January 5, 2023 – Toronto, Ontario – Water Ways Technologies Inc. (TSXV: WWT) (“Water Ways” or the “Company“), is pleased to announce that it has received an order to deliver and install a 274 hectares (677 acres) turnkey Banana irrigation project in the Asian country of Laos. The Company will provide a complete smart irrigation system including drip lines, water treatment, filtration, reservoirs and pumps to a recurring customer. The order was received from an existing customer who is currently expanding his high density Banana plantation in Laos. The total value of the order is approximately CAD$930,000. The Company expects to commence the project during Q2, 2023. Delivery and installation of the system will take place during 2023 and Q1 of 2024 and revenues are expected to be recognized during the installation period.
Ohad Haber, Company’s Chairman and CEO commented: “Before Covid we have been operating and selling irrigation systems in Laos. I’m pleased that post pandemic business is resuming and we are returning to work in Laos.”
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, Blueberry, Medical Cannabis growers, fresh produce cooling rooms and more, in over fifteen countries.
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