Forward Water Technologies
Forward Water Technologies Corp. (TSXV: FWTC) is a Canadian clean-tech firm commercializing patented industrial forward osmosis (iFO) systems using Switchable Water Salt draw solutions to recover up to 95% of water from high-TDS industrial streams, serving lithium extraction, mining, oil & gas, food & beverage, and ZLD/MLD enterprise customers.
- Company typePublic
- Founded2015
- HeadquartersMississauga, Canada
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Forward Water Technologies does
Forward Water Technologies Corp. (TSXV: FWTC) is a Canadian clean-technology company that develops and commercializes industrial forward osmosis (iFO) membrane systems for water recovery and concentration in harsh industrial process streams. Founded in 2015 as a spin-off of GreenCentre Canada and based on switchable-solvent research from Queen's University, the company's core technology uses a proprietary Switchable Water Salt (SWS) draw solution in a three-step process — water extraction, low-grade-heat-driven salt/water separation (60–85°C), and draw-solution reconcentration — to recover up to 95% of clean water from streams with up to 260,000 ppm total dissolved solids, where conventional reverse osmosis and thermal evaporators cannot operate efficiently. The product portfolio spans MAX-FO (oil & gas and ZLD/MLD), Li-FO and Solar-iFO (tuned for pre- and post-Direct Lithium Extraction), Mobile iFO (containerized 35 m³/day pilots and emergency treatment), plus lab/pilot testing and BOO/BOOT operation services. Forward Water monetizes through direct equipment sales, long-dated managed-service agreements, mobile rental, professional lab/pilot services, and technology licensing (notably with FUJIFILM of Japan), targeting enterprise customers in lithium extraction, mining, oil & gas, food & beverage, and industrial ZLD/MLD applications.
The company became publicly traded in September 2024 via a reverse takeover of Fraser Mackenzie Accelerator Corp., listing on the TSX Venture Exchange under ticker FWTC. Its go-to-market is enterprise-led, anchored by a 4-stage design process from free computer modeling through on-site demonstration, complemented by partnerships with Aquaporin Group (membrane), Cornish Lithium (DLE trial), MEMBRACON UK (UK/Ireland landfill wastewater), and MABAREX (environmental services). Headcount is disclosed at 1–10 employees, with R&D and engineering operations at 1086 Modeland Road, Sarnia, Ontario. Cumulative disclosed funding totals approximately CAD $3.5 million across grants, private placements, and a 2025 convertible debenture, and revenue is not publicly disclosed. Strategic positioning emphasizes energy and CO2 reduction (up to 45% energy and 80% CO2 versus thermal evaporators) as the principal wedge against incumbents, with the lithium DLE vertical representing the highest-conviction growth bet tied to projected 480% growth in global lithium demand by 2030.
Forward Water Technologies firmographics
Firmographics- Name
- Forward Water Technologies
- Legal name
- Forward Water Technologies Corp.
- Website
- https://forwardwater.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Forward Water Technologies Corp. (TSXV: FWTC) is a Canadian clean-tech firm commercializing patented industrial forward osmosis (iFO) systems using Switchable Water Salt draw solutions to recover up to 95% of water from high-TDS industrial streams, serving lithium extraction, mining, oil & gas, food & beverage, and ZLD/MLD enterprise customers.
- Ownership category
- akta.pro rank
Forward Water Technologies industry classification
Industry- Product category
- Industrial Water Treatment
- NAICS
- Water Supply and Irrigation Systems (221310), Remediation Services (562910), Water Supply and Irrigation Systems (22131), Soft Drink and Ice Manufacturing (31211)
- SIC
- Water Supply (4941), Oil & Gas Field Machinery & Equipment (3533), Beverages (2080)
- akta.pro primary industry
- Water Reuse & Reclamation Infrastructure Construction (Recycled Water Systems) (IMAFAGAH)
- akta.pro secondary industries
- Industrial Water Reuse Utilities (ZLD/MLD & Process Water Recycling) (EUANAGAG), Produced Water & Upstream Water Management (EUALAAAL)
Keywords
Where Forward Water Technologies is headquartered
LocationHeadquarters
- HQ city
- Mississauga
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Forward Water Technologies business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure
Revenue model
- Industrial FO System Sales: Sale of permanent industrial forward osmosis systems (MAX-FO, Li-FO, Solar-iFO) to enterprise clients in lithium, mining, oil & gas, and industrial wastewater sectors. Systems are designed, installed and commissioned for specific client applications.
