Forward Water Technologies (TSX-V:FWTC) Corp said it has signed and entered into a definitive agreement dated February 3, 2022, with Membracon (UK) Ltd that outlines the terms of their joint venture.
The joint venture will be resourced by both Membracon and Forward Water and will be responsible for delivery of Forward Water's proprietary forward osmosis processes and solutions within the United Kingdom and Ireland.
The technology is a breakthrough that has the potential to provide new economic and environmental solutions for municipal leachate treatment within the UK and beyond.
In a statement, Forward Water's vice-president of engineering sales, Grant Thornley, commented: "We are excited by the agreement between Forward Water and Membracon, as it allows us to extend our unique solution offerings into the UK for the treatment of tough and complex wastewaters, utilizing our advanced forward osmosis (FO) technologies. The advancements in FO technology allows for new opportunities in sustainability, water reuse and the safeguarding of our environment for generations to come".
READ: Forward Water Technologies inks LOI for forward osmosis joint venture with Membracon UK
Membracon is a globally positioned wastewater treatment solutions provider with a focus on water re-use and recycling as well as net zero carbon neutrality emphasis. The company is a global leader in the industrial water treatment sector, providing solutions and technology to world-class manufacturing businesses on every continent.
With Membracon's systems, wastewater treatment plants can adopt state-of-the-art systems without a high carbon penalty. The low-energy requirements and capabilities of Membracon's systems are the best-in-class, specially designed for every application.
Matt Williams, managing director for Membracon commented: "The addition of Forward Water's FO technology to the Membracon water treatment portfolio allows us to better serve our client base and provide unique and highly effective solutions for their challenging water management needs."
Forward Water Technologies is a 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. Its technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release.
Forward Water Technologies' 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.
Contact the author at jon.hopkins@proactiveinvestors.com