Water Ways Technologies Inc. (TSXV: WWT) | RICH TV LIVE – June 14, 2021 – Water Ways Technologies Inc. (TSXV: WWT) (” Water Ways ” or the ” Company “), is pleased to announce that further to the company’s press release dated November 23, 2020, its Chinese subsidiary has completed the delivery and installation of a 20 hectare turnkey blueberries irrigation project in the Province of Yunnan in China ordered by Driscoll’s subsidiary. The total value of the project was CAD$460,000. Driscoll’s is the global market leader for fresh strawberries, blueberries, raspberries and blackberries. With more than 100 years of farming heritage and hundreds of independent growers around the world, Driscoll’s is passionate about growing great tasting berries.
Do you want to learn how to trade stocks in cryptocurrency join our community of traders go to richpixdaily.com and find the next 10 bagger how’s everybody doing today i am your host rich here on behalf of rich tv live and i’m here with my very special guest ronnie jaggerman a director of waterways technologies how you doing today ronnie great good morning
Vancouver it’s late afternoon here in israel rich thank you very much for interviewing i really appreciate the opportunity um you know and the ball is yours fantastic well i’m excited to learn more about your company and when i started doing a little bit of research i right away felt like your company was undervalued under appreciated underexposed and we’re
Going to get right into why so waterways has revenues had revenues last year at around 12 million which right there tells me because you’re at 15 cents that you’re already undervalued and received over 10 million in orders in q1 giving it a run rate of 40 million dollars in 2021 is waterways likely to maintain the momentum going forward yes we are we’re
Having a very good year um you can see our results for the first quarter uh which were sales of 550 5.5 million canadian dollars in revenue and 550 000 ebitda that’s almost 10 percent or it is for 10 our order backlog is at a record high this was the best quarter for the company ever um and we’re seeing our business really around the world very strong we’ve
Had a very strong canadian business a very strong chinese business and our business out of israel is also extremely strong and i think we can keep that momentum going on during um all the part of the year wow that’s incredible you’ve recently opened up subsidiaries in canada and china do you see waterways opening up more subsidiaries in other regions and
If so where would those be yes i do it is our strategy and one of the reasons that we went public and we’re very successful um the first the first strategy we took was entering canada by buying the assets of a canadian irrigation distributor heartland grove based south of london and ontario and that proved to be a winner this was a distributor of irrigation
Equipment um its owner john paul was very successful but he it had the normal problems a small company we came in and acquired the assets of the company uh put john paul as ceo of the company and we saw uh the business growing uh from a two million dollar canadian business to four million last year and we’re still growing in that business this year which
Brings us to a good whole foothold in the canadian irrigation market which is we’re still small players it’s 100 million dollar market we’re still only four or five percent of the market and we intend to grow to to be dominant in the market we did the same thing in china we had a distributor for years in china uh waterways is not a young company it started
In 2006. so we were doing uh for four or five years business in china but selling component to our chinese distributor which was actually a project company so we did the same thing we acquired the assets we opened a chinese subsidiary um it picked up very slow because unfortunately beginning of 2020 was coveted and chinese business was seized 100 percent
But last quarter of last year we saw the business starting uh and again we have a very good quarter in china in the first quarter and we see the business uh really picking up and we focus in china on high healing crops uh we did a business act actually we did uh one project with driscoll which is the largest grower in the world of berries it’s an american
Company which grows uh berries and over 21 um um countries around the world and i’m confident that this business will grow once we’ve established the strategy uh we seek to grow in other territories i.e in western canada in the united states in peru where we have we have a good we could have a good stronghold foothold and in other places around the world
Wow what are your main drivers of demand for waterways in the future um you know it’s very easy our earth is warming nobody seems to do anything about it trump was of course against it but but even now um earth is warming a warming means there’s less less water water is becoming scarce which means if you want to grow crops you know i just read yesterday that
That food is a new oil okay okay that was yesterday in in an article and um water is getting scarce so in order to irrigate and crops the crop doesn’t grow without without good irrigation you need to use smart irrigation or drip irrigation or or you need to put brains into the interrogation and that’s where israel comes into the field we’ve been we’ve had
An arid country since the day israel was founded in 1948 and farmers in israel and and farming companies and irrigation companies has to develop develop systems to use irrigation or water in a smart way because water is very scarce in israel and rich i told you to come to israel if you come today to israel israel is extremely green it’s not anymore desert
