TAMPA, Fla., Oct. 11, 2017 /PRNewswire/ -- AquaVenture Holdings Limited (NYSE: WAAS) ("AquaVenture" or the "Company"), a leader in Water-as-a-ServiceTM ("WAASTM") solutions, today provided an update on its Caribbean operations following Hurricanes Irma and Maria.
Doug Brown, AquaVenture's Chairman and Chief Executive Officer, said: "I am proud of the vital role AquaVenture is playing in supporting the islands impacted by the recent hurricanes. All of our employees are safe and continue to work tirelessly servicing the areas that need help the most during these difficult times. Today, we are taking the opportunity to provide an additional update nearly one month after Hurricanes Irma and Maria. We are very pleased that all of our plants are operating, except for one very small plant in the USVI, which is waiting for power from the local utility. In addition, all of the islands where we have operations are delivering clean water to their populations, a role we are actively contributing to. Our facilities incurred minimal damage from the hurricanes and, as a result, the expenditures related to the plant repairs are not anticipated to be material. As of today, our facilities in operation are filling tanks and producing water for delivery, meeting current demand and, in some cases, exceeding pre-hurricane production volumes.
"These events have not caused us to deviate from our strategic objectives. We remain focused on executing our organic growth plan for both Seven Seas and Quench and also continuing to make progress on our M&A pipelines. We look forward to providing a financial update on both the storm's impact and our M&A development activities on our third quarter earnings call in early November.
"Our team continues to work closely with our partners on the islands, relief organizations and local communities to help the islands rebuild as quickly as possible. I'd like to thank all of our employees for their commitment and execution under these challenging circumstances."
AquaVenture is a multinational provider of WAAS™ solutions that provide customers a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer. AquaVenture is composed of two operating platforms: Quench, a U.S.-based provider of Point-of-Use, or POU, filtered water systems and related services to approximately 40,000 institutional and commercial customers; and Seven Seas Water, a multinational provider of desalination and wastewater treatment solutions, providing 8 billion gallons of potable, high purity industrial grade and ultra-pure water per year to governmental, municipal, industrial and hospitality customers.
Safe Harbor Statement
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to AquaVenture's strategic focus; and the impacts of the recent hurricanes on its operations, operating results, capital expenditures and cash, constitute forward-looking statements. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors detailed in AquaVenture's filings with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, AquaVenture's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. AquaVenture is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE AquaVenture Holdings Limited