Forward Water Technologies inks LOI for forward osmosis joint venture with Membracon UK
Published on by Trudi Schifter, CEO and Founder AquaSPE in Business
The company said it will provide laboratory, engineering, and system support while Membracon will develop various client opportunities using its extensive network within the UK and Ireland
Forward Water Technologies -
Forward Water said the two companies have worked closely together over the last 12 months, developing an application within the UK for a landfill wastewater solution with “promising results”
Forward Water Technologies (TSX-V:FWTC) Corp announced the recent signing of a non-binding letter of intent (LOI) with Membracon (UK) Ltd, which outlines the desire to form a joint venture for delivery of Forward Water's proprietary forward osmosis processes and solutions within the United Kingdom and Ireland.
The company said it will provide laboratory, engineering, and system support while Membracon will develop various client opportunities using its extensive network within the UK and Ireland.
“The capability of Forward Water's technology combined with the deployment capacity of Membracon provides an excellent pathway to enter the UK market with a targeted application already well underway,” Forward Water Technologies (TSX-V:FWTC) CEO Howie Honeyman said in a statement.
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Forward Water noted that the two companies have worked closely together over the last 12 months, developing an application within the UK for a landfill wastewater solution with “promising results”, as the forward osmosis technology has the potential to provide new economic and environmental solutions for municipal leachate treatment within the UK and beyond.
Forward Water’s osmosis solution recovers clean water from the wastewater produced as a result of a variety industrial operations, reducing overall operational costs and lowering energy requirements.
Forward Water Technologies (TSX-V:FWTC) is a Toronto-based company dedicated to the commercialization of its proprietary forward osmosis technology. Its mandate is to focus on the large-scale implementation of its technology in industrial wastewater, oil and gas, mining, agriculture, and ultimately municipal water supply and re-use market sectors.
Contact Sean at sean@proactiveinvestors.com
Taxonomy
- Forward Osmosis