VEJLE, DENMARK: Two Danish companies are evaluating owning a joint venture company, which would offer initial share sales on Pakistan Stock Exchange (PSX), to establish a water heating and purification products production and sales capacity in Pakistan.

Green Impact Ventures’ subsidiary Waturu ApS, has entered into an LoI with a Danish company with the objective to investigate the possibilities to create a jointly owned joint venture in Pakistan.

Once the necessary investigations are concluded a definitive JV agreement between the parties will be signed.

If so, the joint venture company will be responsible for the production and sale of the Waturu water heater and water purification products to the Asian markets.

It is the ambition that the joint venture company will conduct an IPO (listing) on ​​the Pakistan Stock Exchange, once the company is successful.

It is the expectation that production costs can be lowered to half of the current costs level per unit and that the company, at full market assessment and production, can sell 5,000 – 10,000 units per months.

The joint venture partner bears all costs for setting up the manual production capacity, as well as for hiring sales and marketing resources to target the local and Asian markets.

The Joint Venture company will gain exclusivity to produce and sell the Waturu products to the Asian markets. The joint venture company must pay a royalty fee per sold unit, which is to be finally agreed in the definitive agreement.

All patent rights, current and future, belongs to Waturu ApS. Waturu ApS is obliged to help with training in product assembly and new design updates.

Waturu is a Danish Greentech company. Based on several years of research and development, the company has developed a sustainable and intelligent water heating- and purifying technology with significant impact on saving water, energy and Co2 reductions.

The technology provides increased comfort and safety by delivering immediately purified, hot water. The technology serves as a platform technology and is thus useful in a variety of products.

The consequence for Green Impact Ventures A/S is that the company, via the subsidiary Waturu ApS, becomes a 50% owner of a Pakistani Joint Venture company with an expected great earnings capacity and a significant value creation if the Joint Venture company will be listed.

PSX for initial public offerings is coming out of hibernation and heading for a record year, as it will host about 10 new share sales in the fiscal year to June 2021. That follows a 17-month streak of no new initial share sales and beats the previous record of nine deals in 2008.

Green Impact Ventures A/S is a Greentech company, which develops innovative water technology for heating or treating water, with the focus on ensuring bacteria-free water and reducing water and energy consumption for heating hot water in properties and thus ensuring CO2 savings.

Green Impact Ventures A/S is a major shareholder in the medical company Watgen Medical A/S and in the technology company Aquaturu A/S.

Green Impact Ventures prioritize its production facilities to be located in Denmark or in the EU maintaining a high and consistent product quality.