INDIANAPOLIS, IN, Nov. 15, 2010 -- Global Water Technologies Inc. has completed an initial funding transaction to begin research on new methods of ballast water treatment.
"Ballast water treatment and new regulations to control the invasive species that are unintentionally transported by international shipping are important issues for the next decade," said Erik Hromadka, chairman and CEO of Global Water Technologies. "As a small technology company, we can move quickly to identify new solutions and are currently investigating options being developed in Australia and Canada."
Ballast water treatment is of particular concern to state and provincial economies of the Great Lakes, where strict new regulations in 2012 may impact the St. Lawrence Seaway.
Stratton Holdings Inc. (Pink Sheets: STHG) made an initial investment in Global Water to support the research and development of new technologies for ballast water treatment and will also provide professional services from its headquarters in San Jose, California.
"Global Water Technologies is a good fit for our strategy to identify and invest in small public companies that have demonstrated potential for significant growth," said Eric Stratton Racheff, CEO of Stratton Holdings Inc.
Hromadka noted the investment is a validation of Global Water's approach to identify new technologies, create project teams to develop and deploy the most promising opportunities and then build business operations in those areas. "We welcome Stratton Holdings as one of our initial investors in this area and continue to seek such strategic partnerships as we move forward and create value for all our stakeholders."
Additional information is available on the company's web site at: www.gwtr.com.
About Global Water Technologies
Global Water Technologies Inc. (GWTR.PK) is a "clean technology" water treatment and services company that provides innovative non-chemical and filtration technologies. Global Water also builds strategic partnerships to identify, develop and commercialize new technologies to improve water efficiency.