By: Tomas Ronolski - AllPennyStocks.com News

Thursday, November 19, 2015

According to a report by Global Industry Analysts Inc. (GIA), the worldwide market for water and wastewater treatment equipment is expected to reach $53.4 billion by 2020. GIA believes that the growth in the wastewater treatment equipment market will be driven by increasing population, urbanization, improving manufacturing activity, and rising oil and gas production among other things.

Ever increasing global population and focus on industrialization, especially in developing economies, will be the main factors that will fuel growth in the global water and wastewater treatment equipment market, according to WaterWorld. WaterWorld, citing the GIA report, further notes that equipment manufacturers are also set to benefit from the pent-up demand which has built up due to lack of investments in infrastructure by municipalities and the private sector in the last few years.

The robust outlook for the wastewater treatment equipment market augurs well for Cardinal Resources Inc. (OTCBB:CDNL), a Pittsburg, Pennsylvania-based worldwide producer of patented, solar-powered, community-scale drinking water systems. CDNL’s offerings include the patented Red Bird System, which is a solar-powered community-sized drinking water system, and the Grey Bird Approach to wastewater treatment and green infrastructure as well as a deep range of traditional environmental and engineering services.

This morning, CDNL announced that it has completed the start-up of the first Community Red Bird System- 10 in Soloy, Panama. The CRB-10 installed in Soloy shows the capabilities of the patented Red Bird System for the community and Senior Engineers for the Republic of Panama. The company said that local officials have already completed their initial inspection and the acceptance testing by Panamanian officials will be completed by early December. In addition, local officials have officially requested that three systems be installed in their community as early as February 2016.

CDNL noted that the addressable market in Latin America for clean water is huge. The company, citing World Health Organization (WHO), notes that more than 50 million people in the region are without adequate access to clean, pure water.

Commenting on the development today, Kevin Jones, CEO at Cardinal Resources, said that people of Soloy are thrilled that the first system is operating and that the initial inspection by the community including the taste testing of water, brought smiles all around at the prospect of having clean drinking water year around. Jones added that there is also excitement about the training for local members of the community in the operation and maintenance of the system.

Investors seem to be sharing this excitement by taking shares of CDNL up over 20% in early afternoon trading.

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