TORONTO, ON / ACCESSWIRE / November 3, 2022 / Forward Water Technologies Corp. (“forward water” or the “company“) (TSXV:FWTC) is pleased to announce that it has been awarded the Canadian Food Innovation Network (“CFIN“) booster program.
Forward Water is developing a completely new, food-safe process for cold concentration of food, resulting in up to 10 times the concentration ability compared to thermal-based technologies. This technology, derived from the proprietary forward osmosis process already in use by the Company, is expected to improve the competitiveness of Canada’s food processing ecosystem by producing higher quality end products with reduced greenhouse gas emissions associated with conventional processing. President and CEO, Howie Honeyman, comments, “The ability to cold concentrate liquid food and beverage streams maintains the high quality of the product while intensifying flavor and aroma, there is no secondary waste stream and the process is completed with a fraction of the cost Energy carried out requiring traditional thermal processes. The end result is a superior product that is manufactured at a reduced cost and lowers greenhouse gas emissions. CFIN’s support will allow us to accelerate this development and get to market even faster.”.
The CFIN Food Innovation Challenge aims to support disruptive start-ups in the food service industry that are on the cusp of development and commercialization. The challenge is limited to Canadian-led collaborations and grants will be awarded on the basis of merit.
“This project is a great example of the transformative innovation in Canada’s food sector that often goes unnoticed or underappreciated. We are excited to help Forward Water bring its sustainable cold concentration process technology to market, where it can enhance and improve multiple products to process while reducing energy use.” — Joe Lake, CEO of CFIN
About Forward Water Technologies Corp.
Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the world’s water resources with its patented forward osmosis technology. The company was founded by Green Center Canada, a leading technology innovation center supported by the Canadian government. The company’s technology enables the reduction of challenging waste streams while recycling freshwater for reuse or surface release. The Company’s mission is to focus on the large-scale implementation of its technology in multiple sectors including industrial wastewater, food and beverage concentrates, oil and gas, mining, agriculture and finally the municipal water supply and reuse market sectors. For more information, please visit www.forwardwater.com.
About the Canadian Food Innovation Network:
The Canadian Food Innovation Network (CFIN) is a national non-profit, membership-based organization that fosters transformative and transferrable innovation across Canada’s food sector. We connect Canada’s food ecosystem with fresh insights, ideas and technology to improve your business and increase your ability to innovate. You can become a CFIN member (for free!) in less than five minutes.
To learn more about CFIN, please visit www.cfin-rcia.ca.
Mr. Howie Honeyman, Ph.D., President and Chief Executive Officer
Forward Water Technologies Corp.
Phone: (519) 333-5888
For more information please contact:
Certain statements in this press release constitute “forward-looking information” as that term is used under applicable Canadian securities laws. Forward-looking information is based on management’s plans, expectations and estimates at the time the information is made and is subject to certain factors and assumptions, including the ability to scale the technology and the adoption of the technology by potential customers.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to differ materially from those projected in such forward-looking information. Risks and other factors that could cause results to differ materially from those projected in the forward-looking statements include, among others: unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required regulatory approvals; stock market volatility and other risks and uncertainties applicable to the Company as described in the Company’s ongoing disclosure documents, which are filed under the Company’s profile at www.sedar.com. The Company assumes no obligation to update these forward-looking statements, except as required by applicable law.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that could cause results not to be as anticipated, estimated or intended to fail. Accordingly, readers should not place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Forward Water Technologies Corp.
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