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.”
Related News
From Archive
- OSHA issues 16 citations following fatal sewer confined space incident
- 27 pipeline safety violations tied to deadly Pa. chocolate factory explosion
- Contractor gas line strike triggers home explosion in Missouri
- LA recovery reports call for $650 million power line burial, major utility upgrades in Pacific Palisades
- Comprehensive microtrenching FAQ: Key insights on the Vermeer MTR516 microtrencher
- T-Mobile to expand fiber broadband infrastructure footprint with $4.9 billion Metronet acquisition
- First tunnel boring machines complete testing for Hudson Tunnel Project
- NWPX grows water infrastructure portfolio with Colorado precast facility
- Cityside launches $100 million fiber build in Corona, Calif.
- FiberLight to build 1,400-mile West Texas dark fiber network in $350 million expansion
Comments