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Global Water Technologies Files Patent Application for On Site Sulfuric Acid Generation Process
Monday, August 11, 2008
Denver, CO -- Global Water Technologies, Inc., ("GWT") a technology driven water purification and services provider to the $400 billion water industry, announced that it had filed a provisional patent application for its newly developed Sulfuric acid generation process.
Sulfuric acid is the world's most widely used chemical and has seen a substantial increase in demand and cost over the past 24 months. The rise in Sulfuric acid costs is primarily due to greater worldwide use by multiple industries, including agriculture, steel, mining, refining, and water treatment. Sixty percent of Sulfuric acid production is used for making fertilizers, which has seen a spike due to increased crop production, some of which is being consumed for Ethanol.
The Company has successfully demonstrated the technology and process in its facilities and is now moving toward various field demonstrations and commercial applications.
George Kast, CEO stated, "This is potentially one of our most significant technology developments and market opportunities to date. The rising cost of Sulfuric Acid coupled with the increased cost of transportation, presents a unique opportunity for our technology in this vast market. We plan to market the technology through various channels, including direct service contracts for the supply of acid, licensing to various industries and countries, as well as utilization in our own water treatment facilities. The net result is that we can generate H2S04 on site at a substantial savings to the current spot market price and do so without the risks and costs associated with transporting bulk liquid acid. We are seeking financial and strategic partners to assist with capitalizing on this tremendous market opportunity."
About Global Water Technologies
Global Water Technologies, Inc. (Pink Sheets: GWTR) is a "CleanTech" water treatment and services company with "clearly" innovative technologies, focused on the energy, power, oil and gas, process, HVAC and municipal markets. The company utilizes its proprietary technologies and services programs to increase operating efficiencies and reduce water usage through comprehensive water management solutions. GWT has an established client base of over 500 customers in more than 25 countries worldwide. GWT's products treat over 10 billion gallons of water per day.
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.
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