Empire Water Completes Purchase of Treatment System
01 Julho 2008 - 12:50PM
PR Newswire (US)
LAKE FOREST, Calif., July 1 /PRNewswire-FirstCall/ -- Empire Water
(OTC:EWCR) (BULLETIN BOARD: EWCR) announced today that it has
completed the payment for the December 2007 purchase of a 1.25
million gallons per day nitrate removal system from Basin Water Inc
(NASDAQ:BWTR). Under the terms of the purchase agreement dated Dec
21, 2007, Empire Water made a deposit on the system with the
balance due June 30, 2008. Empire Water plans to utilize the system
in Riverside County, California to treat water which is high in
nitrates. Once the nitrate level is lowered, the water will be
available for sale to the drinking water market. Southern
California is presently experiencing an unprecedented drought which
has forced cutbacks in supply and large rate increases. By treating
local sources of groundwater which are presently unusable for
drinking water due to high nitrate levels, Empire Water is
essentially creating new sources of water supply from otherwise
stranded resources. Approximately 60% of the water used in Southern
California is imported from over 500 miles away. Electricity used
to move water around the state presently accounts for 19% of all
power used in California. Production of local groundwater reduces
the amount of electricity required by 80% for the same volume of
water. "During a period of decreasing water supply and increasing
energy costs, we believe that treating local water resources is an
ideal solution and a first step towards sustainability in the
region," commented CEO, Peter Jensen. About Empire Water Empire
Water owns, develops and distributes water to municipal customers.
It is based in Riverside County, California and owns the assets of
the West Riverside Canal Company. Forward Looking Statements This
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements, including expectations relating to future
revenues and income, the company's ability to gain new business and
control costs, involve risks and uncertainties, as well as
assumptions that, if they prove incorrect or never materialize,
could cause the results of the company to differ materially from
those expressed or implied by such forward-looking statements.
Actual results may differ materially from these expectations due to
various risks and uncertainties, including: the company's limited
operating history, significant fluctuations in its revenues from
period to period, its ability to effectively manage its growth, the
success of the company's strategic partners, its long sales cycles,
the geographic concentration of its operations and customers,
changes in governmental regulation that may affect the water
industry, particularly with respect to environmental laws, the
company's ability to attract and retain qualified personnel and
management members, the company's ability to manage its capital to
meet future liquidity needs, changes in the Company's management
and board of directors. More detailed information about these risks
and uncertainties are contained in the company's filings with the
Securities and Exchange Commission, including the company's Annual
Report on Form 10-K for the year ended December 31, 2007 and
subsequent Quarterly Reports on Form 10-Q. The company assumes no
obligation to update these forward-looking statements to reflect
any change in future events. DATASOURCE: Empire Water, Inc.
CONTACT: Peter Jensen, Chief Executive Officer of Empire Water,
Inc., +1-619-224-8400 Web site: http://www.empirewater.com/
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