akin to China and Canada. Water Methods Applied sciences irrigation initiatives embody vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Hashish growers, recent produce cooling rooms and extra, in over fifteen international locations.
https://www.water-ways-technologies.com/
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Twitter: @WaterWaysTechn1
Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
Ahead-Trying Statements
Sure statements contained on this press launch represent “forward-looking info” as such time period is outlined in relevant Canadian securities laws. The phrases “could”, “would”, “may”, “ought to”, “potential”, “will”, “search”, “intend”, “plan”, “anticipate”, “imagine”, “estimate”, “anticipate” and related expressions as they relate to Water Methods. All statements aside from statements of historic reality could also be forward-looking info. Such statements mirror Water Methods’ present views and intentions with respect to future occasions, and present info accessible to Water Methods, and are topic to sure dangers, uncertainties and assumptions. Materials elements or assumptions had been utilized in offering forward-looking info. Many elements may trigger the precise outcomes, efficiency or achievements that could be expressed or implied by such forward-looking info to range from these described herein ought to a number of of those dangers or uncertainties materialize. Ought to any issue have an effect on Water Methods in an sudden method, or ought to assumptions underlying the forward-looking info show incorrect, the precise outcomes or occasions could differ materially from the outcomes or occasions predicted. Any such forward-looking info is expressly certified in its entirety by this cautionary assertion. Furthermore, Water Methods doesn’t assume duty for the accuracy or completeness of such forward-looking info. The forward-looking info included on this press launch is made as of the date of this press launch and Water Methods undertakes no obligation to publicly replace or revise any forward-looking info, aside from as required by relevant legislation. Water Methods’ outcomes and forward-looking info and calculations could also be affected by fluctuations in trade charges and its personal share costs. All figures are in Canadian {dollars} until in any other case indicated.
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