RIDGEFIELD PARK, N.J., Oct. 03, 2024 (GLOBE NEWSWIRE) -- LIFEQUEST WORLD CORP (OTC MARKETS: LQWC) is focused on innovative, decentralized, scalable wastewater treatment and reuse technologies. The company is focused on biological treatment of sewage wastewater and electro-chemical treatment of certain industrial wastewater.
Enes Kutluca, CEO of Lifequest subsidiary, Biopipe Global, said, "We are proud to announce the installation of our cutting-edge biological sewage wastewater treatment plant at a resort in a major tourist destination. This will be our third plant in resort with two plants running at resorts in the Maldives. This plant will be commissioned at the time of opening of the resort. Our innovative on-site STP will significantly reduce the resort's environmental footprint, contributing to water conservation efforts and ensuring the eco-friendliness of its operations. Additionally, government regulations in India are becoming more stringent regarding the management of wastewater in hospitality settings. Installing our Biopipe STP will ensure compliance with environmental laws.”
According to https://www.ibef.org/research/case-study/growth-of-hotel-industry-in-india, the hospitality industry is growing at CAGR of 4.73% and expected to reach $31 billion by the year 2029. India, with its rich cultural heritage, diverse landscapes, and booming tourism industry, has seen a surge in the number of resorts, especially in popular travel destinations in the states of Goa, Kerala, Rajasthan, and Himachal Pradesh. With tourism thriving, it has become increasingly important for hospitality establishments to embrace sustainable practices, particularly in waste management. The industry is increasingly focused on sustainability with particular focus on water conservation. Biopipe STP with its small footprint, which requires limited civil work is the ideal solution. The effluent can be reused for irrigation, outdoor cleaning and other non-potable uses.
About LifeQuest & BioPipe
LifeQuest offers effluent treatment plants (ETP), sewage treatment plants (STP), fat oil and grease (FOG) separator and hybrid media for water polishing. BioPipe has developed a patented, 100% sludge-free, chemical-free, odor-free, silent, easy to assemble and install, scalable, low cost, ecological and low maintenance-free onsite sewage wastewater treatment system. The Abrimix ETP solution available through our joint venture is a highly efficient and cost-effective industrial wastewater treatment system that is vastly superior to Dissolved Air Floatation (DAF) and other onsite industrial wastewater treatment systems.
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This press release contains forward-looking statements that reflect the Company's current beliefs, expectations or intentions regarding future events. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "will,” "will be”, "anticipate,” "predict,” "expect,” "continue,” "future,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: political unrest in countries we operate in, Covid-19 pandemic related disruptions, shipping constraints, expatriation of invested capital, defaults, future revenues, expenditures, capital, the adequacy of the Company's current cash and working capital to fund present and planned operations, investments and the growth through joint ventures. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, can be found in our current Disclosure Statements at www.otcmarkets.com. The Company anticipates that subsequent events and developments may cause views and expectations to change. The Company assumes no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
