The new joint venture, called Global Water & Energy, LLC will be 70%-owned by GLV and 30% by Global Water Engineering. It will be based in Austin, Texas, USA, and will primarily target the North American food and beverage processing industry.
This strategic initiative reportedly meets one of the primary objectives of GLV's Water Treatment Group, which is to increase its presence and revenue streams in the industrial water and wastewater treatment segment, and more particularly in the food and beverage processing segment. The creation of Global Water & Energy, LLC provides GLV with better access to the renewable biomass power generation market. "This market niche holds significant growth potential for several reasons, including the will expressed by the new US government to facilitate the development of alternative sources of green energy, the growing economic and ecological challenges associated with the disposal of industrial waste, and the carbon credit markets emerging worldwide,” said GLV's president and COO Richard Verreault.
