GEORGE TOWN, Cayman Islands, Jan. 21, 2022 (GLOBE NEWSWIRE) -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of advanced water supply and treatment plants, has been awarded two major contracts for water treatment facilities in Arizona and Florida.
The first contract was awarded to the company’s California-based subsidiary, PERC Water Corporation, which develops, designs, builds, operates and manages water infrastructure facilities in the Southwestern U.S. PERC currently operates two of the most advanced water reclamation facilities (WRF) in southern California. The new contract involves the design of a WRF in the city of Goodyear, Arizona for Liberty Utilities.
The design will include micro or ultra-filtration membranes to enhance biological wastewater treatment which reduce facility footprint while increasing the ability to treat more challenging influent and treat all influent to a higher quality level.
The facility will address the increasing demand in Liberty’s service territory in Goodyear and Litchfield Park, as both cities have experienced significant residential and commercial growth over the past decade.
PERC Water has been a part of Liberty’s efforts to build this new treatment facility since 2018. In 2017, PERC Water and Overaa Construction completed the expansion of Liberty’s Palm Valley Water Reclamation Facility also located in Goodyear.
“The new facility will help Liberty provide additional reclaimed water for important uses, such as irrigation, which will offset and conserve millions of gallons of potable water for human consumption and domestic purposes,” stated PERC Water President Nate Owen. “We look forward to continuing our business history with Liberty which dates back to 2002.”
For the second water project win, Aerex Industries, Consolidated Water’s specialty manufacturer of water treatment-related systems and products, was awarded a contract by the City of Port St. Lucie, Florida to replace membrane elements and upgrade equipment at the city’s 20 million gallons per day (MGD) J.E. Anderson Reverse Osmosis Water Treatment Plant. The facility treats groundwater from deep Floridan aquifer wells. This multi-phase project is expected to be completed by mid-2023.
The win builds upon a long-term relationship with the City of Port St. Lucie. When the city expanded the James E. Anderson Plant by 14 MGD in 2006, Aerex provided and installed seven 2.0 MGD reverse osmosis trains along with status panels, sample panels, and all stainless-steel piping.
“This latest project with the City of Port St. Lucie demonstrates the long-term relationships we have maintained with our customers,” stated Consolidated Water CEO, Rick McTaggart. “This win supports our efforts around further strengthening our municipality relationships and particularly with consulting engineers that advise these municipalities. In addition to taking greater advantage of Aerex’s engineering expertise and manufacturing capacity, we see such sales activity ultimately supporting additional revenue diversification and reduced customer concentration.”
About PERC Water Corporation
PERC Water Corporation is an innovative water infrastructure company that develops, designs, builds, operates and manages water infrastructure primarily in the Southwestern United States. The company’s proven approach provides certainty in cost, schedule and performance resulting in highly efficient and environmentally sensitive solutions. PERC has designed more than 60 water infrastructure projects, 31 of which were delivered as design/builder and/or operator. For more information, visit www.percwater.com.
About Consolidated Water Co. Ltd.
Consolidated Water Co. Ltd. develops and operates advanced water supply and treatment plants and water distribution systems. The company operates water production facilities in the Cayman Islands, The Bahamas and the British Virgin Islands and operates water treatment facilities in the United States. The company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment. For more information, visit www.cwco.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect", "should", "will" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to (i) continued acceptance of the company's products and services in the marketplace; (ii) changes in its relationships with the governments of the jurisdictions in which it operates; (iii) the outcome of its negotiations with the Cayman government regarding a new retail license agreement; (iv) the collection of its delinquent accounts receivable in the Bahamas; (v) the possible adverse impact of the COVID-19 virus on the company’s business; and (vi) various other risks, as detailed in the company's periodic report filings with the Securities and Exchange Commission (“SEC”). For more information about risks and uncertainties associated with the company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the company’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting the company’s Secretary at the company’s executive offices or at the “Investors – SEC Filings” page of the company’s website at http://ir.cwco.com/docs. Except as otherwise required by law, the company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
David W. Sasnett
Executive Vice President and CFO
Tel (954) 509-8200
Investor Relations Contact
Ron Both or Justin Lumley
Tel (949) 432-7566
Tel (949) 432-7572