Energy and Water Development Corp. Eliminates All Variable Convertible Debt
Energy and Water Development Corp. (OTC PINK:EAWD) has successfully eliminated all variable convertible debt as of February 1, 2022, marking a significant milestone in its financial strategy. The company paid off the remaining balance on its convertible debt, which previously posed a risk to its stock price. CEO Ralph Hofmeier expressed optimism about future growth, particularly with a revenue-generating project commencing in Grünheide, Germany, near Tesla's Gigafactory. This debt-free status is expected to attract more favorable capital for ongoing business expansion.
- Elimination of all variable convertible debt improves financial stability.
- Commencement of revenue-generating project in Grünheide, Germany, near Tesla's Gigafactory.
- Potential for attracting advantageous capital for growth.
- None.
No Toxic Debt Instruments Remain
ST. PETERSBURG, FL / ACCESSWIRE / February 9, 2022 / Energy and Water Development Corp. (OTC PINK:EAWD) (the "Company"), an engineering company focused on delivering innovative and sustainable solutions of water and energy, is pleased to announce that it has eliminated all variable convertible debt. As of February 1, 2022, the Company has no convertible toxic debt. The most recent convertible debt financing has been completely eliminated as the Company paid off the remaining balance of the note avoiding the holder's ability to convert to equity.
Ralph Hofmeier, Chief Executive Officer of Energy and Water Development Corp., stated,
"While we had to do what we could to access capital over these past year in order to grow our business, we recognize the negative effect certain structures and terms had on our stock price. We are extremely pleased to report that we are now debt free. With our first revenue-producing project in Germany in the city of Grünheide (Mark), just 20 miles east of Berlin's city center, and Tesla's European Gigafactory nearby, we are at a major inflection point for our business and we expect to attract much more advantageous capital to assist our growth to the next level. Our team, partners and customers are very excited for what is ahead for 2022."
Energy and Water Development Corp.
Energy and Water Development Corp. (OTC: EAWD) is an engineering solutions company focused on delivering innovative and sustainable solutions of water and energy. EAWD builds its systems out of proven technologies, using their technical know-how to customize solutions to their clients' needs. The Company offers design, construction, maintenance and specialty consulting services to private companies, government entities and non-government organizations (NGOs).
For additional information, please visit: https://energy-water.com
Forward-Looking Statements:
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target," "intend" and "expect" and similar expressions, as they relate to Energy and Water Development Corp., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
Corporate:
investor.relations@energy-water.com
Investor Relations Contact:
ClearThink
bloper@clearthink.capital
p347-413-4234
SOURCE: Energy & Water Development Corp.
View source version on accesswire.com:
https://www.accesswire.com/687990/Energy-and-Water-Development-Corp-Eliminates-All-Variable-Convertible-Debt
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