WaterPure International (OTCMKTS:WPUR) stock was under pressure on Wednesday as investors preferred to book profit at higher level.
Trading Data
On Wednesday, WPUR stock fell 12.50% at $0.0223 with more than 1.60 million shares, compared to its average volume of 2.84 million shares. The stock has moved within a range of $0.0223 – 0.0285 after opening the trade at $0.0284.
WPUR Confirms Off Grid EV Charging Technology Acquisition Negotiations
WaterPure International OTCMKTS:WPUR) has announced on November 10, 2021, that it is currently engaged in negotiations for a deal to acquire an innovative, off grid, EV charging technology solution. Once the acquisition is successful, the plan is to deploy the technology in Sub Saharan Africa, along with existing water technology initiatives.
Water scarcity has affected the lives of 3 billion people already, and the figure is set to rise to 5 billion by 2050. WaterPure International has updated its decade old clear water operations, while also trying out new water delivery efficiencies and technologies in developing economic markets – they will eventually be scaled for all markets worldwide.
The company also plans to include the electric utilities market to its current water utilities operations. Electric utilities, especially in developing economic regions, are facing problems like power shortages. A major amount of the global power supply is dependant upon coal, so the transition to electric vehicles is expected to double the demand for electricity. That is why the company is working towards trialing new electricity generation and delivery efficiencies and technologies.
The global electric utilities industry currently generates over $4 trillion in annual revenue without providing adequate electricity globally. The electric vehicle charging market worldwide is estimated to reach a value of $27 billion by 2027.
