Newater Technology (NASDAQ:NEWA) Partners with NW Blockchain Limited

Newater Technology has announced a strategic partnership agreement with NW Blockchain Limited. Through the partnership, the two firms will jointly develop blockchain-based applications which will be used in waste water treatment.

Newater Technology develops and manufactures membrane filtration products. It also designs hardware and engineering systems for waste water treatment and recycling. On the other hand, NW Blockchain Limited develops blockchain applications for use in the environmental protection industry.

NW Blockchain expects to use the blockchain technology to create value based solutions in the waste water treatment industry. The blockchain technology is a decentralized distributed ledger system that can efficiently record verifiable and permanent transactions between two parties. The partners intend to build a transparent and traceable platform that will add value to w hiaste water treatment transactions and opportunities.

The partners intend to create a blockchain token system which will be backed by revenues generated by Newater’s waste water projects. The token system will start with projects that NW Blockchain has invested in, which are owned and operated by Newater.

To kick off the partnership, NW Blockchain and Newater Technology will jointly identify a waste water treatment project. After this, NW Blockchain Limited will finance the project and acquire a waste water treatment equipment from Newater. Consequently, Newater Technology will continue managing and operating the funded projects. NW Blockchain will then pay Newater a 20% commission on all project revenues as payment for managing the projects. The payments will be made in the projects lifetime.

According to Mr. Yuebiao Li, Newater Technology’s chairman and Chief Executive Officer the company expects to benefit from NW Blockchain’s technology, exposing it to new opportunities and significantly increasing its revenues. “Newater will greatly benefit from expanded capacity to take up larger waste water treatment projects in china,” he said. He added that the partnership will also add value to the company’s investors because it offers the company new revenue streams in form of project management fees. Mr. Li further said that the partnership strengthens the firm’s position as a leading nano-filtration manufacturer and disc tube reverse osmosis expert in China.

About the author

Adam Loreen

Loreen covers the Crypto/Blockchain sector for Investing News Center.

Click here to add a comment

Leave a comment:

Latest posts