Multi-million-dollar exclusive licensing agreement to benefit CA water industries
Ambient Water has officially announced an exclusive licensing agreement with Pacific AirWell for sale of its commercial atmospheric water generation technology.
SPOKANE, WA, June 4, 2015 -- Ambient Water (AWGI), a provider of atmospheric water generation systems for extracting water from humidity in the air, has officially announced an exclusive licensing agreement with Pacific AirWell, Inc. (PA), a California corporation, for sale of its commercial atmospheric water generation technology. The agreement grants PA exclusive rights to use, market and sell AWGI's current and future generation systems within the state of California, subject to sales and royalty requirements.
Under the terms of the agreement, PA will purchase a minimum of $1 million worth of AWGI's technologies for sale within California during the first year. AWGI will receive a 20-percent royalty on all units sold. During the agreement's second year, PA will purchase a license from AWGI for $2 million, which will then receive a 25-percent royalty on all units sold. The agreement will continue year-to-year with no additional license fees as long as minimum sales are met.
AWGI'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 & gas and agriculture, while also providing fresh drinking water for homes, offices and communities.
About Ambient Water
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 more information, visit www.AmbientWater.com.