Forward Water Technologies Announces Technical Advisory Engagement with CleanTech Lithium

TORONTO, ON / ACCESSWIRE / June 1, 2023 / Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) is pleased to announce that it has signed a technical advisory engagement dated May 25^th, 2023 with CleanTech Lithium PLC ("CleanTech Lithium") to review and assess technologies capable of further increasing CleanTech Lithium's existing process efficiencies.

Under this advisory engagement, FWTC will evaluate and advise on various technologies for use within CleanTech Lithium's operations, at its Laguna Verde and Francisco Basin projects located in the lithium triangle within Chile.

Advisement on technology usage is based on increases in process performance related to water reuse, energy reduction, CO₂ reduction and minimizing environmental impact, supporting CleanTech Lithium's mission of producing the worlds greenest and mot sustainable battery grade lithium. With laboratory resources and accomplished professionals in treatment design, FWTC is well positioned to support CleanTech Lithium in achieving their mission.

"As a progressive company, CleanTech Lithium already has effective processes in place but has engaged Forward Water to evaluate if current efficiencies can be pushed even higher" commented Grant Thornley, VP Engineering Solutions, of Forward Water Technologies Corp.

Commenting, Aldo Boitano, Chief Executive Officer, of CleanTech Lithium, said: "CleanTech Lithium champions a best-in-class mindset, ensuring that when opportunities capable of enhancing our position to become the leading producer and supplier of green lithium for the global EV market, we will always look to partner with those who can help us deliver on this ambition. We look forward to progressing with Forward Water."

About Forward Water Technologies Corp.

Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.

For more information, please visit www.forwardwater.com.

About CleanTech Lithium

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing next-generation sustainable lithium projects in Chile for the EV transition. CleanTech Lithium's mission is to produce material quantities of battery-grade lithium by 2026, with near-zero carbon emissions with minimal impact on the environment, offering the EV market a green lithium supply solution.

CleanTech Lithium has three prospective lithium projects - Laguna Verde, Francisco Basin and Llamara - located in the lithium triangle, the world's centre for battery-grade lithium production. They are situated within basins entirely controlled by CleanTech Lithium, which affords significant potential development and operational advantages. The projects have direct access to excellent infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction. Direct Lithium Extraction is a transformative technology which only adsorbs lithium from brine, with higher recoveries and purities. The method offers short development lead times, low upfront capex, with no extensive site construction and no evaporation pond development so there is no water depletion from the aquifer or harm to the local environment.

For further information, please visit www.ctlithium.com/

Contact Information

For more information or interview requests, please contact:

C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
416-451-8155

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations, and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

SOURCE: Forward Water Technologies Corp.