Yesterday, BioShaft Water Technology Inc. provided a corporate update on their activities throughout 2009 and in 2010. During the second quarter of 2010, they completed a $500,000 financing. The financing was from equity investment of common shares priced at $0.15. The money is being used for working capital purposes.
The Company completed the installation of a demonstration plant for the Municipality of Sharjah, United Arab Emirates (UAE). The plant continues to operate in accordance with their specifications as reported by a licensed independent laboratory. The basis of the reports is the data collected during the plant’s six months of operation. The Municipality of Sharjah, UAE, is in the process of awarding certification for the BioShaft technology.
BioShaft Water Technology Inc.’s technology was recently approved by the Saudi Ministry of Water and Electricity in the Jazan region for a 528,000 GPD project. In addition, BioShaft completed the construction of a 13,200 Gallons per Day (GPD) plant in Jeddah, Saudi Arabia. Furthermore, the Company began strategic alliances and assigned dealers to assist with expansion and sales of the BioShaft technology in the Middle East.
Zuhier A Zahran & Company (ZAZ) and BioShaft have formed a strategic alliance. This is to work on projects in Jeddah, Saudi Arabia and other parts of the region. ZAZ is a leading general contractor.
National Water Works Company (NWWC) is now an authorized dealer of BioShaft technology. NWWC is located in Riyadh, Saudi Arabia with many branches around the Kingdom.
There are currently two plants under construction in Jeddah, Saudi Arabia with capacities of 3960 GPD & 7920 GPD. BioShaft Water Technology Inc. continues to work on potential projects in the United States and Mexico. They recently presented a proposal for a 525,000 GPD plant for a resort in South Baja California, Mexico.
This past August, Sam Ariss joined BioShaft Water Technology Inc. as the Vice President of Finance and New Business Development in North America. Mr. Ariss has a Master’s degree in Business Finance and Management. He also has a Master’s degree in Biomedical Engineering and a Bachelor of Science in Mechanical Engineering from the University of Texas. Mr. Ariss has more than 32 years of combined experience in engineering, real estate finance and development.
Headquartered in Lake Forest, California, BioShaft Water Technology owns the BioShaft System patent worldwide. The Company designs and manufactures domestic wastewater (Sewage) treatment plants using the BioShaft System patent. BioShaft is an innovative wastewater treatment technology based on Bio-Filtration utilizing biofilm carriers. These plants are made using the Hans BioShaft Turbine that is at the heart of the wastewater technology.
The plants have many benefits over traditional waste water treatment systems. In addition to being considered odorless, there is no sludge – the patented BioShaft’s attached growth process results in the elimination of sludge. Benefits also include lower energy consumption, and significantly less land requirements. The Hans BioShaft system is a process that can maintain itself as well as the world’s environment at a much higher level than conventional sewage treatment technology.
For more information on the company visit: www.bioshaft.com
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