FORT WORTH, TX, MAY 6, 2019 -- Water Now, Inc. ("Water Now" or the "Company") (OTC: WTNW) a leading water purification solutions company, has announced the installation of its first HydraSpin Mobile Mobile HS3000 Unit at a salt water disposal well in Oklahoma City, Oklahoma. The technology behind the HydraSpin Mobile HS3000 Unit allows for the separation of residual oil from water contained in the disposal sites, to minimize environmental contamination from the fluids containing oil. The typical HydraSpin performance demonstrates the ability to remove 100 percent of 10-micron oil droplets, while obtaining better quality discharge water.
The Company acquired the US exclusive license for the HydraSpin Hydro Cyclone technology from African Horizon Technologies (Pty) Ltd. ("AHT") based in Johannesburg, South Africa in October 2018. HydraSpin is a water treatment system as well as an oil recovery system.
David King, Chief Executive Officer of Water Now, Inc., commented, "Our first HydraSpin unit was installed in March of 2019, and after running several tests at the site, performed flawlessly, successfully separating and removing oil from the customer's disposal well at a very high separation efficiency. This allowed us to generate meaningful recurring revenues for the first time and will continue to do so on a monthly basis.
"The added benefits to our HydraSpin customers include decreased maintenance costs and downtime, lower capital costs, easy installation, and accessible data 24/7. In addition, the customer is achieving a higher quality of discharged water," continued Mr. King.
The Company expects to receive delivery of five additional HydraSpin units during May 2019. These five units are currently under contract and will undergo testing and be delivered to the field approximately 30-40 days after clearing customs, with installation scheduled to be completed in early Summer 2019.
"Based upon the successful deployment of our initial unit, we fully intend on leveraging the operational results of the HydraSpin unit to expand our presence in the industry. Under our license agreement with AHT, we anticipate receiving an additional eight units throughout the summer. We are already in negotiations with several potential customers for these additional eight units and anticipate contracts shortly," concluded Mr. King.
