- Agricultural technology provider Water Ways Technologies (WWT) has received orders worth over C$3 million combined since October 2020
- The orders are for agricultural and irrigation supplies, requested by customers in Canada, the United States, and Peru
- Water Ways expects to see most of the revenue from these orders within 2021’s first quarter
- Despite a reduction of business caused by COVID-19 last year, the company expects to make a comeback in 2021
- Water Ways Technologies is up 10 per cent, and is currently trading for 5.5 cents per share
Agricultural technology provider Water Ways Technologies (WWT) has received orders worth over C$3 million combined since October 2020.
One set of orders, worth over $2.4 million, is for agricultural and irrigation supplies requested by customers in Canada and the United States. A portion of these orders, worth approximately $1.2 million, was previously disclosed by the company.
The fact that the initial disclosed order amount has been at least doubled in amount suggests that these North American customers may provide some repeat business for Water Ways Technologies.
The other orders, worth over $600,000 in total, are for irrigation products which the company will deliver to a distributor in Peru. The company expects to see most of the revenue from all of these combined orders within the first quarter of 2021.
Currently, Water Ways primarily sources its revenue from the provision of water irrigation solutions to agricultural producers worldwide. However, the company is starting to pursue new applications for its technologies, including the mining sector.
Water Ways Technologies’ CEO, Ohad Haber, commented on the company’s rapidly growing backlog, and on his hopes for a revival of business in the new year.
“I am extremely pleased to watch our order backlog for 2021 increase in the last several weeks,” he said.
“After the slow-down we were facing during 2020 due to the COVID-19 pandemic, we are witness to a revised interest in our products and services, which I hope will be proven to make 2021 an important year for the company,” he added.
Water Ways Technologies is up 10 per cent and trading for 5.5 cents per share, as of 9:31am EST.
