Blue Water Petroleum Corp. (OTC:BWPC) Stock Surges 24%: Here is Why
On Tuesday, Blue Water Petroleum Corp. (OTC:BWPC) was one of the companies that had hit the news cycle in a big way following a key announcement from Attimar SA, its fully owned subsidiary unit. Attimar announced that it had been successful in having developed a new battery technology that helped in providing a maximum of 25% increase in charging capacity and an overall lifespan boost of a maximum of tenfold in comparison to the available energy storage solutions on the market.
It was a significant new announcement from Attimar and for its parent company, Blue Water Petroleum Corp. The target market of the new technology would be the industrial and automotive spaces, both of which demand units of high capacity that could deliver and store significantly large amounts of electrical energy.
Additionally, the fact that the company used innovative materials for the technology would shorten the time taken for commercialization and make the technology far more marketable. The basis of the technology lay in a number of existing and filed patents from Attimar. The new technology would also put Blue Water Petroleum Corp. in a position to be a major technology innovator in the fast-growing battery industry.
In the news release, it was also noted that the technology would also have a profound impact on the competitive levels of the company and its position in the worldwide renewable energy sector. Attimar SA made considerable investments in the research and development of advanced batteries and also displayed a strong commitment to environmental sustainability.
Additionally, the ongoing funding of the research was also a demonstration of the commitment of Blue Water Petroleum Corp. towards the promotion of environmentally responsible technologies. It was also noted that the company was going to provide a rollout plan spread across multiple phases in the third fiscal quarter of 2024.
