Rainmaker, Miranda Water Treatment extend MoU to better serve global wastewater treatment needs
(WO) — Rainmaker Worldwide Inc. (“RAKR”) and Miranda Water Treatment Systems have expanded the previously signed Memorandum of Understanding to include a financing partner to formalize the integration of the three parties at both the strategic and operating levels.
“This step allows for the parties to commit to a transaction that will coordinate resources, and that will align MWTS with RAKR to better serve global water and wastewater treatment needs,” stated Bulent Hatay, CEO of MWTS. “Miranda has installations in more than 35 countries and growing. RAKR will use its global scope and synergy and its portfolio of water products to expand the collective market of the companies.”
RAKR has now built a financial consortium to affect the purchase of reciprocal stakes between the companies which RAKR believes could result in a material enhancement to Rainmaker’s financial performance. The individual operating entities will continue business as usual and should be in a period of rapid expansion. The management of RAKR continues to believe that this could lead to RAKR becoming revenue and EBITDA positive.
Chairman and CEO of Rainmaker, Michael O’Connor, said, “We believe that the technological, operating, marketing and sales expertise of MWTS will be invaluable to the future success of RAKR. Since the original signing of the MoU, we have been working hard, hand in hand, to develop projects in areas where Miranda has yet to develop.”
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