INDIANAPOLIS, April 22 /PRNewswire-FirstCall/ -- Global Water Technologies, Inc., (Pink Sheets: GWTR), an innovative provider of non-chemical water purification and treatment services, announces its corporate headquarters have moved to Indianapolis, Indiana.
"Indiana has an excellent technology community, a vibrant entrepreneurial climate, a strong manufacturing history and a new emphasis on clean technology. That's an excellent environment to grow this business," said Erik Hromadka, president and CEO. "Today's Earth Day activities are a reminder that wise use of natural resources is important and no resource is more important than clean water."
"We welcome Global Water to Indiana and thank them for their investment and confidence in our state," said E. Mitchell Roob Jr., Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "This company's pursuit of clean technology practices and responsible water management is admirable and reflective of the state's overall mission in attracting new investment."
Hromadka noted that Indiana also provides the company with cost advantages and its central Midwestern location has better proximity to a large number of commercial and industrial customers that have hard water treatment needs which can benefit from its patented electronic descaling technology.
"In this economic climate, controlling costs is key to long-term success," Hromadka said. "In the past three months, the new board has undertaken a review of the company's operations and aggressively cut costs, including a reduction in management and overhead expenses of more than 50 percent. Although there are numerous opportunities for growth in the water industry, we believe it must be managed carefully and developed in a profitable manner."
The company is also undertaking a comprehensive review of previous management practices and working to establish the internal and external reporting systems required for relisting with the SEC. The new address for Global Water Technologies is 8501 Bash Street #500, Indianapolis, Indiana 46250.
ABOUT GLOBAL WATER TECHNOLOGIES:
Global Water Technologies, Inc. (GWTR.PK) is a "clean technology" water treatment and services company with innovative technologies, focused on the energy, power, oil and gas, process, HVAC and municipal markets. The company utilizes its proprietary technologies and service programs to increase operating efficiencies and reduce water usage through comprehensive water management solutions.
FORWARD LOOKING STATEMENT:
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates,"
"believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
KEYWORD: WATER, ENERGY EFFICIENCY, COLORADO, INDIANA, CLEANTECH, GREENTECH, WASTEWATER, ENVIRONMENT, NON-CHEMICAL, POWER, ENERGY, UTILITY, HVAC, AGRICULTURE, ETHANOL
INDUSTRY: WATER
ENVIRONMENT
CLEANTECH
GREENTECH
HVAC
WASTEWATER
POWER
ENERGY
UTILITIES
ETHANOL
AGRICULTURE
MINING
