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Forward Water Technologies Announces Signing of a Letter of Intent with Membracon UK
TORONTO, ON / ACCESSWIRE / January 27, 2022 / Forward Water Technologies Corp. (" Forward Wa...
About this update from Forward Water Technologies Corp
[{"type":"text","content":"Forward Water Technologies Announces Signing of a Letter of Intent with Membracon UKTORONTO, ON / ACCESSWIRE / January 27, 2022 / Forward Water Technologies Corp. (\"Forward Water\" or the \"Company\") (TSXV:FWTC) is pleased to announce the signing on January 19th, 2022 of a non-binding letter of intent with Membracon (UK) Ltd. (\"Membracon\") that outlines the desire to form a joint venture.The proposed 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. Forward Water will provide laboratory, engineering, and system support while Membracon will develop various client opportunities using its extensive network within the UK and Ireland. The Company's patented forward osmosis solution recovers clean water from the wastewater produced as a result of a variety industrial operations. This pathway allows for water to be re-used and vastly reduces the amount of wastewater sent for final and costly disposal. Not only is clean water recovered for re-use but the overall operational costs are reduced and the lower energy requirements reduce the amount of emitted greenhouse gases (GHG) when compared to conventional technologies.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's low-cost forward osmosis system extracts pure water and reduces overall wastewater volume. This technology is a breakthrough that has the potential to provide new economic and environmental solutions for municipal leachate treatment within the UK and beyond. Forward Water CEO, Mr. Honeyman comments, \"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\".This use of the Company's patented Forward Osmosis solution can significantly reduce the leachate volume, and this will result in landfills using noticeably less energy and simultaneously the resultant clean water will contribute to a more sustainable future and lower carbon footprint. The low energy requirements and extraordinary capabilities of Forward Water's technology make i...