SPOKANE, Wash. — Ambient Water has reached an exclusive licensing agreement that grants Pacific AirWell “exclusive rights to use, market and sell Ambient Water’s current and future atmospheric water generation systems within the state of California,” according to a press release.
The agreement requires Pacific AirWell to purchase at least $1 million worth of Ambient Water products for sale within the first year, noted the release. A 20 percent royalty will go to Ambient Water from all products sold.
Pacific AirWell will purchase a license from Ambient Water for $2 million during the second year, stated the release. During this time Ambient will receive a 25 percent royalty. As long as minimum sales are met, the agreement will continue every year with no added license fees.
“This is a lucrative step forward for Ambient Water, as it generates cash flow and a wider distribution channel, both of which will help as we look to push out technology out on a wider scale,” said Keith White, founder and CEO of Ambient Water, in the release. “There is no better place to start than California, as the state’s well-documented water scarcity issues have only continued to increase, leaving government officials, farmers and residents looking for solutions.”
Ambient Water’s technology transforms humidity into clean water near the point of use, reported the release.
Click here to read the entire release.
