Tuesday, 02 July 2019 11:30 AM
Company Update
TORONTO, ON / ACCESSWIRE / July 2, 2019 / River Birch Global Water Inc. ("River Birch") (www.riverbirchwater.com) is pleased to announce the establishment of River Birch Global Water USA Inc., a Delaware-based wholly owned subsidiary of River Birch Global Water Inc., to act as its operating entity in the United States. In addition, the U.S. company, together with its business partners NuWater Systems LLC, Infinity Resources and Mobile Data have established Quantum Water Services Corp. ("Quantum"), a Delaware-based company, that will specialize in the remediation of wastewater in the oil & gas industry.
"Our creation of our U.S. subsidiary and our partnership in Quantum represents another significant milestone for River Birch Global Water as we focus on becoming a global leader in the water industry. Current technology will enable us to clean the water, extract chemicals for re-sale, and make the water safe for reuse by industry or to be released back into the environment," said Peter Deacon, River Birch's President and CEO.
The oil and gas industry is a significant producer of wastewater. According to a 2017 Bloomberg article, "30-50 million barrels of wastewater are produced every day in the Permian Basin in Texas."
"We are working with our business partners at Quantum to scale our business operations across multiple states and provide full service to energy producers in the fast growing $34 billion per year oil and gas water market," said Ray Kolynchuk, River Birch Director.
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 private company plans to grow both organically and through strategic acquisitions, leveraging synergies across its various business lines and distribution channel partners. The company focuses on desalination, purification, filtration, water treatment, wastewater treatment, storage, circulation, and nutrient removal.
About Quantum Water Services Corp.
Quantum Water Services Corp. is a Delaware based corporation that will specialize in the treatment of wastewater in the oil & gas industry. Quantum will actively manage storage, processing of frac wastewater and the subsequent re-sale of the treated water and any derivative products created.
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
e: [email protected]
RELATED LINKS
www.riverbirchwater.com
www.quantumwaterservices.com
www.mobiledataproduction.com
SOURCE: River Birch Global Water Inc.