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TORONTO, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Water Ways Technologies Inc. (TSXV: WWT) ("Water Ways" or the "Company"), is pleased to announce that it received an order for a water supply system for delivering water to one of Ethiopia's gold mines. The Water supply system, with a value of CAD$325,000, supplies water to the Meli Gold mine in Northern Ethiopia, using a unique pumping system from available wells.
Water Ways expects to recognize revenue from this Project in the last quarter of 2020. The order and project are backed by an Irrevocable Letter of Credit at sight.
Ohad Haber, Chairman and Chief Executive Officer, commented, "Our business in Ethiopia is really expanding and we are pleased that our previous projections regarding sales in Ethiopia will be met as this new contract with all the existing contracts for the supply to Ethiopia, for the period commencing January 2020, are in excess of CAD $1 Million."
About Water Ways Technologies
Water 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, Blueberries and Medical Cannabis producers, fresh produce cooling rooms and more, in over 15 countries.
For more information, please contact
Ronnie Jaegermann
Director
T: +972-54-4202054
https://www.water-ways-technologies.com/
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Forward-Looking Statements
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