Water Ways Signs Smart Irrigation and Fertigation Project in Canada With a Total Expected Value of CAD$850,000
March 22 2023 - 8:41AM
Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) ("
Water
Ways" or the "
Company"), a global
provider of Israeli-based agriculture technology, providing water
irrigation solutions to agricultural producers, is pleased to
announce that its fully owned Canadian subsidiary, Heartnut Grove
WWT Inc. ("
HGWWT"), has signed an agreement to
design and supply a complete smart irrigation and fertigation
system for a recurring customer.
Under the agreement, HGWWT will provide
irrigation and fertigation system for an apple orchard project in
Southern Ontario. The first stage of the project, with a total
expected value of CAD$850,000, will use the latest Israeli
technologies for smart irrigation, fertigation and control systems
and are designed by Water Ways' engineers.
The installation of the project is expected to
begin in Q3 2023 and continue throughout the first months of 2024.
Commissioning of the system is expected at the end Q1 2024. HGWWT
expects to recognize revenues accordingly.
Ohad Haber the Company's Chairman and CEO
commented: "We are excited to have the
opportunity to provide our cutting-edge irrigation system for this
apple orchard project. This project represents a significant
milestone for HGWWT, and we look forward to continuing to expand
our business and provide innovative solutions to agricultural
producers."
Apple Orchard
About Water Ways
TechnologiesWater Ways Technologies Inc., through its
subsidiaries, is a global provider of Israeli-based agriculture
technology, providing water irrigation solutions to agricultural
producers. Water Ways Technologies competes in the global
irrigation water systems market with a focus on developing
solutions with commercial applications in the micro and precision
irrigation segments of the overall market. At present, Water Ways
Technologies' main revenue streams are derived from the following
business units: (i) Projects Business Unit; and (ii) Component and
Equipment Sales Unit. Water Ways Technologies is capitalizing on
the opportunities presented by micro and smart irrigation, while
also making a positive mark on society by making these technologies
more widely available, especially in developing markets such as
Africa and Latin America and developed markets such as China and
Canada. Water Ways Technologies irrigation projects include
vineyards, Cotton fields, Apple and Orange orchards, Blueberry,
Medical Cannabis growers, fresh produce cooling rooms and more, in
over fifteen countries.
For more information, please contact
Ronnie
Jaegermann |
Dor Sneh |
Dr. Eva
Reuter |
Director |
CFO |
Investor Relations - Germany |
T: +972-54-4202054 |
T: +972-54-6512500 |
+49 69 1532 5857 |
E: ronnie@waterwt.com |
E: dor@irri-altal.com |
E: e.reuter@dr-reuter.eu |
https://www.water-ways-technologies.com/https://www.hg-wwt.com/Twitter:
@WaterWaysTechn1
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking
StatementsCertain statements contained in this press
release constitute "forward-looking information" as such term is
defined in applicable Canadian securities legislation. The words
"may", "would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions as they relate to Water Ways. All statements
other than statements of historical fact may be forward-looking
information. Such statements reflect Water Ways' current views and
intentions with respect to future events, and current information
available to Water Ways, and are subject to certain risks,
uncertainties and assumptions. Material factors or assumptions were
applied in providing forward-looking information. Many factors
could cause the actual results, performance or achievements that
may be expressed or implied by such forward-looking information to
vary from those described herein should one or more of these risks
or uncertainties materialize. Should any factor affect Water Ways
in an unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, Water Ways does
not assume responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and Water Ways undertakes no obligation to publicly update
or revise any forward-looking information, other than as required
by applicable law. Water Ways' results and forward-looking
information and calculations may be affected by fluctuations in
exchange rates and its own share prices. All figures are in
Canadian dollars unless otherwise indicated.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1e958440-d382-4ba4-b6d6-f7015f603409
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