INDIANAPOLIS, Dec. 30, 2013 /PRNewswire/ -- Global Water
Technologies (OTC Pink: GWTR) has released its annual shareholder
letter, discussing recent acquisitions and plans for the coming
year.
Developing opportunities to deploy "smart water solutions" that
improve efficiency in drinking water systems has been a key focus
for the company, according to Erik
Hromadka, CEO of Global Water Technologies.
"We identified this emerging area as a good fit for our small
company to serve as a catalyst for innovation by using sensors and
software to reduce water loss from hidden leaks and damaging water
main breaks," Hromadka said. "We have also added tools to better
engage customers and provide complementary services for
utilities."
Hromadka noted the company is positioned well, as a new report
on smart water networks predicts the global market will grow from
$1.1 billion in annual revenue in
2013 to $3.3 billion in 2022, with
most of the growth in North
America.
Building revenues is a top priority for the company in the
coming year and a great deal of effort has been invested in the
early stages of that process in what is traditionally a slow and
conservative industry.
Global Water Technologies made two acquisitions in 2013;
GreenSuite, a Software-as-a-Service (SaaS) start-up that provides
customer dashboards with better data on usage, an education portal
and rewards for efficiency, and WASIR, a small consulting group
with expertise in underground water infrastructure design and
innovation.
Both GreenSuite and WASIR were acquired in all-stock
transactions that include incentives for revenues recognized in
2014. "We believe this aligns the interests of all parties in
building Global Water Technologies over the next twelve months,"
Hromadka said.
"As we deploy these solutions and grow the business, we welcome
the chance to connect with strategic partners and investors who
recognize the opportunities in this emerging space," he added.
The entire shareholder letter and more information about Global
Water Technologies is available at: www.gwtr.com
FORWARD-LOOKING STATEMENT:
Statements in this press release
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, Inc.