- BOO/BOOT Agreements: Build/Own/Operate and Build/Own/Operate/Transfer agreements where FWT designs, installs, and operates FO systems. These agreements guarantee FO product quality and quantity, ensuring risk-free operations over the agreement period with recurring service revenue.
- Mobile iFO Services: Containerized mobile treatment services for piloting, temporary treatment, emergency response, plant upgrades, maintenance outages, and equipment breakdown. Contracts for flexible time periods with process guarantees.
- Lab & Pilot Plant Services: Laboratory testing services including computer modeling, benchtop testing, and pilot plant validation. Client engagements begin with free computer modeling and progress through 4-stage gate design process.
- Technology Licensing: Licensing of proprietary FO technology and processes. Completed licensing agreement with FUJIFILM for technology deployment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Convertible Debenture Units - $1,000 per unit with warrants |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Forward Water Technologies product offering
Product offeringCore offering
Forward Water Technologies designs, builds, and operates industrial Forward Osmosis (iFO) membrane systems that recover clean reusable water and concentrate challenging process streams for lithium extraction, mining, oil & gas, and food & beverage clients. The proprietary three-step process uses a Switchable Water Salt (SWS) draw solution to extract water from high-TDS, high-fouling streams, achieving up to 95% water recovery and up to 20X concentration. Revenue is generated through equipment sales, BOO/BOOT service agreements, mobile containerized deployments, lab/pilot testing, and technology licensing.
Product overview
Forward Water Technologies offers a portfolio of industrial forward osmosis (iFO™) based products and services for water recovery and concentration across multiple industrial sectors. The core technology platform is iFO™ - a patented three-step forward osmosis process (water extraction, salt/water separation, and draw solution reconcentration) that achieves up to 95% water recovery with reduced energy consumption. The product line includes Mobile iFO™ (containerized treatment systems), MAX-FO™ (for oil & gas and ZLD/MLD applications), Li-FO™ and Solar-iFO™ (specialized systems for lithium extraction and DLE operations). Services include a 4-stage design process for client project development, laboratory and pilot plant testing services, and comprehensive operation services including BOO/BOOT delivery models.
Differentiator
Problem solved
Functional benefit
Brands
- Li-FO™: Industrial forward osmosis systems for use in Pre & Post Direct Lithium Extraction (DLE) operations
- Solar-iFO™
- Mobile iFO™
- MAX-FO™
Products and services
- iFO Industrial Forward Osmosis Systems
Quantifiable outcome
- Up to 95% water recovery rate
- +8 more outcomes
Companies that use Forward Water Technologies
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles5 records
Forward Water Technologies technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Forward Water Technologies partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship, strategic and core.
- FUJIFILMflagshipCompleted licensing agreement for FUJIFILM technology. Significant validation of FWTC's proprietary technology for broader market deployment through FUJIFILM's global distribution capabilities.
- Cornish LithiumstrategicAgreement where Cornish Lithium funds trials of FWTC's forward osmosis technology for lithium extraction operations. Validates technology for DLE applications and provides revenue for pilot programs.
- Aquaporin GroupstrategicStrategic partnership targeting the lithium market. Combined expertise in membrane technology and forward osmosis for water treatment applications in lithium extraction operations.
- MABAREX Inc.corePartnership agreement for environmental solutions. MABAREX provides expertise in environmental services that complement FWTC's water treatment technology.
- MEMBRACON UKstrategicJoint venture partnership for forward osmosis technology deployment. LOI signed for delivering breakthrough landfill wastewater treatment into UK & Ireland markets. Focus on joint technology development and market expansion.
- GreenCentre CanadacoreCompany founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. Dr. Philip Jessop serves as Technical Director of GreenCentre Canada and Executive Research Director at FWTC. Technology based on switchable solvents research from Queen's University.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
Forward Water Technologies competitors and assessment
Company assessmentDirect peers
- Aquaporin A/S: Denmark-based membrane technology company specializing in forward osmosis and biomimetic membranes for industrial water treatment. Direct competitor in FO membranes with active strategic partnership with FWTC targeting lithium markets; comparable product category and customer base.
- IDE Technologies: Israel-based water treatment company specializing in desalination, brine concentration, and ZLD solutions for industrial and mining applications. Direct competitor in brine management and water reuse, particularly in mining and lithium segments.
