River Birch Global Water Acquires Controlling Interest in Pavilion Water Technology
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Toronto, Ontario (FSCwire) - River Birch Global Water Inc. ("River Birch") (www.riverbirchwater.com) is pleased to announce that it has acquired the controlling interest in Pavilion Water Technology Ltd. (“Pavilion”) through its subsidiary River Birch Pavilion Inc. (“RBP”).
“The acquisition of Pavilion Water Technology represents an important step for establishing a platform for our company to become a global leader in the water industry. We now have next generation technology and expertise to cost effectively generate potable water across international markets facing water scarcity using a proprietary modular and portable system. We are also very excited about the future as a Pavilion operating subsidiary has developed a high demand solution for the regulated mandatory cleaning and treatment of waste water disposal from ships. This is covered under strict new MARPOL regulations enforced by all IMO member countries,” said Peter Deacon, River Birch's President and CEO.
Pavilion founder, Ian Roos, will continue in his CEO role leading Pavilion business operations. Mr. Roos is a serial entrepreneur having run several successful businesses in South Africa, New Zealand, Singapore and the United Kingdom. Mr. Roos has a graduate degree in Physics and has successfully developed innovative technical solutions for more than twenty years to improve production and profitability of business operations in the oil, marine and mining industries.
Pavilion through a joint venture has a signed long term contract to establish, own and operate a scalable water utility business in the Middle East using its proprietary technology to generate potable water. This business is in activation testing phase and is on track for generating revenues in Q1-2018.
In Colombia, Pavilion through a subsidiary has entered into a joint venture with one of the largest bunkering groups in the country and will provide both MARPOL services as well as production of clean water. The set up and installation of equipment is currently taking place and this business is expected to be generating revenues in Q2-2018.
“Our team is very excited to be joining with the strong corporate capabilities of the River Birch organization. I believe the added resources will enable Pavilion to accelerate the scaling of our current contracts and installations to address our existing pipeline of more than eighteen months of proposed installations. We are very confident that our high demand solutions will soon be installed in markets reaching across four continents,” said Ian Roos, President and CEO of Pavilion Water Technology.
About River Birch Global Water Inc.
Headquartered in Toronto, Ontario, Canada, River Birch Global Water Inc. aims to be a global leader in water technology and services. The company plans to grow both organically and through strategic acquisitions and investments, leveraging synergies across its various business lines and distribution channel partners. The company focuses on desalination, purification, filtration, water treatment, waste water treatment, storage, circulation, and nutrient removal.
About River Birch Pavilion Inc.
River Birch Pavilion Inc. is a private Canadian corporation located in Toronto, Ontario, Canada. The company is a subsidiary of River Birch Global Water Inc. and has interests in the global water industry.
About Pavilion Water Technology Ltd.
Pavilion Water Technology Ltd. is a private Bahamas domiciled corporation that is focused on developing technologies to provide cost-effective solutions to produce potable water from oceans and in-land wells. The corporate business model provides for turnkey, modular, portable water technology solutions under a Build Own Operate structure. The company uses its proprietary technology to deliver water solutions across international markets. The company currently has active business operations in the Bahamas, Middle East and South America.
Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although River Birch believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because River Birch can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. River Birch undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of River Birch, its securities, or financial or operating results (as applicable). River Birch disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
For further information:
Peter Deacon, CEO
t: (416) 500-8396
To view the associated document to this release, please click on the following link:
Source: River Birch Global Water Inc.
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