Dec 28, 2000

Global Water Technologies Awarded $2.7 Million Contract to Supply Cooling Water System for Siberian Power Plant

Global Water Technologies, Inc., a company utilizing advanced technologies and engineered solutions to provide process cooling water to industry and municipalities worldwide, has announced that its wholly owned subsidiary, Psychrometric Systems, Inc. (PSI), was awarded a $2.7 million contract to supply two water cooling towers for the Mutnovsky Geothermal Power Plant, located in southern Siberia, which is being financed by the European Development and Reconstruction Bank.

Commenting on the contract, George Kast, President and CEO, stated: "We believe this will be the first of many projects that will be awarded to us from this region. The growing need for new power will require cooling water to operate these facilities. This project will supply power to several regions that historically did not have a reliable source of power."

The cooling water system supplied by PSI will cool 50,000 gallons of water per minute. PSI will supply its proprietary fiberglass structure that is designed to withstand the severe weather conditions encountered in this region.

SOURCE: Global Water Technologies, Inc.