Ambient Water licences atmospheric water generation technology to Pacific AirWell for sell in California

Technology firm Ambient Water has granted exclusive licensing rights to California based Pacific AirWell for using, marketing and selling its current and future atmospheric water generation systems within the US state.

The agreement for the sale of commercial atmospheric water generation technology is, however, subject to sales and royalty regulations.

Under the agreement terms, Pacific AirWell will buy Ambient Water’s technologies worth at least $1m for sale during the first year, and offer 20% royalty to the company for all units sold.

In the second year, Pacific AirWell will purchase a license from Ambient Water for $2m and offer 25% royalty to it for the units sold.

The firms are likely to continue the agreement for subsequent years with no additional license fees as long as the minimum sales targets are met.

Ambient Water founder and CEO Keith White said: "This is a lucrative step forward for Ambient Water, as it generates cash flow and a wider distribution channel, both of which will help as we look to push our technology out on a wider scale."

The firm has invented a technology which draws water out of thin air. It transforms humidity into an abundant source of fresh water and has already been deployed for commercial usage across industries including oil & gas and agriculture, as well as for homes, offices, and communities.

Pacific AirWell CEO Matt Grey said: "This innovative technology is an immediate solution to California’s drought crisis.

"We can connect these units directly into water treatment facilities, farms, communities and commercial buildings — just about anywhere fresh drinking water is needed. In addition, this technology provides cooling which can supplement or even replace existing air conditioners."

Pacific AirWell president Jeff Lamberson said: "We chose to invest in California because it is the ideal proving ground for this cutting-edge green technology. We are uniquely positioned to assist our state with its fresh water needs."