Ambient Water Corp (OTCBB:AWGI), a sought after provider of technology that takes care of atmospheric water generation, has recently closed a multimillion dollar licensing agreement with Pacific AirWell, Inc.
As per the reports, Pacific AirWell will take care of the sales and the related activity of this atmospheric water generation system. With the help of Ambient Water’s atmospheric water generation system, client companies can extract water from air’s humidity.
The licensing agreement allows the Pacific AirWell to market and sell Ambient Water’s present and future atmospheric water generation technology in the state of California.
Insights On The Agreement:
The continuation of the agreement will depend upon royalty and sales requirements. There are certain terms and conditions that Ambient Water needs to follow to take things forward. Under the first condition, Pacific AirWell will need to buy at least $1 million worth of Ambient Water’s atmospheric water generation technologies during the first year. The company cannot claim to sell the technology outside California state. Ambient Water is entitled to receive 20% royalty on all the units sold by Pacific AirWell.
During the second year of the agreement, Pacific Air will have to buy a license to sell the atmospheric water generation systems from Ambient Water. As per the reports, the license is supposed to cost $2 million to Pacific AirWell. From the second year onwards, Ambient Water will receive 25% royalty on all the units sold by Pacific AirWell.
The agreement will continue in the future at no extra fees as long as minimum sales targets are met by Pacific AirWell. The senior management of the company is excited to sign this deal with Pacific AirWell. According to Keith White, CEO & Founder, Ambient Water Corp (OTCBB:AWGI), it’s amazing to enter into this agreement with Pacific AirWell and give them the rights to sell the atmospheric water generation technology in California. It will help the company generating continuous cash flow over the coming years.