WPUR Announces EV Charging Contract

Rhea-AI Summary

WaterPure International (OTC Pink: WPUR) announced an agreement to provide electric vehicle charging solutions in Sub-Sahara Africa, with details pending client announcement. This follows WPUR's plans to expand into the electric utilities market alongside its existing water operations. The global renewable water market is expected to grow from $263 billion in 2020 to $500 billion by 2028. WPUR aims to enhance water delivery technologies and is also pursuing a strategic acquisition in water technology and an innovative off-grid EV charging solution.

Positive

• Agreement for electric vehicle charging in Sub-Sahara Africa may enhance revenue prospects.
• Market for electric vehicle charging expected to grow from $10 billion in 2020 to $27 billion by 2027.
• Plans to enter electric utilities market alongside existing water operations aligns with market demands.
• Strategic water technology acquisition anticipated by year-end could strengthen market position.

Negative

• None.

Dallas, Texas, Nov. 12, 2021 (GLOBE NEWSWIRE) -- WaterPure International, Inc. (OTC Pink: WPUR) today announced entering into an agreement to provide an electric vehicle charging solution for a special purpose electric vehicle operation in Sub-Sahara Africa.  Details of the agreement are confidential pending an anticipated announcement by WPUR’s client with details about the special purpose electric vehicle operation.  The special purpose electric vehicle operation is expected to launch next year.

WPUR recently revealed plans to add the electric utilities market with a focus on electric vehicle charging to its current water utilities operations.

WPUR has recently updated its decade old clean water operations and has already begun to trial new water delivery efficiencies and technologies in developing economic markets to be subsequently scaled for all global markets.

Water scarcity today impacts over 3 billion people and by 2050 is expected to impact 5 billion.

The overall renewable water market was valued at an estimated value of over $263 billion in 2020 anticipated to grow to $500 billion by 2028.

Electric utilities, particularly in developing economic regions, are also struggling with power shortages similar to the water scarcity issues.  Too much of the global power supply comes from coal and the transition to electric powered vehicles (EVs) is anticipated to double demand for electricity.

In addition to its approach to water utilities, WPUR now plans to also begin trialing new electricity generation and delivery efficiencies and technologies in developing economic markets to also be subsequently scaled for all global markets.

WPUR recently announced the company is on track to make a strategic water technology acquisition prior to the end of this year, 2021.

WPUR also recently confirmed the company is in negotiations to acquire an innovative, off grid, EV charging technology solution. 

The market for water technology products and services purchased by water utility companies is over $64 billion expected to reach $83 billion by 2023.

The global electric utilities industry currently generates over $4 trillion in annual revenue without providing adequate electricity globally.

The global electric vehicle charging market was valued at $10 billion in 2020 expected to grow to $27 billion by 2027.

Look for more details coming soon on the pending water technology acquisition and the off-grid EV charging solution acquisition negotiations.

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Contact:
Sean Mathis
info@wpurinc.com
972-918-5256

FAQ

What is the significance of WPUR's electric vehicle charging agreement?

WPUR's electric vehicle charging agreement in Sub-Sahara Africa is significant as it expands the company's market presence and potential revenue streams.

How is WPUR expanding its services?

WPUR is expanding its services by entering the electric utilities market and enhancing its water delivery technologies.

What are the market projections for the electric vehicle charging sector?

The electric vehicle charging market is projected to grow from $10 billion in 2020 to $27 billion by 2027.

What updates did WPUR provide regarding its water technology operations?

WPUR announced that it is updating its clean water operations and trialing new water delivery technologies in developing markets.

When is WPUR expected to complete its water technology acquisition?

WPUR expects to complete its strategic water technology acquisition by the end of 2021.