Broad incumbents
- FUJIFILM Corporation: Global diversified company with a major membrane and water treatment business (FUJIFILM Irvine Scientific and FUJIFILM Manufacturing Europe). Both a licensing partner and adjacent competitor with vastly larger scale in industrial membrane manufacturing.
- Veolia Water Technologies: Global leader in water and wastewater treatment with broad portfolio including ZLD/MLD solutions, mining water management, and industrial process water. Overlaps with FWTC across multiple verticals (mining, oil & gas, F&B) but at vastly larger scale and with different technology base.
- SUEZ Water Technologies & Solutions: Major industrial water treatment player serving oil & gas, mining, food & beverage, and lithium customers with RO, UF, and ZLD/MLD solutions. Direct overlap with FWTC's customer base in industrial water reuse, particularly in oil & gas produced water.
- Koch Membrane Systems: Established membrane manufacturer offering RO, UF, NF, and FO membranes for industrial applications including food & beverage, mining, and oil & gas. Competes in membrane-based water concentration and is a more established alternative to FWTC's FO approach.
- Toray Industries (Toray Membrane USA): Japanese membrane manufacturer with RO, UF, NF, and FO membrane products serving water treatment and industrial separation markets. Active in lithium extraction brine concentration, directly competing with FWTC's Li-FO offering.
- DuPont Water Solutions: Major industrial membrane and water solutions provider (FilmTec, etc.) with broad portfolio serving mining, oil & gas, and lithium processing. Competes with FWTC in RO-based and emerging FO-based industrial water treatment applications.
Emerging players
- Energy Recovery Inc. Provides energy recovery devices for desalination and industrial water treatment. Publicly traded small-cap focused on reducing energy consumption in RO systems; overlapping value proposition (energy efficiency) with FWTC's industrial water treatment focus.
- Modern Water plc: UK-listed small-cap water technology company developing FO and membrane systems for industrial and municipal applications. Comparable size and stage to FWTC with similar FO membrane focus but different go-to-market emphasis on municipal and emerging market applications.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Forward Water Technologies social profiles
Digital presenceForward Water Technologies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Forward Water Technologies leadership team
Management profileNumber of profiles
Profiles7 records
Forward Water Technologies funding detail
Funding detailFunding overview
Funding rounds10 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Forward Water Technologies M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Forward Water Technologies
What does Forward Water Technologies do?
Forward Water Technologies designs, builds, and operates industrial Forward Osmosis (iFO) membrane systems that recover clean reusable water and concentrate challenging process streams for lithium extraction, mining, oil & gas, and food & beverage clients. The proprietary three-step process uses a Switchable Water Salt (SWS) draw solution to extract water from high-TDS, high-fouling streams, achieving up to 95% water recovery and up to 20X concentration. Revenue is generated through equipment sales, BOO/BOOT service agreements, mobile containerized deployments, lab/pilot testing, and technology licensing.
Is Forward Water Technologies a public or private company?
Forward Water Technologies is a public company. It is classified as public and is currently operating.
When was Forward Water Technologies founded?
Forward Water Technologies was founded in 2015. It employs 1 to 10 people.
Where is Forward Water Technologies based?
Forward Water Technologies is headquartered in Mississauga, Canada, in the North America region.
How does Forward Water Technologies make money?
Five revenue lines are on record. Industrial FO System Sales are the primary driver. The others are BOO/BOOT Agreements, mobile iFO Services, lab & Pilot Plant Services and technology Licensing.
Who are Forward Water Technologies's main competitors?
Direct peers on record are Aquaporin A/S and IDE Technologies. Broad incumbents are FUJIFILM Corporation, Veolia Water Technologies, SUEZ Water Technologies & Solutions, Koch Membrane Systems, Toray Industries (Toray Membrane USA) and DuPont Water Solutions. Emerging players are Energy Recovery Inc. and Modern Water plc.
Does Forward Water Technologies have an API?
No public API is recorded for Forward Water Technologies.
What industry is Forward Water Technologies in?
Forward Water Technologies's product category is Industrial Water Treatment. Its primary akta.pro industry code is IMAFAGAH, Water Reuse & Reclamation Infrastructure Construction (Recycled Water Systems), with a secondary code of EUANAGAG, Industrial Water Reuse Utilities (ZLD/MLD & Process Water Recycling). Its NAICS code is 221310 and its SIC code is 4941.