And that’s before because water was used in a very efficient way and and that is why waterways is in a great position to boom because the demand just mark of smart irrigation is growing extensively all around the world our biggest product project we did ever was a four million dollar project in uzbekistan you know you wouldn’t think and and to irrigate to
Smart irrigate cotton okay now this is not a smart a cotton is you know it’s it’s a hot it’s a medium yield um um crop not like cannabis or berries or anything but you wouldn’t think that in a place like uzbekistan they would invest four million dollars uh in an irrigation system which is probably much more much more expensive than than flood irrigation um
And invest that amount uh for a cotton field and and that’s you know and this this is all around the world so it’s in canada i mean if you if you drive if you drive from from um london south and you see the vineyards uh on the way to niagara falls they’re all drip irrigated on all by israeli technology period wow so you know that so so that’s that’s the world
And the demand is growing and that’s our huge chance to grow in the market because um the market the world market for smart irrigation is anywhere between two billion to three billion dollars a year um fully dominated eighty percent dominated by companies from israel wow well guess what we’re we’re a you said whatever companies we i can’t name numbers because
Of you know because i can’t give you forward-looking uh statement we’re a public company but we’re a fraction of that market a fraction we still have so much room to grow and become a hundred million dollar company um the opportunity is just there that’s great now you mentioned this a little bit israel has become an industry hub for agricultural technology
With around 400 plus agri-tech startups can you tell our viewers on why that is and how waterways fits into the mix okay um why that is very easy i mean um there’s no we need always to develop because um that is the only way uh agriculture could grow in israel okay so development is part of the system um i don’t know if if you if you know do you like cherry
Tomatoes yes absolutely cherry tomatoes were developed in israel oh wow that’s great developed in the white institute actually the professor who won the prize for it of my best friends oh wow that’s great so that’s sort of of what we do in israel and of course with um with um tech companies money just pouring now into israel in the last two or three years
Um is very important and it’s a very important part of of israel of the israeli culture and the israeli r d um and and that’s why while you see you know there’s money there’s startups there’s brains we have two universities who excel um in in development of of um agriculture of growing and anything around that and drone technology whatever you could think
Of irrigation technology uh sensors anything like that um and that’s why uh you can see 800 startups in the field in israel and we’ll do what we’re doing now we will integrate into the waterways both manufacturing and marketing capabilities uh leading uh technologies that are developed in israel so we’re part of it we’re we’re seeing uh startups we’re
Seeing different technologies and we’ll encompass those technologies into our sales and marketing system sounds great what type of margins do you receive on your projects and what can investors expect long term okay so um normally on a project our margins are anywhere between 20 to 30 percent okay which is not which is okay it’s not high um we’re seeking
To improve that dramatically we have increa if you look at the gross cross numbers they’ve improved also dramatically in q1 um versus last year and we see we’ll seek to improve that by bringing in technology by developing for instance we’re now putting our own control system into the irrigation system so um we’ll have more products which are developed by us
As we grow we’ll ha we’ll will have much more efficiency in acquiring components acquiring raw materials um economics of growth and i’m sure you can see our margins improve in the coming years is that always going to create software sas revenues in the future we’re not 100 sure about that um we’ve tried that you know i’m honest you know we’ve tried to bring
That technology in a sas model uh and we found out that it’s not so easy to im to imply and to implement um you know in in the business of farming um so we have incorporated our incorporating that system as a control unit as a very smart control unit to the farmer in any irrigation project that we install especially in the cannabis sector and there’s still
Business sas business to be developed um i don’t think it’s going to happen this year but probably in the coming years super excited to learn more about this company we’re going to be putting it on our radar we’re going to be putting on our watch list thank you for joining us today ronnie jaggerman director of waterways technologies rich so much thanks so
Much for having me i really enjoyed our interview uh and thanks for everybody who’s listened to me always a pleasure now if you’re new to waterways technologies put it on your radar put on your watch list if you like the video smash the like button comment down below share the video everywhere and subscribe remember rich tv live is strictly for information
And education purposes please do your due diligence do your research before you invest in anything that we talk about here in rich tv live if you like the video if you like the company all you need to do is comment smash the like and let us know thank you for watching if you’re not winning you’re not watching here rich tv live we bring you the winners and we
Bring them to you first thank you ronnie thanks for watching everybody have a nice day from israel you
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Water Ways Technologies Inc. (TSXV: WWT) | RICH TV LIVE By RICH TV LIVE