SPOKANE, Wash. — Sept. 8, 2015 — Ambient Water signed a Memorandum of Understanding (MOU) with Penida Capital Advisors Ltd. to give the company exclusive rights to manufacture and sell its AW2500 product in the 10 Association of Southeast Asian Nations (ASEAN) countries, according to a press release.
ASEAN nations include Indonesia, Philippines, Vietnam, Thailand, Malaysia, Singapore, Brunei, Cambodia, Laos and Myanmar, noted the release. Penida Capital Advisors is based in Indonesia.
The AW2500 is Ambient Water’s atmospheric water generation technology for residential customers, reported the release. The system can product up to five gallons of drinking water per day from the air’s humidity.
The MOU allows Penida Capital to sell commercial and industrial Ambient Water products through a special purpose company, stated the release. Ambient Water will own a 30 percent stake in the special purpose company.
"Indonesia has had some well-documented issues with water — notably an inadequate supply and challenges with delivery and cleanliness. These issues have slowed economic growth in under-serviced regions which require a clean and sustainable water solution," said Keith White, Ambient Water founder and CEO, in the release. "Through this agreement with Penida Capital, we will strive to bring a safe water source to homes, business and other areas with bulk water needs throughout the entire ASEAN region, so that everyone will be able to drink without fear of illness."
White also participated in the "SMART CITY in Makassar, Making it Work!" panel at the ASEAN Mayors and Makassar Investment Forum, where he and other business leaders discussed how innovations can improve the city of Makassar, shared the release.
Click here to read the entire release.
