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TORONTO, June 01, 2021 (GLOBE NEWSWIRE) — Water Ways Technologies Inc. (TSXV: WWT) (“Water Ways” or the “Company“), is pleased to announce that it received the fifth commercial order, effective May 23, 2021, for its Medical Cannabis Internet of Things (“IOT“) water and control system. The CAD$315,000 order was received from an Israeli Licensed Producer who is currently building a 7,000 Square meters (approximately 75,000 Sq/ft) Medical Cannabis Cultivation facility in of Israel. The system is an IOT controlled Water & Control system for Cannabis cultivators and growers. The Company expects to deliver and install the system by the end of 2021.
The purpose of the IOT system is to increase the yield and consistency for cannabis growers and cultivators while maintaining high quality, as well as reducing energy, water, and fertilization costs. The system was developed in Israel by the Company’s research and development staff of engineers using the Company’s unique experience and knowledge gained in the irrigation and control industry.
The system is comprised of the following components:
- A precise drip irrigation system to maximize the cannabis plants nutritional absorption together with full monitoring and control of the plant water content as well as nutrition availability during the different growing stages.
- A fertilizing system composed of two main components: raw fertilizer tanks and dosing pumps that inject accurate fertilizer formulation into the different compartments of the facility.
- Drainage collection, filtration, and water treatment systems.
- Monitoring and operating all the climate systems include HVAC, Lighting, air circulation, etc.
- An IOT control gateway. An IOT Control Gateway is an integral component of the system which is comprised of an industrial controller and integrated specially developed software to monitor and control various components of the cultivation project. The system allows to control the whole cultivation process by allowing the user to adjust the following features:
- Irrigation, fertilizing & filtration system.
- Climate system monitoring and control.
- Structural systems (benches, darkening & thermal screens, curtains, heating, dehumidification, ventilation, fans, etc.).
The controller and software are connected and synchronized with a local controller or sensors within the facility. The controller gathers data in a local and remote cloud so the cultivation management staff can use this information to track trends, symptoms and correctly manage their facility.
The controller software can be installed on smart phones, PCs, and local controller touch screens, allowing the growers to decide who is permitted to use the controller, and control it over the web remotely.
Ohad Haber, President, CEO and Chairman of the Board of Water Ways, commented: “This is the fifth order of the system in Israel which is a proof of the advantages our technology offers to medical cannabis growers. The system’s first client, Cronos Israel, finished its implementation in 2020. So far, The system has been delivered within Israel and the Company intends to focus its efforts selling it internationally and expand to additional markets and to additional indoor crops.”.
About Water Ways Technologies
Water Ways Technologies Inc., through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. Water Ways Technologies competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, Water Ways Technologies’ main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. Water Ways Technologies is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. Water Ways Technologies irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberries, Medical Cannabis, fresh produce cooling rooms and more, in over 15 countries.
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Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to Water Ways. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Water Ways’ current views and intentions with respect to future events, and current information available to Water Ways, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Water Ways in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Water Ways does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Water Ways undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Water Ways’ results and forward-looking information and calculations may be affected by fluctuations in exchange rates. All figures are in Canadian dollars unless otherwise indicated.
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