TORONTO, April 26, 2021 (GLOBE NEWSWIRE) — Water Ways Technologies Inc. (TSXV: WWT) (“Water Ways” or the “Company“), is pleased to announce that the CAD $330,000 strawberry irrigation project in Ethiopia (previously announced on March 18, 2021) has expanded to a value of approximately CAD$470,000. The strawberry irrigation project covers an area of 20 hectares of greenhouses, using Israeli drip irrigation technology. Water Ways signed the agreements with a wholly owned subsidiary of Midroc Ethiopia Investment Group, one of the largest investment companies operating in Ethiopia following successful implementation of projects previously signed with the group in 2020 (See press release dated September 9, 2020). The expansion uses advanced Israeli technology of water delivery system, from Lake Tana, the largest lake in Ethiopia and the source of the Blue Nile, to the project.
Ohad Haber, Chairman and Chief Executive Officer, commented: “We continue to see strong orders coming from Ethiopia. This proves that our strategy of focusing on higher value crops such as strawberries, blueberries and Cannabis is starting to gain acceptance.”
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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