Global Water Technologies announces acquisition plans New platforms expand opportunities in emerging smart water sector
INDIANAPOLIS, Oct. 21, 2013 /PRNewswire/ -- Global Water Technologies (OTC Pink: GWTR) announces plans to expand its opportunities in the emerging smart water sector with the addition of two new acquisitions.
The first addition is an innovative Software-as-a-Service (SaaS) platform to provide better data to utility customers on usage analytics. GreenSuite helps users track their consumption, make plans to improve efficiency, learn more about sustainability and earn rewards for such activities. The software can also be used as a demand-side tool for utilities.
"We were impressed with this forward-thinking and very scalable approach to engage utility customers and are looking forward to implementing GreenSuite software with innovative water utilities," said Erik Hromadka, CEO of Global Water Technologies, noting the addition of software development is an important step for the company.
A second acquisition brings expertise and new technologies in the water infrastructure sector, where the company has focused on its "People + Pipes + Policy" approach to reducing water loss. WASIR is a consulting group focusing on innovative resources for both drinking and wastewater systems.
Growing national attention to water issues is creating interest among community leaders and investors who recognize the future potential for "smart water" solutions. Those interested in participating in these new efforts should contact the company for more information.
GreenSuite is qualified for Indiana's Venture Capital Investment Tax Credit that is designed to encourage investment in fast-growing, early-stage companies.
Global Water Technologies structured the acquisitions as all-stock transactions and reserved shares for future issuance to be determined based on milestones reached by the subsidiaries at the end of 2014. As a result of the transactions, the number of issued and outstanding shares of Global Water Technologies as of October 21, 2013 is 16,318,605.
More information about GreenSuite is available at: www.mygreensuite.com
More information about Global Water Technologies is available at: www.gwtr.com
FORWARD-LOOKING STATEMENT: Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
SOURCE Global Water Technologies