Spokane, WA -- (ReleaseWire) -- 08/17/2016 --Ambient Water (OTCQB:AWGI), a leading innovator of atmospheric water generation systems for extracting water from humidity in the air, today announced the signing of two separate Memorandums of Understanding (MOU), which outline the collective intent to enter into a definitive agreement within the next 30 days for the exclusive sale of the Company's atmospheric water generators within the Dominican Republic and the city of Monterrey, Mexico.
The first MOU states that Gestion Tecnologica ("GTEC") and its president, Mr. David Fermin, will have exclusive rights to sell and market Ambient Water's atmospheric water generators in the Dominican Republic and Haiti. Exclusivity will be subject to and granted following the execution of a definitive agreement and payment for the initial stocking order of Ambient Water's residential and commercial units. We anticipate that the agreement will have an initial term of three years with an option for annual renewal based on annual sales quotas. The MOU is a non-binding expression of intent to enter into a formal contractual relationship.
The second MOU states that ITSARI SAS, Mr. Miguel Angel Garza Moya ("ITSARI") will have exclusive rights to sell and market Ambient Water's atmospheric water generators in the city of Monterrey, Mexico. The agreement also grants non-exclusive rights to sell and market Ambient Water's atmospheric water generators throughout the rest of Mexico. Exclusivity will be subject to and granted following the execution of a definitive agreement and payment for the initial stocking order of Ambient Water's residential and commercial units. We anticipate that the agreement will have an initial term of three years with an option for annual renewal based on annual sales quotas. The MOU is a non-binding expression of intent to enter into a formal contractual relationship.
The MOUs enable GTEC and ITSARI to establish a sales, distribution, and marketing cycle in the Dominican Republic and Mexico, respectively, for the AW2500, Ambient Water's residential model of its atmospheric water generation technology, which can produce up to five gallons of drinkable water per day from the humidity that exists in the air. Additionally, both GTEC and Moya will sell Ambient Water's commercial products, capable of producing several hundred gallons of water per day, making them an ideal solution for bulk water needs.
"We are pleased to sign these MOUs with GTEC and ITSARI and to continue to expand the reach of our atmospheric water generators throughout regions that are being decimated by drought," said Keith White, Founder and CEO of Ambient Water. "The drought in Mexico is one of the worst in its history, paralleling the water scarcity struggles felt by its neighbor to the north, the United States, while the drought ravaging the Caribbean continues to have great impact on the Dominican Republic. These agreements will enable us to broaden the distribution of our technology and increase sales, while putting our technology into the hands of those that need it most."
Ambient Water's patented atmospheric water generation technology literally makes water out of thin air, transforming humidity into an abundant source of clean water near the point of use. With multiple systems already commercially available or in development, the Company's technology produces clean and fresh water for a host of commercial industries, including oil and gas exploration and farming, while also providing fresh drinking water for homes, offices, and communities.
About Ambient Water Corp.
Ambient Water pioneered atmospheric water generation technology for extracting water from humidity in the air. Drawing from the renewable ocean of water vapor in the air that we breathe, the Company's patented technology cost-effectively transforms humidity into an abundant source of clean water near the point of use. The scalable and modular systems can be configured for a number of water-sensitive applications ranging from oil and gas exploration to vertical farming. The systems can also be configured to produce high quality drinking water for homes, offices, and communities. For a thirsty planet on the verge of a water crisis, Ambient Water makes clean water out of thin air.
To learn more about Ambient Water, visit our website at http://www.AmbientWater.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently and other factors detailed in reports filed by the Company.
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Source: Uptick Newswire