INDIANAPOLIS, Dec. 30, 2013 /PRNewswire/ -- Global Water Technologies (OTC Pink: GWTR) has released its annual shareholder letter, discussing recent acquisitions and plans for the coming year.
Developing opportunities to deploy "smart water solutions" that improve efficiency in drinking water systems has been a key focus for the company, according to Erik Hromadka, CEO of Global Water Technologies.
"We identified this emerging area as a good fit for our small company to serve as a catalyst for innovation by using sensors and software to reduce water loss from hidden leaks and damaging water main breaks," Hromadka said. "We have also added tools to better engage customers and provide complementary services for utilities."
Hromadka noted the company is positioned well, as a new report on smart water networks predicts the global market will grow from $1.1 billion in annual revenue in 2013 to $3.3 billion in 2022, with most of the growth in North America.
Building revenues is a top priority for the company in the coming year and a great deal of effort has been invested in the early stages of that process in what is traditionally a slow and conservative industry.
Global Water Technologies made two acquisitions in 2013; GreenSuite, a Software-as-a-Service (SaaS) start-up that provides customer dashboards with better data on usage, an education portal and rewards for efficiency, and WASIR, a small consulting group with expertise in underground water infrastructure design and innovation.
Both GreenSuite and WASIR were acquired in all-stock transactions that include incentives for revenues recognized in 2014. "We believe this aligns the interests of all parties in building Global Water Technologies over the next twelve months," Hromadka said.
"As we deploy these solutions and grow the business, we welcome the chance to connect with strategic partners and investors who recognize the opportunities in this emerging space," he added.
The entire shareholder letter and 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, Inc.