WaterPure International (OTCMKTS:WPUR) stock ended sharply higher in the previous trading session.
Market Reaction
On Friday, WPUR stock moved up 10.40% to $0.0250 with more than 27.98 million shares, compared to its average volume of 3.28 million shares. The stock has moved within a range of $0.0219 – 0.0344 after opening trade at $0.0219.
WPUR Announces EV Charging Contract
WaterPure International (OTCMKTS:WPUR) has entered into an agreement for providing electric vehicle charging solutions for a special purpose electric vehicle operation based in Sub-Sahara Africa. As of now, details of the agreement are being kept confidential, due to an anticipated announcement by WaterPure’s client regarding the special purpose electric vehicle operation (expected to launch in 2022).
The estimated value of the market for water technology products and services purchased by water utility companies is more than $64 billion at present, which is supposed to go up to $83 billion by 2023. The global electric utilities industry currently generates over 4 trillion in annual revenue (even if they don’t provide sufficient electricity worldwide). The annual electric vehicle charging market might grow to $27 billion by 2027.
Electric utilities, especially in developing economic regions are dealing with power shortages. Too much of the global power supply comes from coal and the transition to electric powered vehicles, will surely put a strain on the system, as demand for electricity is expected to double.
WaterPure is focusing on adding electric vehicle charging to its current water utilities operations. The company is trialing new electricity generation and delivery efficiencies and technologies in developing economic markets that will be scaled up for all worldwide markets.
