Energy and Water Development Corp (OTCMKTS:EAWD) Stock Soars 24%: Here is Why

On Thursday Energy and Water Development Corp (OTCMKTS:EAWD) was in focus after it announced that it had opened its new offices in Mexico thereby expanding its presence in the Latin American region.

Trading Data

On Thursday, EAWD stock gained 23.79% to $0.0385 with 655.48K shares, compared to volume of 320.06K shares. The stock moved within a range of $0.0289 – 0.0460 after opening trade at $0.0300.

Energy and Water Development Corp (EAWD) Expands Presence in Latin America with New Office in Mexico

The company already has offices in the United States and Germany at this point. In the press release yesterday, Energy and Water Development Corp noted that the expansion into Mexico was an indication of its commitment towards providing sustainable energy and water solutions to the commercial, industrial and residential markets in regions where there may be energy shortage and water supply could be scarce.

Up to 150 million people in Caribbean and Latin America, which works out to around 25% of the total population, reside in such areas where there is scarcity of water. Additionally, in excess of 400 million people do not have access to reliable sanitation facilities. These numbers are only going to rise owing to the effects of climate change.

73 million people do not have access to a safe and reliable source of water in Mexico and 55 million people do not have access to safe sanitation facilities. Energy and Water Development Corp would leverage its expertise in alleviating these problems somewhat.