Press Release – Breaking News!
Self-Directed RRSP & TFSA Investors Now Able to Purchase Waterotor Shares Tax-Free
Ottawa-based IP development company, Waterotor Energy Technologies Inc., is offering a common share investment opportunity as part of the final phase of its ‘A’ round. The company’s groundbreaking hydrokinetic technology extracts a high percentage of kinetic energy from slow-moving rivers, ocean streams, and tidal flows, generating electricity at a fraction of the cost compared to conventional methods.
Waterotor has recently been approved by Odyssey Trust in Toronto to allow Self-Directed RRSP and TFSA account holders to purchase Waterotor common shares tax-free. Any gains made will be sheltered from tax within their Self-Directed RRSP or TFSA.
Waterotor is preparing to launch a global licensing program that will enable major manufacturers and energy companies to use the technology in exchange for significant patent user fees. This initiative is expected to lead to substantial revenue growth for Waterotor Energy Technologies Inc.
We are pleased to announce that Odyssey Trust, affiliated with Equitable Bank, will allow individuals to open Self-Directed RRSP or TFSA accounts to fund their purchase of Waterotor shares. Any gains from the sale of Waterotor shares in these accounts will remain tax-free, with funds only taxable upon withdrawal from Self-Directed RRSPs and tax-free upon withdrawal from TFSAs.
Odyssey Trust also allows transfers of Self-Directed RRSPs and TFSAs held at other financial institutions to their platform, enabling investors to take advantage of this tax-free investment opportunity.
About Waterotor Energy Technologies Inc.
Waterotor has developed a breakthrough technology for capturing kinetic energy from slow-moving water, with the ability to harness over 50% of the energy from water moving as slowly as 1 mph. The company’s technology is poised to make a significant impact on global electricity generation, with projects planned in the Amazon River (Brazil), USA coastal regions, and rivers in Poland.
Waterotor’s sweet spot for economic viability is water moving at approximately 4+ mph (1.8 m/sec), which is common in rivers, ocean currents, canals, and tidal flows. The company holds patents in over 110 countries, and its technology has been recognized as a game-changing innovation in energy extraction.
With $15M in initial funding, Waterotor has spent 10 years developing and testing its technology, achieving consistently high energy capture in slow-moving water. The company is now focused on licensing its technology to major manufacturers and power distribution companies worldwide.
Waterotor is currently completing commercial demonstration prototypes at the Port of New Iberia, Louisiana, USA. These new ‘V-System’ Waterotors are slated for deployment in the Brazilian Amazon River through a potential joint venture with a leading Brazilian energy company. Waterotor’s mission is to begin licensing agreements in 2024.