Ambient Water signs MOU with Penida Capital for Indonesian installment
Ambient Water has announced the signing of a Memorandum of Understanding with Penida Capital Advisors, an Indonesian corporation, for exclusive rights to manufacture and sell its AW2500 system within the 10-member economies of ASEAN.
SPOKANE, WA, Sept. 10, 2015 -- Ambient Water (AW), a provider of atmospheric water generation systems for extracting water from humidity in the air, has signed a Memorandum of Understanding (MOU) with Penida Capital Advisors Ltd. (PC), an Indonesian corporation, for exclusive rights to manufacture and sell its AW2500 system within the 10-member economies of ASEAN (Association of Southeast Asian Nations).
The MOU will allow PC, through a Special Purpose Company, to establish an exclusive manufacturing license in the ASEAN region for the AW2500, AW's residential model of its atmospheric water generation technology, which can produce up to five gallons of drinkable water per day from the humidity that exists in the air.
Additionally, PC, through a special purpose company, will sell AW's commercial and industrial units such as the flagship AW400. The commercial and industrial units can produce anywhere from hundreds to thousands of gallons of water per day, making them an ideal solution to bulk water needs.
AW'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 and gas exploration and farming, while also providing fresh drinking water for homes, offices and communities.
Members of ASEAN's 620-million population region include Indonesia, Philippines, Vietnam, Thailand, Malaysia, Singapore, Brunei, Cambodia, Laos, and Myanmar. Both companies signed the MOU publically on Tuesday, Sept. 8, at the ASEAN Mayors and Makassar Investment Forum in Indonesia. Likewise, the document contemplates that AW will own a 30-percent equity stake in the Special Purpose Company. It is non-binding and contemplates the preparation and execution of definitive agreements.
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.