Itonis, Inc. to Acquire Paramount Discoveries
Itonis, Inc. (PINKSHEETS: ITNS) announced yesterday that they have acquired Paramount Discoveries, Inc., a scientific research company that has developed a proprietary technology that can stimulate magnetism in several common natural elements and minerals.
Paramount's Electro-Magnetic Frequency Technology (EMFT) gives the company the possibility to magnetize sodium chloride, which could bring about the ability to remove salt from water. If Paramount and Itonis could further develop this ability it could open up new areas of revenue.
Over 97 percent of the Earth's water -- seawater and brackish groundwater -- is too salty to use for drinking water or agriculture. Interest in desalination has grown in the U.S. as some regions face water shortages and contention over existing freshwater supplies. The desalination market 2005 - 2015 will generate expenditure in the region of $95 billion, of which around $48 billion will be derived from new capacity, according to waterindustry.org. Freedonia Group expects world demand for water desalination products and services will grow 9.3 percent annually through 2015.
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