INDIANAPOLIS, July 12, 2012 /PRNewswire/ -- Global Water
Technologies (OTC Pink: GWTR) is pleased to announce that its new
partnership with Martinek Water Management, GmbH, is moving forward
with efforts to set up a pilot project in the United States to provide real-time
monitoring of leak conditions and reduce loss in drinking water
systems.
"Current drought conditions have raised awareness about the
critical need to use water more efficiently. We reviewed the
technology here in Indianapolis
this week and understand how it has been deployed in countries
across Europe," said CEO
Erik Hromadka. "We have begun
efforts to demonstrate this unique system in a pilot project that
we hope to launch in the second half of this year and are pleased
to add independent contractors as team members for that
effort."
- Randy Marra will serve as
program manager for the pilot project. Marra has more than 25 years
of experience addressing underground utilities as the owner of a
civil contracting company in Indianapolis.
- Tom Marendt will assist with
business and community development. Marendt is a former elected
official in Indiana and has also
worked in local and state government.
- Doyle Groves will serve as a
senior data scientist to provide analysis of water system
metrics. Groves specializes in predictive modeling from vary
large data sets using computational intelligence techniques.
The patented technology provides a real-time monitoring solution
that measures pressure, flow and noise conditions in water mains
and uses proprietary software to analyze changes in leak
conditions. In addition, Global Water intends to begin development
work on software analytics that may allow predictive modeling of
such metrics for use in an early warning system for water main
breaks.
Global Water Technologies has issued shares of its common stock
to secure the new partnership, additional staffing resources,
reduce payables and convert a portion of its long-term debt. As a
result, the current number of outstanding shares will increase to
10,736,105. The company is also continuing to seek funding and
development partners to launch the pilot system of the new
technology in the U.S. market.
More information about Global Water Technologies is available
at: www.gwtr.com
FORWARD-LOOKING STATEMENT:
Statements relating to plans, strategies, economic performance
and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of
historical facts may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking information is
inherently subject to risks and uncertainties, and actual results
could differ materially from those currently anticipated due to a
number of factors, which include, but are not limited to, risk
factors inherent in doing business. Forward-looking statements may
be identified by terms such as "may," "will," "should," "could,"
"expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "forecasts," "potential," or "continue,"
or similar terms or the negative of these terms. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. The company has no
obligation to update these forward-looking statements.
SOURCE Global Water Technologies