PSI releases new cooling tower system
Factory Mutual (FM) is an independent testing agency recognized worldwide by the insurance industry for approval of products that meet certain fire prevention criteria without the use of an external fire protection system. After several years of development, PSI believes that this design will revolutionize the power, commercial, municipal, and light industrial markets due to its unique design and cost affective attributes to its customers.
Commenting on the FM approval, George Kast, President and CEO stated, "We are pleased to be able to offer to our cooling system customers, our proprietary and environmentally friendly fiberglass FM approved tower. We believe this cooling tower design will result in cost savings to them by eliminating the need for a traditional fire protection system. Additionally, the fiberglass design offers a 30-year life span which is considerably longer than traditional structural material used in cooling water systems. We believe this will give us a competitive advantage in this market place, provide our customers with a valuable and cost effective alternative to expensive fire protection systems, and will result in additional revenues and profits for our shareholders."
About Global Water Technologies
Global Water Technologies, Inc.'s global strategy is to invest in and develop business opportunities in the world's largest industry – WATER. In support of this strategy, GWT has three synergistic subsidiaries that represent this strategy and business. The first wholly owned subsidiary, Psychrometric Systems, Inc. (PSI), provides process cooling water primarily through the design, engineering and project management of water cooling towers to power plants, process and manufacturing clients worldwide. Applied Water Technologies, Inc. (AWT) another subsidiary of GWT, provides our customers with proprietary environmentally-sound water treatment systems and services which are designed to meet the growing need for cooling water treatment and re-use worldwide. Global Water Services, Inc. (GWS), another wholly owned subsidiary of GWT, provides total cooling water solutions and service programs to our customer base, including cooling water systems and water treatment services. Global Water Technologies, Inc. trades on the over-the-counter bulletin board under the symbol "GWTRD".
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive and other factors, including, among other things, the size and timing of customer orders, changes in laws, new or increased competition, delays in new products, production problems, changes in market demand, market acceptance of new products, seasonal in product purchases, and changes in foreign exchange rates. These factors, and other factors, which could materially affect the Company and its operations are included in the Company's filings with the Securities and Exchange Commission and are incorporated herein.
For more information:
Please refer to www.gwtr.com or contact:
Investor Relations
Global Water Technologies, Inc.
Phone: 303/215-5117
Fax: 303/215-0595
Source: Global Water Technologies
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