Rainmaker Worldwide Announces Multi-Million Dollar Joint Solar Water Venture in the Bahamas and Contract for 50 Solar Capable...
July 27 2020 - 9:10AM
via NEWMEDIAWIRE – Rainmaker Worldwide Inc.
(OTC: RAKR) is working aggressively to position itself to be a
leader in the multi-trillion-dollar global Water-as-a-Service
(WaaS) industry. The partnership will produce and distribute
bottled water using Rainmaker’s Solar Air-to-Water machines and is
estimated to produce up to an annual 27 million USD in revenue when
all required 50 machines are deployed.
Since August 2019, The Bahamas has endured the devastating
aftermath of Dorian – the Category 5 Hurricane that swept across
the Atlantic. Dorian hit Grand Bahama, The Bahamas largest island,
with 297 kilometer-per-hour winds and a 9-meter storm surge that
caused overwhelming destruction. Saltwater overflowed Grand
Bahama’s drinking wells that nearly 55,000 residents depend upon. A
March 9th article issued by Miami’s WLRN explains that three of the
four water treatment plants on Grand Bahama went underwater, one of
which supplied fresh water to 60 percent of the island. Six months
after the hurricane, their tap water was still salty, far worse
than saltwater concentration experienced after hurricanes Matthew
and Irma.
Local partner Eric Strachan stated, “The Bahamian people face
adversity time and time again in the weeks after these horrific
storms. Dorian however has left the island without clean drinking
water for nearly one year. Rainmaker’s cost-effective, sustainable,
and modular technology can easily be deployed to help our
situation, and Bahamian Spring Water has the ability to distribute
Rainmaker’s high-quality drinking water to those in need.”
The partnership expects to require fifty Rainmaker Air-to-Water
machines, which harvest fresh water from airborne humidity using
zero chemicals, phased in over the next 3 years. The fifty solar
capable Air-to-Water units will produce a combined volume of up to
250,000 liters of water per day, which Bahamians can access for a
low rate of 12-30 cents per liter. The varied price per unit is
based on the packaging and delivery required.
Rainmaker CEO Michael Skinner commented, “Forming local partner
relationships is imperative to the success of battling water crises
at the local level. Eric Strachan’s local connections and resources
in The Bahamas matched with our easily deployable, turn-key clean
water solutions is how we will reach populations living in water
scarcity.”
On July 15th, Rainmaker announced a merger agreement with Sphere
3D (NASDAQ: ANY) expected to close in Fall 2020. Rainmaker
shareholders will receive 1/3 of a share of Sphere 3D for each
whole share of Rainmaker exchanged and one-third of a warrant or
option for each whole warrant or option then held by such Rainmaker
shareholder. Sphere 3D’s name will change to Rainmaker Worldwide
Inc. and intends to trade under the symbol ‘RAIN’.
About Rainmaker Worldwide
Rainmaker Worldwide Inc. (OTC: RAKR) is a leader in technology
that produces clean, affordable water. Headquartered in
Peterborough, Canada, with an innovation and manufacturing center
in Rotterdam, Netherlands, the Company’s patented water technology
provides economical drinking water at scale wherever it’s needed.
Rainmaker’s goal is to be a global leader in solving the worldwide
water crisis. Rainmaker Worldwide Inc was recognized as the
Best Community Impact Water Solutions Global 2020 by Capital
Finance International. For more information about Rainmaker,
visit www.rainmakerww.com.
Forward-looking Statements
Certain matters discussed in this announcement contain
statements, estimates, and projections about the growth of
Rainmaker’s business, potential distribution partnerships and/or
clients, and related business strategy. Such statements estimates
and projections may constitute forward-looking statements within
the meaning of the federal securities laws. Factors or events that
could cause our actual results to differ may emerge from
time-to-time. Rainmaker undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. The recipient of this
information is cautioned not to place undue reliance on
forward-looking statements.
For more information and investors:
The Blueshirt GroupWhitney KukulkaManaging Director+1 (415)
489-2188investors@rainmakerww.com
Rainmaker Worldwide Inc.Michael SkinnerChief Executive Officer+1
(705) 201-1020info@rainmakerww.com
Sphere 3D (NASDAQ:ANY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sphere 3D (NASDAQ:ANY)
Historical Stock Chart
From Apr 2023 to Apr 2024