Current Water Aquaculture Partner Orders Third AmmEl-Aqua Unit

Included in New Equipment Sales Orders Totalling $290,000

Guelph, Ontario, CANADA


GUELPH, Ontario, June 02, 2022 (GLOBE NEWSWIRE) -- Current Water Technologies Inc. (TSX-V: WATR) ("CWTI" or "the Company" or "the Corporation"), an emerging technology leader in the management of industrial and municipal wastewater, receives purchase order for a third AmmEl-Aqua system for the safe transport of marine and fresh water animals (i.e., lobster, snow crab, king crab, salmon, trout) to international markets.

The inaugural trip for this specific AmmEl-Aqua unit will be as an important component of the sophisticated water treatment system required for the safe transport of valuable king crab from an aquaculture facility in Norway to Miami, Florida, USA. As ammonia is the principal metabolic waste product of fish and other aquaculture animals, the innovative AmmEl-Aqua unit will aggressively treat the water during pre-transport conditioning and transportation to prevent accumulation of ammonia to toxic levels, thereby ensuring the delivery of high value, healthy seafood product.

Dr. Shelp said, “To date, the results of ongoing test programs conducted by our partners Ship Nature’s Way/GIS Ventures have been very positive. This third AmmEl-Aqua unit is the first of many commercial units expected to be sold in 2022.”

This innovative water treatment system is being marketed under the trade name, Blue Vita Technologies Inc., which recently received $1.7 million in funding from Canada’s Ocean Supercluster to introduce new technologies for the mobile storage and transport of aquatic animals (Blue Vita – Ocean Perfect; Blue Vita Video; BlueVita Technology Project  - Canada's Ocean Supercluster).

Dr. Shelp added, “The value of the global seafood trade in 2021 was USD 164 billion, many times higher than the beef, pork or poultry trade, and prices for many seafood species are unprecedented due to rising freight and energy costs (Rabobank: Global seafood trade value rebounds to USD 164 billion | SeafoodSource). The demand for sustainable and healthy seafood is expected to drive trade volumes of high value seafood species in the next few years.”

Neither the TSX Venture Exchange Inc. 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. 

About Current Water Technologies Inc.

Current Water Technologies 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. Pumptronics Incorporated operates as a division of the Company and continue to function as an integrated pump station manufacturer specializing in custom design and automation.

The common shares trade on Tier ll of the TSX Venture Exchange under the symbol “WATR”.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Dr. Gene S. Shelp, Ph.D., P.Geo.
President and CEO

Tel: (519) 836-6155
Fax: (519) 836-5683
E-mail: gshelp@currentwatertechnologies.com
Web Site: www.currentwatertechnologies.com

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 Current Water 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. Current Water 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. Current Water undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.