GUELPH, Ontario, June 23, 2023 (GLOBE NEWSWIRE) -- Current Water Technologies Inc. (TSX-V: WATR) ("CWTI" or "the Company" or "the Corporation"), is pleased to announce the signing of the Definitive Sales and Marketing Joint-Venture Agreement with ecoX Global Pte. Ltd. (formerly Separtis Technologies Global Pte Ltd) of Singapore. The joint-venture company is being incorporated in Singapore under the name WATR-H₂ Pte. Ltd.

CWTI is an emerging technology leader in the production of "GREEN HYDROGEN" from ammonia-contaminated wastewater, in the management of ammonia in industrial and municipal wastewaters and AQUACULTURE process and wastewater streams, and in the production of HIGH PURITY WATER for the boiler feedwater, pharmaceutical and micro-electronics sectors.

CWTI's CEO, Dr. Gene Shelp reports that although the execution of the Definitive Agreement has taken longer than expected, the ecoX/CWTI team has been aggressively marketing the virtues of CWTI's innovative solutions over the past 6 months. To-date our efforts have resulted in serious discussions with numerous parties from the oil and gas, fertilizer, agricultural and municipal sectors in Australia, Europe and North America.

WATR-H₂'s corporate vision is "Global Access to Clean Waters, Clean Air and Affordable Green Energy". WATR-H₂'s mission is to facilitate the timely transition of costly industrial and municipal wastewater treatment facilities into profit centers by converting toxic ammonia into environmentally friendly nitrogen gas and valuable by-products, namely green hydrogen gas, a disinfectant and an alkali. These major benefits should establish the utility of the AmmEL-H2 green hydrogen technology in generating local/regional energy storage centers/hubs − vital components in the future electrical grid.

About ecoX Global Pte Ltd.

ecoX Global Pte Ltd is a Singapore-registered technology platform that is focused on waste management and utilization. Its subsidiary, ecoX, is an innovative, Australian technology company operating in the waste management, remediation and recycling sector. ecoX is involved in the development and implementation of technology that solves perplexing global environmental problems. From innovative, mobile wastewater treatment systems, to new plastic recycling processes, to destruction of microplastics in the ocean, to smart recovery of metals from e-waste and mine tailings, ecoX is focused on using advanced engineering solutions to improve our planet.

About Current Water Technologies Inc.

Current Water Technologies is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the production of Green Hydrogen and to the treatment of wastewater, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, oil and gas, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Incorporated operates as a division of the Company and continues to function as an integrated pump station manufacturer specializing in custom design and automation.

The common shares trade on Tier ll of the TSX Venture Exchange under the symbol "WATR".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Dr. Gene S. Shelp, Ph.D., P.Geo.
President and CEO

Tel: (519) 836-6155
Fax: (519) 836-5683
E-mail: gshelp@currentwatertechnologies.com
Web Site:

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Current Water Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Current Water believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Current Water undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.