Forward Water Technologies (TSX-V:FWTC) Corp has announced that it is one of the five finalists moving to the second phase of the Mining Innovation Challenge: Reduce Water Use organised by the Mining Association of British Columbia (MABC) and Foresight Canada.
The company noted that the Mining Innovation Challenge: Reduce Water Use, first announced in December 2021, is a two-phase contest that aims to discover new solutions to reduce water use in intensity in mining operations and offers the winners a prize of $150,000 as well as the potential for a pilot opportunity.
Forward Water said it will present its patented forward osmosis solution that has the potential to significantly reduce water usage in many industrial mining applications in the full proposal stage of the challenge.
"The mining industry is essential to the global economy as well as continuing to increase the quality of life. However, enabling this industry to be sustainable is essential and Forward Water is aiding in that evolution. Entering this competition is a first step in that direction,” the company’s president and CEO Howie Honeyman said in a statement.
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The mining industry uses a large amount of water through the mill, mineral processing, and tailings process, the company said, adding that wastewater produced by such activities can now be reclaimed in majority and further used in mining operations with the use of Forward Water's proprietary cutting-edge technology.
It noted that Forward Water is a forerunner in the field of wastewater reclamation and that its simple three-step process technology allows manufacturers to clean their wastewater and reclaim 90% as clean water.
The technology extracts clean water through a membrane utilizing a proprietary forward osmosis method, which essentially removes impurities and separates the clean water, making it reusable.
The winner of the second and final phase, which runs from April 1 to May 12, 2022, will be announced by the end of June.
Forward Water 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.
The company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. Its 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 reuse market sectors.
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