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Ambient Water Signs Memorandum of Understanding With Penida Capital for Exclusive Manufacturing and Sale of AW2500 in Indonesia
Ambient Water Signs Memorandum of Understanding With Penida Capital for Exclusive Manufacturing and Sale of AW2500 in Indonesia.
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[{"type":"text","content":"\nAmbient Water Signs Memorandum of Understanding With Penida Capital for Exclusive Manufacturing and Sale of AW2500 in Indonesia\n\nAmbient Water Signs Memorandum of Understanding With Penida Capital for Exclusive Manufacturing and Sale of AW2500 in Indonesia\n\n\nBoth Companies to Publically Sign MOU at ASEAN Mayors and Makassar Investment Forum; Ambient Water CEO Keith White Also to Speak as Part of \"SMART CITY in Makassar, Making it Work\" Panel \n\n SPOKANE, WA--(Marketwired - September 08, 2015) - Ambient Water (OTCQB: AWGI), a leading provider of atmospheric water generation systems for extracting water from humidity in the air, today through its subsidiary, announced the signing of a Memorandum of Understanding (MOU) with Penida Capital Advisors Ltd., an Indonesian corporation, for exclusive rights to manufacture and sell the AW2500 within the 10-member economies of ASEAN (Association of Southeast Asian Nations). The MOU is non-binding and contemplates the preparation and execution of definitive agreements. Members of ASEAN's 620-million population region include Indonesia, Philippines, Vietnam, Thailand, Malaysia, Singapore, Brunei, Cambodia, Laos, and Myanmar. Both companies will sign the MOU publically on Tuesday, September 8, 2015 at the ASEAN Mayors and Makassar Investment Forum taking place in Indonesia. The MOU will allow Penida Capital, through a Special Purpose Company, to establish an exclusive manufacturing license in the ASEAN region for the AW2500, Ambient Water's residential model of its atmospheric water generation technology, which can produce up to five gallons of drinkable water per day from the humidity which exists in the air. Additionally, Penida Capital, through a special purpose company, will sell Ambient Water's commercial and industrial units such as the flagship AW400. The commercial and industrial units can produce anywhere from hundreds to thousands of gallons of water per day, making them an ideal solution to bulk water needs. The MOU contemplates that Ambient will own a 30% equity stake in the Special Purpose Company. \"Indonesia has had some well documented issues with water -- notably an inadequate supply and challenges with delivery and cleanliness. These issues have slowed economic growth in under-serviced regions which require a clean and sustainable water solution,\" said Keith White,...