Denver, CO, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc’s (OTC Pink: UATG) subsidiary, H2O Processing, announced today that it has finalized an agreement with a Texas based distributor to provide H2O Processing’s proprietary mobile water treatment systems for use in the oil, gas and mining industries. The agreement outlines the delivery of a minimum of three units in year one, valued at an estimated $7.6 million. The purchase and distribution contract will automatically renew every year, with no limits placed on how many units can be provided to the reseller annually.
H2O Processing Chief Executive Officer, Stan Abrams stated: ” Our distributor brings over 30 years of experience in the oil industry with many longstanding relationships. In the past couple of years, the oil industry has been moving to a new environmental position that cleans up the discharge, treats drill water for reuse, safe removal and disposal of any contaminant remnants within water and production of clean water. In addition, the industry is trying to be more conservative in its use of water in the drilling process. H2O has developed systems to support these objectives.”
H2O Processing is a manufacturing, research and engineering company, with extensive experience in water treatment industry. With an expanding portfolio of intellectual property, the H2O team has just recently begun its expansion as a full-provider and manufacturer of mobile on-site and fixed commercial water treatment platforms.
H2O Processing’s mobile water treatment platform concluded field testing within Oklahoma and has been awarded the only state-wide permit in all 77 counties, to treat deleterious water to non-deleterious water. The mobile platforms are fully automated and can be managed remotely by either H2O Processing from their headquarters in Denver or managed by the customer's onsite team. The mobile platform is ready for commercial production and is now being delivered into the market.
Chairman of H2O Processing parent company, UAT Group, Alex Umbra commented, “This distribution contract signals the H2O Processing’s entrance into a highly specialized space that is not only relevant to the current environmental climate but delivers a paradigm shift in water treatment technology that until now has not been available. This technology will benefit the environment as well as make it more cost-effective to do so by reducing operational costs. This is something I am especially proud of”.
For more information about H2O Processing, Inc. visit: https://h2oprocessing.com/
For more information, visit www.uatgroup.com
Investor and Media Contact: UAT Group at info@uatgroup.com
About H2O Processing, Inc.
The company is located in Denver, CO and is an advanced water treatment technology company.
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Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and/or a secondary listing as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of H2O Processing including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. H2O Processing does not assume the obligation to update any forward-looking statement, except as required by applicable law.
