PETERBOROUGH, ON, July 27, 2020 (GLOBE NEWSWIRE) -- 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.
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.
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