(via Thenewswire.ca)
November 5, 2012. Guelph, Ontario.(TSX-V:ENP) ("ENPAR" or "the Company")
On October 12, 2011, Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. announced that the Company had entered into a Memorandum of Understanding (MOU) with Miahona of the Kingdom of Saudi Arabia ("KSA") to develop markets for ENPAR's array of state-of-the-art water treatment technologies in KSA and other regions of the Middle East.
A fully-owned subsidiary of the Arabian Company for Water and Power Development Ltd. (ACWA Holding), Miahona is a world-class company which provides management services for industrial and urban utilities (management and concession) for water supply, waste water collection and treatment facilities.
During the past twelve months, a joint technical/business development team has been engaged in business development activities centering on the introduction of ENPAR's innovative water treatment systems within the two major industrial regions of the KSA.
As a result of recent positive developments arising from our joint business activities, ENPAR is pleased to have hosted Miahona representatives at the Company headquarters in Guelph, ON. During the past week, Dr. Walid Abderrahman, Chairman & CEO of Miahona, audited the Company's manufacturing facilities and the full-scale demonstration unit currently operating at a local municipal facility.
Dr. Shelp commented, "Our joint efforts have identified specific applications and target end-users within the petro-chemical and energy sectors for ENPAR's innovative water treatment systems and near term sales are anticipated within the KSA. Successful implementation of our ESD and AmmEL systems will result in a formal joint venture agreement. Future business development activities will include the oil and gas, mining, food and beverage and municipal sectors. "
It has been reported that the Middle East and North Africa region supports five percent of the world's population with less than one percent (1%) of the global, available water supply. The value of the reuse market in Saudi Arabia is estimated at USD $3.4 billion for the period 2009 - 2016, making it the third largest water reuse market in the world. Saudi Arabia's advanced treated water reuse capacity is growing at an annual rate exceeding thirty percent (30%) and is expected to reach 2.2 million cubic meters per day by 2016 from its reported, current level of 260,000 cubic meters per day.
About ENPAR Technologies Inc.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares of the Corporation trade on Tier ll of the TSX Venture Exchange under the symbol "ENP". At present, ENPAR holds a total of 23 patents and has submitted an additional 15 patent applications related to six distinct technologies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gene S. Shelp, Ph.D., P.Geo., President and CEO
Tel: (519) 836-6155
Fax: (519) 836-5683
E-mail: gshelp@enpar-tech.com
Web Site: www.enpar-tech.com
70 Southgate Drive, Unit 4, Guelph, ON, CANADA N1G 4P5
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. ENPAR believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. ENPAR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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