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Thursday, 06/20/2024 10:49:26 AM

Thursday, June 20, 2024 10:49:26 AM

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Forward Water Technologies Announces Commercial Update

Forward Water Technologies Corp.
Fri, May 31, 2024

TORONTO, ON / ACCESSWIRE / May 31, 2024 / Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces today a commercial update based on enquiries received since its press release of March 20, 2024. With respect to the opportunities currently being pursued by Forward Water to develop direct lithium extraction projects, the Company estimates that should commercial scale plants be built incorporating FWTC's process technology, each plant could represent approximately US$25 million of revenue to FWTC. This estimate is based on information and specifications provided by an array of parties that have engaged with FWTC to date. Revenue from each plant would be recognized over approximately 36 months but exact amounts and timelines will vary.

FWTC also continues to purse multiple industrial wastewater opportunities with its marketing partners. The applications of FWTC's technology process vary by customer and application but preliminary engineering work to date suggests that each opportunity could represent US$2-6 million of revenue to FWTC should they proceed.

It should be noted that this information is not to be construed as a forecast and none of these projects may advance to commercial contracts.

About Forward Water Technologies Corp.

Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Industrial Forward Osmosis (iFO™) technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology enables the extraction of clean water from challenging process and waste streams that conventional technologies can not be operated on. Due to its high-water extraction ability, iFO™ is used in DLE processes for the hyper-concentrating of lithium prior to conversion. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors.

For more information, please visit www.forwardwater.com.

Contact Information
For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
519-333-5888

Neither the 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 news release.

https://finance.yahoo.com/news/forward-water-technologies-announces-commercial-122500900.html
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