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The subsidiary of Green Impact Ventures, Waturu ApS, has entered into a LOI about establishing a production and sales capacity in Pakistan through a Joint Venture company
Company announcement no. 75 Inside information
Vejle, June 2nd, 2021
Green Impact Ventures A/S´ subsidiary Waturu ApS, has today entered into an LOI with a Danish company with the objective to investigate the possibilities to create a jointly owned joint venture in Pakistan.
Once the necessary investigations are concluded a definitive JV agreement between the parties will be signed.
If so, the joint venture company will be responsible for the production and sale of the Waturu water heater and water purification products to the Asian markets.
It is the ambition that the Joint Venture company will conduct an IPO (listing) on the Pakistan Stock Exchange, once the company is successful.
It is the expectation that production costs can be lowered to half of the current costs level per Unit and that the company, at full market assessment and production, can sell 5,000 - 10,000 units per months.
The joint venture partner bears all costs for setting up the manual production capacity, as well as for hiring sales and marketing resources to target the local and Asian markets.
The Joint Venture company will gain exclusivity to produce and sell the Waturu products to the Asian markets. The joint venture company must pay a royalty fee per sold unit, which is to be finally agreed in the definitive agreement.
All patent rights, current and future, belongs to Waturu ApS.
Waturu ApS is obliged to help with training in product assembly and new design updates.
The consequence for Green Impact Ventures A/S is that the company, via the subsidiary Waturu ApS, becomes a 50% owner of a Pakistani Joint Venture company with an expected great earnings capacity and a significant value creation if the Joint Venture company will be listed.
About Green Impact Ventures A/S
Green Impact Ventures A/S is a Greentech company, which develops innovative water technology for heating or treating water, with the focus on ensuring bacteria-free water and reducing water and energy consumption for heating hot water in properties and thus ensuring CO2 savings. Green Impact Ventures A/S is a major shareholder in the medical company Watgen Medical A/S and in the technology company Aquaturu A/S.
Further information:
CEO Toke Reedtz, cell.: +45 5188 1262, e-mail: toke@waturu.com
Green Impact Ventures A/S
Sjællandsgade 32
7100 Vejle
Certified Adviser
CDI GLOBAL ApS
Per Vestergaard
Direktør/CEO
Vestre Havnepromenade 5, 5. sal 9000 Aalborg Denmark
P +4598110055, C +4521764317, E pva@cdiglobal.dk
Website: www.cdiglobal.dk
Nasdaq First North Growth Market
Important links:
Websites:
www.greenimpactventures.com
www.waturu.com
www.aquaturu.com
www.watgenmedical.com
Financial reports:
www.greenimpactventures.com/investor/
Further press related news:
www.linkedin.com/company/greenimpactventures/
www.facebook.com/greenimpactventures/
